Charles River Laboratories International, Inc. (NYSE:CRL) to Post Q2 2022 Earnings of $2.89 Per Share, KeyCorp Forecasts

Charles River Laboratories International, Inc. (NYSE:CRL) – KeyCorp raised their Q2 2022 earnings per share estimates for Charles River Laboratories International in a note issued to investors on Tuesday, January 11th. KeyCorp analyst D. Hooker now anticipates that the medical research company will post earnings per share of $2.89 for the quarter, up from their prior estimate of $2.85. KeyCorp also issued estimates for Charles River Laboratories International’s Q3 2022 earnings at $2.98 EPS, Q4 2022 earnings at $3.06 EPS, FY2022 earnings at $11.67 EPS and FY2023 earnings at $13.53 EPS.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings results on Tuesday, November 2nd. The medical research company reported $2.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.58 by $0.12. The business had revenue of $895.90 million during the quarter, compared to analysts’ expectations of $902.03 million. Charles River Laboratories International had a return on equity of 23.14% and a net margin of 11.58%. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period last year, the firm posted $2.33 EPS.

A number of other brokerages have also weighed in on CRL. Citigroup reduced their price objective on Charles River Laboratories International from $425.00 to $400.00 and set a “neutral” rating on the stock in a research report on Thursday, November 4th. Deutsche Bank Aktiengesellschaft upped their price target on Charles River Laboratories International from $354.00 to $409.00 and gave the stock a “buy” rating in a research note on Tuesday, November 16th. Morgan Stanley lowered their price objective on Charles River Laboratories International from $480.00 to $465.00 and set an “overweight” rating for the company in a research note on Thursday, November 4th. Evercore ISI reaffirmed a “buy” rating on shares of Charles River Laboratories International in a report on Thursday, October 14th. Finally, Robert W. Baird reissued a “buy” rating on shares of Charles River Laboratories International in a report on Monday, December 20th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $415.50.

Charles River Laboratories International stock opened at $355.01 on Thursday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.22 and a current ratio of 1.40. Charles River Laboratories International has a 52 week low of $249.48 and a 52 week high of $460.21. The stock has a market capitalization of $17.92 billion, a P/E ratio of 45.87, a price-to-earnings-growth ratio of 2.20 and a beta of 1.17. The stock has a fifty day moving average of $366.58 and a 200-day moving average of $397.38.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRL. Spire Wealth Management raised its position in shares of Charles River Laboratories International by 2.0% during the 4th quarter. Spire Wealth Management now owns 62,038 shares of the medical research company’s stock valued at $23,400,000 after buying an additional 1,231 shares in the last quarter. TPG Financial Advisors LLC grew its stake in Charles River Laboratories International by 16.6% in the 4th quarter. TPG Financial Advisors LLC now owns 1,098 shares of the medical research company’s stock worth $414,000 after acquiring an additional 156 shares in the last quarter. Riverbridge Partners LLC grew its stake in Charles River Laboratories International by 3.4% in the 4th quarter. Riverbridge Partners LLC now owns 170,838 shares of the medical research company’s stock worth $64,368,000 after acquiring an additional 5,553 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Charles River Laboratories International by 3.2% in the 4th quarter. Louisiana State Employees Retirement System now owns 3,200 shares of the medical research company’s stock worth $1,206,000 after acquiring an additional 100 shares in the last quarter. Finally, Gateway Investment Advisers LLC boosted its stake in shares of Charles River Laboratories International by 9.3% during the fourth quarter. Gateway Investment Advisers LLC now owns 1,694 shares of the medical research company’s stock valued at $638,000 after purchasing an additional 144 shares in the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

Charles River Laboratories International Company Profile

Charles River Laboratories International, Inc is an early-stage contract research company, which provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and academic institutions. It operates through the following segments: Research Models & Services, Discovery & Safety Assessment and Manufacturing Support.

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

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