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Strength Seen in Charles River (CRL): Can Its 6.9% Jump Turn into More Strength?
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Charles River Laboratories (CRL - Free Report) shares rallied 6.9% in the last trading session to close at $106.60. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 41.7% loss over the past four weeks.
Charles River scored a strong price increase on investors’ optimism driven by the company’s impending first-quarter 2025 results, expected to release on May 8 before the market opens. In the last reported fourth quarter, both the top and bottom lines surpassed the Zacks Consensus Estimate by 2.7% and 6.4%, respectively.
This medical research equipment and services provider is expected to post quarterly earnings of $2.06 per share in its upcoming report, which represents a year-over-year change of -9.3%. Revenues are expected to be $935.23 million, down 7.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Charles River, the consensus EPS estimate for the quarter has been revised 0.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CRL going forward to see if this recent jump can turn into more strength down the road.
Charles River is part of the Zacks Medical Services industry. Alignment Healthcare (ALHC - Free Report) , another stock in the same industry, closed the last trading session 3.1% lower at $19.13. ALHC has returned 25% in the past month.
For Alignment Healthcare, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.14. This represents a change of +44% from what the company reported a year ago. Alignment Healthcare currently has a Zacks Rank of #3 (Hold).
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Strength Seen in Charles River (CRL): Can Its 6.9% Jump Turn into More Strength?
Charles River Laboratories (CRL - Free Report) shares rallied 6.9% in the last trading session to close at $106.60. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 41.7% loss over the past four weeks.
Charles River scored a strong price increase on investors’ optimism driven by the company’s impending first-quarter 2025 results, expected to release on May 8 before the market opens. In the last reported fourth quarter, both the top and bottom lines surpassed the Zacks Consensus Estimate by 2.7% and 6.4%, respectively.
This medical research equipment and services provider is expected to post quarterly earnings of $2.06 per share in its upcoming report, which represents a year-over-year change of -9.3%. Revenues are expected to be $935.23 million, down 7.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Charles River, the consensus EPS estimate for the quarter has been revised 0.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CRL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Charles River is part of the Zacks Medical Services industry. Alignment Healthcare (ALHC - Free Report) , another stock in the same industry, closed the last trading session 3.1% lower at $19.13. ALHC has returned 25% in the past month.
For Alignment Healthcare, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.14. This represents a change of +44% from what the company reported a year ago. Alignment Healthcare currently has a Zacks Rank of #3 (Hold).