Charles River Laboratories International, Inc. to Post FY2022 Earnings of $11.54 Per Share, KeyCorp Forecasts (NYSE:CRL)

Charles River Laboratories International, Inc. (NYSE:CRLGet Rating) – Equities researchers at KeyCorp decreased their FY2022 earnings estimates for Charles River Laboratories International in a report released on Wednesday, June 8th. KeyCorp analyst P. Knight now expects that the medical research company will earn $11.54 per share for the year, down from their prior forecast of $11.60. KeyCorp also issued estimates for Charles River Laboratories International’s FY2023 earnings at $13.34 EPS.

Charles River Laboratories International (NYSE:CRLGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The medical research company reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.53 EPS.

A number of other equities analysts have also recently commented on CRL. Citigroup raised shares of Charles River Laboratories International from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a research note on Thursday, February 17th. Stephens began coverage on Charles River Laboratories International in a research note on Wednesday, April 6th. They set an “overweight” rating and a $377.00 price objective on the stock. Bank of America decreased their price objective on Charles River Laboratories International from $445.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 17th. Wells Fargo & Company dropped 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. Finally, Morgan Stanley decreased their price target on Charles River Laboratories International from $465.00 to $430.00 and set an “overweight” rating on the stock in a report on Thursday, February 17th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $391.69.

Shares of CRL opened at $225.71 on Friday. The stock has a market capitalization of $11.47 billion, a PE ratio of 27.49, a P/E/G ratio of 1.45 and a beta of 1.27. The company’s fifty day moving average is $253.50 and its 200 day moving average is $301.08. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.12 and a current ratio of 1.34. Charles River Laboratories International has a fifty-two week low of $217.20 and a fifty-two week high of $460.21.

In related news, Director George Massaro sold 178 shares of the firm’s stock in a transaction dated 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 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 Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Argent Trust Co increased its stake in shares of Charles River Laboratories International by 2.4% during the fourth quarter. Argent Trust Co now owns 1,266 shares of the medical research company’s stock valued at $477,000 after buying an additional 30 shares during the period. Intrust Bank NA raised its holdings in shares of Charles River Laboratories International by 1.1% in the 4th quarter. Intrust Bank NA now owns 3,146 shares of the medical research company’s stock valued at $1,185,000 after purchasing an additional 33 shares in the last quarter. Resources Investment Advisors LLC. raised its holdings in shares of Charles River Laboratories International by 6.2% in the 4th quarter. Resources Investment Advisors LLC. now owns 602 shares of the medical research company’s stock valued at $227,000 after purchasing an additional 35 shares in the last quarter. Kentucky Retirement Systems boosted its stake in shares of Charles River Laboratories International by 1.4% during the third quarter. Kentucky Retirement Systems now owns 2,966 shares of the medical research company’s stock valued at $1,224,000 after purchasing an additional 40 shares in the last quarter. Finally, American International Group Inc. increased its holdings in Charles River Laboratories International by 0.3% during the fourth quarter. American International Group Inc. now owns 15,790 shares of the medical research company’s stock valued at $5,949,000 after buying an additional 42 shares during the period. Institutional investors own 93.06% of the company’s stock.

About Charles River Laboratories International (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).

See Also

Earnings History and Estimates for Charles River Laboratories International (NYSE:CRL)

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