Q3 2022 EPS Estimates for Charles River Laboratories International, Inc. (NYSE:CRL) Cut by Analyst

Charles River Laboratories International, Inc. (NYSE:CRLGet Rating) – Analysts at Zacks Research reduced their Q3 2022 earnings per share (EPS) estimates for Charles River Laboratories International in a research report issued to clients and investors on Tuesday, September 20th. Zacks Research analyst U. Biswas now forecasts that the medical research company will post earnings of $2.49 per share for the quarter, down from their previous forecast of $2.52. The consensus estimate for Charles River Laboratories International’s current full-year earnings is $10.77 per share. Zacks Research also issued estimates for Charles River Laboratories International’s FY2022 earnings at $10.73 EPS, Q2 2023 earnings at $3.24 EPS, Q3 2023 earnings at $3.06 EPS and FY2024 earnings at $14.76 EPS.

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

CRL has been the topic of a number of other research reports. Wells Fargo & Company dropped their price target on Charles River Laboratories International from $325.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 16th. Credit Suisse Group assumed coverage on Charles River Laboratories International in a research note on Wednesday, August 24th. They set an “outperform” rating and a $285.00 price target on the stock. Citigroup dropped their price target on Charles River Laboratories International to $280.00 in a research note on Tuesday, August 9th. Morgan Stanley lowered Charles River Laboratories International from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $350.00 to $250.00 in a research report on Thursday, August 4th. Finally, Evercore ISI dropped their target price on Charles River Laboratories International to $260.00 in a research report on Tuesday, August 9th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Charles River Laboratories International currently has an average rating of “Moderate Buy” and a consensus target price of $317.67.

Charles River Laboratories International Price Performance

Shares of CRL stock opened at $194.18 on Wednesday. Charles River Laboratories International has a fifty-two week low of $191.27 and a fifty-two week high of $460.21. The firm has a market capitalization of $9.88 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 1.32 and a beta of 1.35. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.08 and a current ratio of 1.33. The stock’s 50-day simple moving average is $218.82 and its 200-day simple moving average is $238.74.

Institutional Trading of Charles River Laboratories International

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Charles River Laboratories International by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 5,935,727 shares of the medical research company’s stock valued at $1,685,568,000 after buying an additional 66,602 shares in the last quarter. BlackRock Inc. grew its holdings in Charles River Laboratories International by 3.0% in the 1st quarter. BlackRock Inc. now owns 5,230,033 shares of the medical research company’s stock valued at $1,485,173,000 after buying an additional 150,007 shares in the last quarter. State Street Corp grew its holdings in Charles River Laboratories International by 3.7% in the 4th quarter. State Street Corp now owns 2,030,795 shares of the medical research company’s stock valued at $765,163,000 after buying an additional 73,315 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Charles River Laboratories International by 7.3% in the 2nd quarter. Clearbridge Investments LLC now owns 1,468,682 shares of the medical research company’s stock valued at $314,254,000 after buying an additional 99,739 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Charles River Laboratories International by 399.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,104,292 shares of the medical research company’s stock worth $236,285,000 after purchasing an additional 883,029 shares during the period. 95.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Charles River Laboratories International

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 200 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $226.13, for a total value of $45,226.00. Following the completion of the sale, the executive vice president now directly owns 20,766 shares in the company, valued at approximately $4,695,815.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

About Charles River Laboratories International

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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).

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

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