Hot Move to Watch: Charles River Laboratories International Inc. (NYSE: CRL)

Dorothy Owen

I am Dorothy Owen and I give “Seeking Review” an insight into the most recent news hitting the “Healthcare” sector in Wall Street.

I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community.

Address: 454 Cottrill Lane, Saint Louis, MO 63108, USA
Phone: (+1) 314-388-9712
Email: dorothy.owen@seekingreview.com
Dorothy Owen

WILMINGTON, Mass., August 16, 2019 – Shares of Charles River Laboratories International Inc. (NYSE: CRL) declined -3.28% to $126.53. The stock grabbed the investor’s attention and traded 276.342K shares as compared to its average daily volume of 332.69K shares. The stock’s institutional ownership stands at 97.20%.

Charles River Laboratories International Inc. (CRL) reported first-quarter profit of $55.10M. The Wilmington, Massachusetts-based company said it had profit of $1.11 per share. Earnings, adjusted for non-recurring costs, came to $1.40 per share. The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.38 per share.

For the quarter, revenue was $604.60M, a boost of 22.4% from $494.00M in the first quarter of 2018. Revenue growth was driven by all three business segments, particularly Discovery and Safety Assessment and Manufacturing Support.

On a GAAP basis, first-quarter net income from continuing operations attributable to common shareholders was $55.10M, a boost of 4.7% from net income of $52.70M for the same period in 2018. First-quarter diluted earnings per share on a GAAP basis were $1.11, a boost of 2.8% from $1.08 for the first quarter of 2018. GAAP earnings per share included a gain from the Company’s venture capital investments of $0.16 per share in the first quarter of 2019, contrast to a $0.10 gain for the same period in 2018. As formerly revealed, the Company’s venture capital investment performance has been excluded from non-GAAP earnings per share.

On a non-GAAP basis, net income from continuing operations was $69.40M for the first quarter of 2019, a boost of 10.5% from $62.80M for the same period in 2018. First-quarter diluted earnings per share on a non-GAAP basis were $1.40, a boost of 8.5% from $1.29 per share for the first quarter of 2018.

CRL has a market value of $6.28B while its EPS was booked as $4.33 in the last 12 months. The stock has 49.62M shares outstanding. In the profitability analysis, the company has gross profit margin of 36.40% while net profit margin was 8.90%. Beta value of the company was 1.08; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 2.10.

Dorothy Owen

Dorothy Owen

I am Dorothy Owen and I give “Seeking Review” an insight into the most recent news hitting the “Healthcare” sector in Wall Street. I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community. Address: 454 Cottrill Lane, Saint Louis, MO 63108, USA Phone: (+1) 314-388-9712 Email: dorothy.owen@seekingreview.com