Stocks: Q2 2017 Earnings Forecast for Charles River Laboratories Intl. Inc (CRL) Issued By William Blair

Stocks: Q2 2017 Earnings Forecast for Charles River Laboratories Intl. Inc (CRL) Issued By William Blair

Charles River Laboratories Intl. Inc (NYSE:CRL) – Stock analysts at William Blair decreased their Q2 2017 earnings estimates for shares of Charles River Laboratories Intl. in a research report issued to clients and investors on Wednesday. William Blair analyst J. Kreger now expects that the medical research company will post earnings per share of $1.21 for the quarter, down from their prior estimate of $1.29. William Blair also issued estimates for Charles River Laboratories Intl.’s Q3 2017 earnings at $1.26 EPS, Q4 2017 earnings at $1.31 EPS, FY2019 earnings at $6.16 EPS and FY2020 earnings at $6.81 EPS.

Several other equities analysts also recently weighed in on the company. Jefferies Group LLC reiterated a “buy” rating and set a $106.00 target price on shares of Charles River Laboratories Intl. in a research report on Friday, April 21st. Citigroup Inc reiterated a “neutral” rating and set a $91.00 target price (up from $90.00) on shares of Charles River Laboratories Intl. in a research report on Thursday. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $84.94.

Shares of Charles River Laboratories Intl. (NYSE:CRL) traded down 0.14% on Friday, hitting $88.11. The stock had a trading volume of 53,843 shares. The stock has a 50 day moving average of $88.95 and a 200-day moving average of $81.92. The stock has a market cap of $4.19 billion, a PE ratio of 25.79 and a beta of 0.99. Charles River Laboratories Intl. has a 12 month low of $67.20 and a 12 month high of $92.61.

Charles River Laboratories Intl. (NYSE:CRL) last issued its quarterly earnings results on Wednesday, May 10th. The medical research company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.15. Charles River Laboratories Intl. had a return on equity of 25.75% and a net margin of 9.05%. The firm had revenue of $445.80 million for the quarter, compared to analysts’ expectations of $437.04 million. During the same quarter in the prior year, the firm earned $0.98 EPS. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year.

Institutional investors have recently made changes to their positions in the stock. First Citizens Bank & Trust Co. increased its position in shares of Charles River Laboratories Intl. by 0.5% in the third quarter. First Citizens Bank & Trust Co. now owns 6,049 shares of the medical research company’s stock valued at $504,000 after buying an additional 30 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Charles River Laboratories Intl. by 2.3% in the fourth quarter. Bessemer Group Inc. now owns 1,933 shares of the medical research company’s stock valued at $147,000 after buying an additional 43 shares during the last quarter. Cornercap Investment Counsel Inc. increased its position in shares of Charles River Laboratories Intl. by 1.0% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 7,430 shares of the medical research company’s stock valued at $566,000 after buying an additional 70 shares during the last quarter. Cardinal Capital Management increased its position in shares of Charles River Laboratories Intl. by 1.1% in the first quarter. Cardinal Capital Management now owns 7,035 shares of the medical research company’s stock valued at $633,000 after buying an additional 76 shares during the last quarter. Finally, State Treasurer State of Michigan increased its position in shares of Charles River Laboratories Intl. by 0.5% in the first quarter. State Treasurer State of Michigan now owns 19,200 shares of the medical research company’s stock valued at $1,727,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 95.32% of the company’s stock.

In other news, Chairman James C. Foster sold 4,910 shares of the business’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $87.09, for a total value of $427,611.90. Following the transaction, the chairman now directly owns 381,730 shares in the company, valued at $33,244,865.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Davide Molho sold 11,717 shares of the business’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $90.00, for a total value of $1,054,530.00. Following the completion of the transaction, the insider now owns 28,266 shares in the company, valued at $2,543,940. The disclosure for this sale can be found here. Insiders have sold 71,982 shares of company stock worth $6,384,359 over the last quarter. 2.30% of the stock is owned by company insiders.

Charles River Laboratories Intl. Company Profile

Charles River Laboratories International, Inc is an early-stage contract research company. The Company is engaged in laboratory animal medicine and science (research model technologies) and develop a portfolio of discovery and safety assessment services, both good laboratory practice (GLP) and non-GLP, which supports its clients from target identification through non-clinical development.

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