Charles River Laboratories International, Inc. (NYSE:CRL) Forecasted to Post Q3 2022 Earnings of $2.57 Per Share

Charles River Laboratories International, Inc. (NYSE:CRL – Get Rating) – Analysts at Jefferies Financial Group cut their Q3 2022 earnings per share (EPS) estimates for Charles River Laboratories International in a note issued to investors on Wednesday, August 3rd. Jefferies Financial Group analyst D. Windley now expects that the medical research company will post earnings per share of $2.57 for the quarter, down from their prior forecast of $2.85. Jefferies Financial Group currently has a “Hold” rating and a $280.00 target price on the stock. The consensus estimate for Charles River Laboratories International’s current full-year earnings is $10.75 per share. Jefferies Financial Group also issued estimates for Charles River Laboratories International’s FY2022 earnings at $10.78 EPS and FY2023 earnings at $11.50 EPS.

Charles River Laboratories International (NYSE:CRL – Get Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The medical research company reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.74 by $0.03. The firm had revenue of $973.13 million during the quarter, compared to analyst estimates of $995.12 million. Charles River Laboratories International had a return on equity of 21.51% and a net margin of 12.02%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.61 earnings per share.

Several other research analysts have also commented on the company. Morgan Stanley lowered Charles River Laboratories International from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $350.00 to $250.00 in a research report on Thursday. Deutsche Bank Aktiengesellschaft dropped their price target on Charles River Laboratories International from $350.00 to $290.00 and set a “buy” rating for the company in a research report on Thursday, July 14th. Guggenheim began coverage on Charles River Laboratories International in a research report on Monday, May 23rd. They issued a “neutral” rating for the company. They noted that the move was a valuation call. Wells Fargo & Company dropped their price target on Charles River Laboratories International from $390.00 to $325.00 and set an “overweight” rating for the company in a research report on Monday, April 25th. Finally, KeyCorp dropped their price target on Charles River Laboratories International from $390.00 to $300.00 in a research report on Thursday, May 5th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $355.64.

Charles River Laboratories International Trading Down 1.9 %

Shares of Charles River Laboratories International stock opened at $223.38 on Friday. The firm has a market cap of $11.35 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 1.47 and a beta of 1.29. The business has a 50-day moving average price of $226.08 and a 200-day moving average price of $261.94. The company has a quick ratio of 1.12, a current ratio of 1.33 and a debt-to-equity ratio of 1.13. Charles River Laboratories International has a twelve month low of $203.37 and a twelve month high of $460.21.

Insiders Place Their Bets

In other Charles River Laboratories International news, Director George Massaro sold 178 shares of Charles River Laboratories International stock in a transaction on Monday, May 9th. The shares were sold at an average price of $230.96, for a total value of $41,110.88. Following the transaction, the director now directly owns 4,677 shares of the company’s stock, valued at $1,080,199.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Charles River Laboratories International

Several hedge funds have recently added to or reduced their stakes in CRL. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Charles River Laboratories International in the fourth quarter worth about $27,000. Trustcore Financial Services LLC acquired a new position in shares of Charles River Laboratories International in the first quarter worth about $28,000. Trust Co. of Vermont acquired a new position in shares of Charles River Laboratories International during the 2nd quarter worth about $29,000. MUFG Americas Holdings Corp acquired a new position in shares of Charles River Laboratories International during the 4th quarter worth about $30,000. Finally, Covestor Ltd acquired a new position in shares of Charles River Laboratories International during the 4th quarter worth about $33,000. 93.06% of the stock is owned by hedge funds and other institutional investors.

Charles River Laboratories International Company Profile

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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).