$753.75 Million in Sales Expected for Charles River Laboratories International, Inc. (NYSE:CRL) This Quarter

Equities research analysts predict that Charles River Laboratories International, Inc. (NYSE:CRL) will announce $753.75 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Charles River Laboratories International’s earnings, with the lowest sales estimate coming in at $737.50 million and the highest estimate coming in at $770.56 million. Charles River Laboratories International posted sales of $691.14 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.1%. The firm is expected to issue its next earnings results on Tuesday, February 9th.

According to Zacks, analysts expect that Charles River Laboratories International will report full year sales of $2.89 billion for the current financial year, with estimates ranging from $2.88 billion to $2.90 billion. For the next year, analysts anticipate that the firm will post sales of $3.18 billion, with estimates ranging from $3.13 billion to $3.26 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Charles River Laboratories International.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings results on Thursday, October 29th. The medical research company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.53. The company had revenue of $743.30 million for the quarter, compared to analyst estimates of $715.63 million. Charles River Laboratories International had a return on equity of 22.41% and a net margin of 10.68%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company earned $1.69 earnings per share.

A number of research analysts have recently commented on the company. Morgan Stanley raised their price target on Charles River Laboratories International from $245.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, October 30th. KeyCorp raised their target price on Charles River Laboratories International from $186.00 to $233.00 and gave the company an “overweight” rating in a research note on Tuesday, August 18th. Truist raised their target price on Charles River Laboratories International from $237.00 to $256.00 in a research note on Tuesday, November 3rd. Jefferies Financial Group raised Charles River Laboratories International from a “hold” rating to a “buy” rating and raised their target price for the company from $213.00 to $254.00 in a research note on Thursday, September 10th. Finally, Zacks Investment Research raised Charles River Laboratories International from a “hold” rating to a “buy” rating and set a $261.00 target price for the company in a research note on Tuesday, November 3rd. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $210.58.

In related news, EVP Joseph W. Laplume sold 6,739 shares of the stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $250.28, for a total value of $1,686,636.92. Also, CEO James C. Foster sold 22,000 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $232.38, for a total value of $5,112,360.00. Following the completion of the sale, the chief executive officer now directly owns 209,777 shares of the company’s stock, valued at $48,747,979.26. The disclosure for this sale can be found here. Insiders sold a total of 32,832 shares of company stock valued at $7,734,306 in the last quarter. 1.90% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Jeppson Wealth Management LLC purchased a new stake in Charles River Laboratories International in the 3rd quarter worth about $29,000. Schonfeld Strategic Advisors LLC purchased a new stake in Charles River Laboratories International in the 3rd quarter worth about $1,642,000. Rehmann Capital Advisory Group purchased a new stake in Charles River Laboratories International in the 3rd quarter worth about $201,000. Paloma Partners Management Co lifted its stake in Charles River Laboratories International by 2.6% in the 3rd quarter. Paloma Partners Management Co now owns 4,480 shares of the medical research company’s stock worth $1,015,000 after acquiring an additional 115 shares in the last quarter. Finally, Polar Asset Management Partners Inc. lifted its stake in Charles River Laboratories International by 138.1% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 166,700 shares of the medical research company’s stock worth $37,749,000 after acquiring an additional 96,700 shares in the last quarter. 87.83% of the stock is owned by hedge funds and other institutional investors.

Shares of CRL opened at $232.54 on Thursday. The firm has a market capitalization of $11.57 billion, a price-to-earnings ratio of 38.76, a price-to-earnings-growth ratio of 2.16 and a beta of 1.18. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.22 and a current ratio of 1.45. Charles River Laboratories International has a one year low of $95.58 and a one year high of $257.88. The stock’s fifty day moving average is $236.51 and its 200-day moving average is $204.07.

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. 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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