Charles River Laboratories International, Inc. (NYSE:CRL) Expected to Post Quarterly Sales of $1.01 Billion

Wall Street brokerages forecast that Charles River Laboratories International, Inc. (NYSE:CRL – Get Rating) will report $1.01 billion in sales for the current quarter, Zacks reports. Six analysts have issued estimates for Charles River Laboratories International’s earnings, with the highest sales estimate coming in at $1.03 billion and the lowest estimate coming in at $962.90 million. Charles River Laboratories International posted sales of $914.61 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.4%. The company is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that Charles River Laboratories International will report full year sales of $4.05 billion for the current year, with estimates ranging from $4.02 billion to $4.07 billion. For the next fiscal year, analysts forecast that the company will post sales of $4.50 billion, with estimates ranging from $4.40 billion to $4.56 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Charles River Laboratories International.

Charles River Laboratories International (NYSE:CRL – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The medical research company reported $2.75 EPS for the quarter, topping the consensus estimate of $2.71 by $0.04. The business had revenue of $913.93 million for the quarter, compared to the consensus estimate of $908.64 million. Charles River Laboratories International had a return on equity of 21.90% and a net margin of 11.64%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.53 EPS.

Several analysts recently commented on CRL shares. Jefferies Financial Group downgraded Charles River Laboratories International from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $370.00 to $280.00 in a research note on Monday, April 25th. Wells Fargo & Company lowered their target price on Charles River Laboratories International from $390.00 to $325.00 and set an “overweight” rating for the company in a report on Monday, April 25th. KeyCorp lowered their target price on Charles River Laboratories International from $390.00 to $300.00 in a report on Thursday, May 5th. UBS Group lowered their target price on Charles River Laboratories International from $465.00 to $420.00 and set a “buy” rating for the company in a report on Thursday, February 17th. Finally, Morgan Stanley lowered their target price on Charles River Laboratories International from $465.00 to $430.00 and set an “overweight” rating for the company in a report on Thursday, February 17th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Charles River Laboratories International currently has a consensus rating of “Buy” and a consensus target price of $387.88.

Charles River Laboratories International stock traded up $9.10 during mid-day trading on Monday, hitting $235.81. 470,228 shares of the company’s stock were exchanged, compared to its average volume of 683,400. The firm has a market capitalization of $11.98 billion, a P/E ratio of 28.72, a PEG ratio of 1.37 and a beta of 1.27. Charles River Laboratories International has a fifty-two week low of $217.20 and a fifty-two week high of $460.21. The company has a quick ratio of 1.12, a current ratio of 1.34 and a debt-to-equity ratio of 1.02. The company’s 50 day simple moving average is $269.49 and its 200-day simple moving average is $322.65.

In related news, Director George Massaro sold 178 shares of Charles River Laboratories International stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $230.96, for a total transaction of $41,110.88. Following the completion of the sale, the director now directly owns 4,677 shares of the company’s stock, valued at approximately $1,080,199.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO James C. Foster sold 20,000 shares of Charles River Laboratories International stock in a transaction that occurred on Tuesday, February 15th. The stock was sold at an average price of $315.46, for a total value of $6,309,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 39,153 shares of company stock valued at $11,832,257 over the last quarter. 1.10% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its holdings in Charles River Laboratories International by 27.0% during the 1st quarter. Renaissance Technologies LLC now owns 34,409 shares of the medical research company’s stock worth $9,771,000 after purchasing an additional 7,309 shares during the last quarter. Ariel Investments LLC lifted its holdings in Charles River Laboratories International by 16.8% during the 1st quarter. Ariel Investments LLC now owns 209,795 shares of the medical research company’s stock worth $59,575,000 after purchasing an additional 30,148 shares during the last quarter. Bellevue Group AG raised its holdings in Charles River Laboratories International by 91.8% in the 1st quarter. Bellevue Group AG now owns 126,406 shares of the medical research company’s stock valued at $35,896,000 after acquiring an additional 60,495 shares in the last quarter. ING Groep NV raised its holdings in Charles River Laboratories International by 21.5% in the 1st quarter. ING Groep NV now owns 8,006 shares of the medical research company’s stock valued at $2,273,000 after acquiring an additional 1,419 shares in the last quarter. Finally, Ancora Advisors LLC raised its holdings in Charles River Laboratories International by 98.4% in the 1st quarter. Ancora Advisors LLC now owns 20,846 shares of the medical research company’s stock valued at $6,042,000 after acquiring an additional 10,341 shares in the last quarter. 93.06% of the stock is owned by institutional investors and hedge funds.

Charles River Laboratories International Company Profile (Get Rating)

Charles River Laboratories International, Inc, a non-clinical contract research organization, 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 Solutions (Manufacturing).

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