Charles River Laboratories (CRL) Releases Earnings Results, Beats Expectations By $0.10 EPS

Charles River Laboratories (CRL) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $1.20 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.10. Analysts had a consensus of $1.10. The company posted revenue of $434.10 million in the period, compared to analysts expectations of $424.98 million. The company’s revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS.

Many Wall Street Analysts have commented on Charles River Laboratories. Credit Suisse Initiated Charles River Laboratories on Jun 21, 2016 to “Neutral”, Price Target of the shares are set at $84.Company shares were Reiterated by Barclays on May 20, 2016 to “Underweight”, Firm has raised the Price Target to $ 65 from a previous price target of $60 .

Charles River Laboratories closed down -1.4 points or -1.58% at $87.04 with 5,66,875 shares getting traded on Tusday. Post opening the session at $88.25, the shares hit an intraday low of $86.15 and an intraday high of $88.56 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

In a different news, on Aug 1, 2016, Richard F Wallman (director) sold 7,740 shares at $88.00 per share price. According to the SEC, on Jul 5, 2016, George Massaro (director) sold 800 shares at $83.54 per share price. On May 25, 2016, John J Crowley (SVP, Chief Accounting Officer) sold 1,913 shares at $85.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Charles River Laboratories International Inc. is a full service early stage contract research company. The Company offers research models for the research and development of new drugs devices and therapies. It develops a portfolio of discovery and safety assessment services both Good Laboratory Practice (GLP) and non-GLP that support the clients from target identification through preclinical development. The Company operates through three segments: Research Models and Services (RMS) which supplies research models to the drug development industry; Discovery and Safety Assessment (DSA) which provides services that enables the clients to outsource their drug discovery research critical regulatory-required safety assessment testing and related drug discovery and development activities and Manufacturing Support (Manufacturing) which is involved in the production and release of products manufactured by the clients.

Charles River Laboratories

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