Charles River Laboratories International, Inc. (NYSE:CRL) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $5.00-5.15 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.10. The company issued revenue guidance of $1.82-1.85 billion (+8.5-10%), compared to the consensus revenue estimate of $1.83 billion.
Charles River Laboratories International, Inc. (NYSE CRL) traded up 0.27% during midday trading on Friday, reaching $99.98. 321,047 shares of the company traded hands. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 26.35 and a beta of 1.02. The stock’s 50 day moving average is $99.58 and its 200 day moving average is $92.39. Charles River Laboratories International, Inc. has a one year low of $67.20 and a one year high of $102.32.
Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings results on Wednesday, August 9th. The medical research company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.07. Charles River Laboratories International had a net margin of 10.13% and a return on equity of 27.02%. The business had revenue of $469.13 million for the quarter, compared to analysts’ expectations of $458.25 million. During the same period last year, the business earned $1.20 earnings per share. The business’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities analysts anticipate that Charles River Laboratories International, Inc. will post $5.10 earnings per share for the current year.
Charles River Laboratories International declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 10th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the medical research company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
A number of research analysts have commented on the stock. Barclays PLC set a $90.00 price target on shares of Charles River Laboratories International and gave the company a hold rating in a research report on Saturday, May 13th. Zacks Investment Research upgraded shares of Charles River Laboratories International from a hold rating to a buy rating and set a $110.00 price target on the stock in a research report on Thursday, August 10th. BidaskClub upgraded shares of Charles River Laboratories International from a buy rating to a strong-buy rating in a research report on Tuesday, June 20th. Jefferies Group LLC reiterated a buy rating on shares of Charles River Laboratories International in a research report on Wednesday, June 14th. Finally, Citigroup Inc. reiterated a neutral rating and set a $104.00 price target (up from $90.00) on shares of Charles River Laboratories International in a research report on Thursday, May 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Charles River Laboratories International currently has an average rating of Hold and a consensus target price of $96.94.
In other news, insider David Ross Smith sold 2,552 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $67.10, for a total value of $171,239.20. Following the transaction, the insider now owns 11,671 shares in the company, valued at $783,124.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Davide Molho sold 10,948 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $100.00, for a total value of $1,094,800.00. Following the completion of the sale, the insider now directly owns 27,497 shares of the company’s stock, valued at approximately $2,749,700. The disclosure for this sale can be found here. Insiders sold 81,921 shares of company stock worth $8,017,651 in the last 90 days. Company insiders own 2.20% of the company’s stock.
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About Charles River Laboratories International
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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