William Blair Analysts Lift Earnings Estimates for Charles River Laboratories Intl. Inc (NYSE:CRL)

Charles River Laboratories Intl. Inc (NYSE:CRL) – Stock analysts at William Blair boosted their FY2019 earnings estimates for Charles River Laboratories Intl. in a research note issued on Wednesday, November 6th. William Blair analyst J. Kreger now expects that the medical research company will post earnings per share of $6.57 for the year, up from their previous estimate of $6.55. William Blair also issued estimates for Charles River Laboratories Intl.’s Q4 2019 earnings at $1.85 EPS, Q2 2020 earnings at $1.90 EPS, FY2020 earnings at $7.59 EPS, FY2021 earnings at $8.65 EPS, FY2022 earnings at $9.74 EPS and FY2023 earnings at $10.97 EPS.

Charles River Laboratories Intl. (NYSE:CRL) last issued its earnings results on Wednesday, November 6th. The medical research company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.05. The business had revenue of $668.00 million during the quarter, compared to the consensus estimate of $674.08 million. Charles River Laboratories Intl. had a return on equity of 22.01% and a net margin of 8.94%. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.53 EPS.

CRL has been the subject of a number of other reports. Credit Suisse Group set a $138.00 target price on Charles River Laboratories Intl. and gave the stock a “hold” rating in a research note on Friday, September 13th. UBS Group cut their target price on Charles River Laboratories Intl. from $147.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday. Bank of America downgraded Charles River Laboratories Intl. from a “buy” rating to a “neutral” rating and set a $150.00 target price for the company. in a research note on Friday, October 18th. ValuEngine downgraded Charles River Laboratories Intl. from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, SunTrust Banks raised their price objective on Charles River Laboratories Intl. from $156.00 to $162.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $150.50.

Shares of CRL stock opened at $130.51 on Friday. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 21.64, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. The stock has a 50 day simple moving average of $132.15 and a 200-day simple moving average of $133.41. Charles River Laboratories Intl. has a 12-month low of $103.00 and a 12-month high of $149.07. The company has a current ratio of 1.59, a quick ratio of 1.38 and a debt-to-equity ratio of 1.47.

In related news, insider David Ross Smith sold 1,249 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $130.36, for a total value of $162,819.64. Following the completion of the transaction, the insider now directly owns 19,327 shares of the company’s stock, valued at approximately $2,519,467.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRL. Bank of New York Mellon Corp increased its stake in Charles River Laboratories Intl. by 49.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 978,183 shares of the medical research company’s stock valued at $138,804,000 after purchasing an additional 323,625 shares in the last quarter. King Luther Capital Management Corp grew its holdings in Charles River Laboratories Intl. by 179.0% during the 2nd quarter. King Luther Capital Management Corp now owns 343,777 shares of the medical research company’s stock valued at $48,782,000 after buying an additional 220,562 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in Charles River Laboratories Intl. by 3,703.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 203,189 shares of the medical research company’s stock valued at $28,832,000 after buying an additional 197,847 shares during the last quarter. AQR Capital Management LLC grew its holdings in Charles River Laboratories Intl. by 7.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,239,921 shares of the medical research company’s stock valued at $317,845,000 after buying an additional 157,160 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its holdings in Charles River Laboratories Intl. by 2,050.2% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 163,199 shares of the medical research company’s stock valued at $21,603,000 after buying an additional 155,609 shares during the last quarter. 94.31% of the stock is owned by hedge funds and other institutional investors.

Charles River Laboratories Intl. Company Profile

Charles River Laboratories International, Inc, an early-stage contract research company, provides drug discovery, non-clinical development, and safety testing services worldwide. It operates in three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing).

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Earnings History and Estimates for Charles River Laboratories Intl. (NYSE:CRL)

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