Charles River Laboratories International, Inc. (NYSE:CRL) Expected to Post Quarterly Sales of $796.73 Million


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Wall Street brokerages expect Charles River Laboratories International, Inc. (NYSE:CRL) to post sales of $796.73 million for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for Charles River Laboratories International’s earnings. The lowest sales estimate is $790.30 million and the highest is $808.71 million. Charles River Laboratories International posted sales of $707.06 million in the same quarter last year, which would indicate a positive year over year growth rate of 12.7%. The firm is expected to report its next earnings results before the market opens on Tuesday, May 4th.

On average, analysts expect that Charles River Laboratories International will report full year sales of $3.40 billion for the current financial year, with estimates ranging from $3.31 billion to $3.45 billion. For the next financial year, analysts forecast that the firm will report sales of $3.75 billion, with estimates ranging from $3.60 billion to $3.91 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Charles River Laboratories International.

Charles River Laboratories International (NYSE:CRL) last issued its earnings results on Tuesday, May 4th. The medical research company reported $2.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.19 by $0.34. Charles River Laboratories International had a return on equity of 22.41% and a net margin of 10.68%. The firm had revenue of $824.60 million for the quarter, compared to analysts’ expectations of $798.52 million. During the same period in the previous year, the firm posted $1.84 earnings per share. The business’s revenue was up 16.6% compared to the same quarter last year.

Several research firms recently commented on CRL. Credit Suisse Group lifted their price target on Charles River Laboratories International from $259.00 to $301.00 and gave the stock a “neutral” rating in a research report on Thursday, February 18th. Morgan Stanley lifted their price target on Charles River Laboratories International from $280.00 to $350.00 and gave the stock an “overweight” rating in a research report on Thursday, February 25th. Zacks Investment Research lowered Charles River Laboratories International from a “buy” rating to a “hold” rating in a research report on Monday, April 19th. Deutsche Bank Aktiengesellschaft lifted their price target on Charles River Laboratories International from $250.00 to $334.00 and gave the stock a “buy” rating in a research report on Thursday, February 25th. Finally, Truist boosted their target price on Charles River Laboratories International from $256.00 to $324.00 in a research report on Thursday, February 18th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $260.80.

CRL traded up $7.01 on Thursday, hitting $338.96. The company had a trading volume of 652,947 shares, compared to its average volume of 321,532. The company has a market cap of $17.02 billion, a PE ratio of 55.33, a PEG ratio of 2.19 and a beta of 1.12. Charles River Laboratories International has a 12-month low of $139.76 and a 12-month high of $343.47. The company has a quick ratio of 1.22, a current ratio of 1.45 and a debt-to-equity ratio of 1.04. The business’s fifty day simple moving average is $306.22 and its 200 day simple moving average is $268.91.

In related news, VP Birgit Girshick sold 1,675 shares of the business’s stock in a transaction that occurred on Friday, February 19th. The stock was sold at an average price of $293.92, for a total value of $492,316.00. Following the completion of the sale, the vice president now owns 31,680 shares in the company, valued at $9,311,385.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Michael Gunnar Knell sold 410 shares of the business’s stock in a transaction that occurred on Friday, February 19th. The shares were sold at an average price of $290.99, for a total value of $119,305.90. Following the completion of the sale, the chief accounting officer now owns 4,198 shares of the company’s stock, valued at approximately $1,221,576.02. The disclosure for this sale can be found here. Insiders sold 111,363 shares of company stock valued at $32,201,105 in the last quarter. 1.90% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in Charles River Laboratories International by 0.4% in the fourth quarter. BlackRock Inc. now owns 5,369,613 shares of the medical research company’s stock worth $1,341,649,000 after buying an additional 20,073 shares in the last quarter. FIL Ltd raised its stake in Charles River Laboratories International by 9.0% in the fourth quarter. FIL Ltd now owns 810,907 shares of the medical research company’s stock worth $202,613,000 after buying an additional 67,238 shares in the last quarter. Norges Bank bought a new position in Charles River Laboratories International in the fourth quarter worth approximately $120,525,000. King Luther Capital Management Corp raised its stake in Charles River Laboratories International by 12.8% in the fourth quarter. King Luther Capital Management Corp now owns 476,733 shares of the medical research company’s stock worth $119,117,000 after buying an additional 54,216 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in Charles River Laboratories International by 16.5% in the fourth quarter. Mackenzie Financial Corp now owns 429,343 shares of the medical research company’s stock worth $107,276,000 after buying an additional 60,774 shares in the last quarter. 92.30% of the stock is owned by institutional investors.

Charles River Laboratories International Company Profile

Charles River Laboratories International, Inc, an early-stage contract research company, provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. 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 International (NYSE:CRL)

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