Zacks: Brokerages Anticipate Charles River Laboratories Intl. Inc (CRL) Will Post Quarterly Sales of $567.57 Million

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Wall Street analysts expect that Charles River Laboratories Intl. Inc (NYSE:CRL) will announce sales of $567.57 million for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have made estimates for Charles River Laboratories Intl.’s earnings, with the lowest sales estimate coming in at $560.96 million and the highest estimate coming in at $572.60 million. Charles River Laboratories Intl. reported sales of $464.23 million in the same quarter last year, which would suggest a positive year over year growth rate of 22.3%. The company is expected to announce its next quarterly earnings results before the market opens on Wednesday, November 7th.

According to Zacks, analysts expect that Charles River Laboratories Intl. will report full-year sales of $2.23 billion for the current financial year, with estimates ranging from $2.22 billion to $2.24 billion. For the next year, analysts anticipate that the business will report sales of $2.46 billion, with estimates ranging from $2.45 billion to $2.48 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Charles River Laboratories Intl..

Charles River Laboratories Intl. (NYSE:CRL) last announced its quarterly earnings data on Wednesday, August 8th. The medical research company reported $1.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.16. The company had revenue of $585.30 million during the quarter, compared to analysts’ expectations of $570.65 million. Charles River Laboratories Intl. had a net margin of 6.38% and a return on equity of 25.26%. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.29 EPS.

A number of equities research analysts have recently issued reports on CRL shares. Credit Suisse Group upped their target price on shares of Charles River Laboratories Intl. from $121.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, September 25th. KeyCorp upgraded shares of Charles River Laboratories Intl. from a “sector weight” rating to an “overweight” rating and increased their price objective for the company from $115.85 to $130.00 in a report on Friday, June 15th. Jefferies Financial Group reiterated a “buy” rating and issued a $140.00 price objective on shares of Charles River Laboratories Intl. in a report on Friday, July 20th. ValuEngine raised shares of Charles River Laboratories Intl. from a “hold” rating to a “buy” rating in a research note on Wednesday, July 18th. Finally, Royal Bank of Canada raised shares of Charles River Laboratories Intl. from a “sector perform” rating to an “outperform” rating and set a $131.00 target price for the company in a research note on Tuesday, July 17th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Charles River Laboratories Intl. presently has a consensus rating of “Buy” and an average price target of $128.50.

CRL stock traded up $2.12 during trading on Friday, reaching $122.99. The stock had a trading volume of 510,207 shares, compared to its average volume of 374,756. Charles River Laboratories Intl. has a 1-year low of $96.70 and a 1-year high of $135.90. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.72 and a quick ratio of 1.48. The firm has a market capitalization of $6.46 billion, a P/E ratio of 23.34, a P/E/G ratio of 1.69 and a beta of 0.65.

In other Charles River Laboratories Intl. news, Director Deborah Turner Kochevar sold 4,066 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $123.66, for a total value of $502,801.56. Following the transaction, the director now directly owns 10,190 shares in the company, valued at $1,260,095.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David Ross Smith sold 1,249 shares of the company’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $120.05, for a total transaction of $149,942.45. Following the completion of the transaction, the insider now owns 13,690 shares in the company, valued at $1,643,484.50. The disclosure for this sale can be found here. In the last three months, insiders sold 32,019 shares of company stock worth $3,914,826. 2.10% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Mason Street Advisors LLC increased its position in Charles River Laboratories Intl. by 2.1% during the 1st quarter. Mason Street Advisors LLC now owns 23,822 shares of the medical research company’s stock valued at $2,543,000 after purchasing an additional 488 shares during the period. MetLife Investment Advisors LLC lifted its stake in Charles River Laboratories Intl. by 1.7% during the 2nd quarter. MetLife Investment Advisors LLC now owns 30,113 shares of the medical research company’s stock valued at $3,380,000 after acquiring an additional 515 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Charles River Laboratories Intl. by 3.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,409 shares of the medical research company’s stock valued at $2,067,000 after acquiring an additional 536 shares in the last quarter. Investment House LLC lifted its stake in Charles River Laboratories Intl. by 0.7% during the 3rd quarter. Investment House LLC now owns 94,470 shares of the medical research company’s stock valued at $12,710,000 after acquiring an additional 615 shares in the last quarter. Finally, Amalgamated Bank raised its stake in shares of Charles River Laboratories Intl. by 6.5% during the 1st quarter. Amalgamated Bank now owns 10,547 shares of the medical research company’s stock worth $1,126,000 after purchasing an additional 642 shares during the period. Hedge funds and other institutional investors own 97.78% of the company’s stock.

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 through 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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