Analysts Expect Icon Plc (NASDAQ:ICLR) Will Announce Earnings of $1.83 Per Share
by Renee Jackson
Brokerages predict that Icon Plc (NASDAQ:ICLR) will report earnings of $1.83 per share for the current quarter, according to Zacks. Six analysts have made estimates for Icon’s earnings, with the highest EPS estimate coming in at $1.84 and the lowest estimate coming in at $1.81. Icon posted earnings of $1.62 per share during the same quarter last year, which would suggest a positive year over year growth rate of 13%. The firm is expected to announce its next earnings results on Wednesday, February 19th.
According to Zacks, analysts expect that Icon will report full-year earnings of $6.89 per share for the current fiscal year, with EPS estimates ranging from $6.86 to $6.92. For the next fiscal year, analysts expect that the business will report earnings of $7.71 per share, with EPS estimates ranging from $7.63 to $7.84. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Icon.
Icon (NASDAQ:ICLR) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $1.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.74. The business had revenue of $710.40 million for the quarter, compared to the consensus estimate of $709.75 million. Icon had a return on equity of 24.86% and a net margin of 13.16%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the business posted $1.54 EPS.
Several brokerages have weighed in on ICLR. ValuEngine downgraded Icon from a “buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Zacks Investment Research raised Icon from a “hold” rating to a “buy” rating and set a $183.00 target price on the stock in a research note on Monday, December 2nd. BidaskClub raised Icon from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. Credit Suisse Group reaffirmed a “buy” rating and set a $160.00 target price on shares of Icon in a research note on Monday, October 28th. Finally, UBS Group set a $160.00 target price on Icon and gave the company a “hold” rating in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Icon has a consensus rating of “Buy” and an average price target of $165.13.
Several hedge funds have recently modified their holdings of the company. Quest Capital Management Inc. ADV acquired a new position in shares of Icon in the 3rd quarter worth $35,000. SRS Capital Advisors Inc. acquired a new position in shares of Icon in the 2nd quarter worth $47,000. UBS Asset Management Americas Inc. grew its holdings in shares of Icon by 30.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 326 shares of the medical research company’s stock worth $50,000 after acquiring an additional 77 shares during the last quarter. FTB Advisors Inc. grew its holdings in shares of Icon by 27.6% in the 3rd quarter. FTB Advisors Inc. now owns 361 shares of the medical research company’s stock worth $52,000 after acquiring an additional 78 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Icon by 65.0% during the third quarter. CWM LLC now owns 386 shares of the medical research company’s stock valued at $57,000 after buying an additional 152 shares in the last quarter. Institutional investors own 85.82% of the company’s stock.
Icon stock traded down $1.23 during mid-day trading on Monday, hitting $161.67. 1,541 shares of the company’s stock traded hands, compared to its average volume of 255,048. The firm has a 50 day moving average price of $152.30 and a 200 day moving average price of $150.56. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.28. The company has a market cap of $8.79 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 2.20 and a beta of 0.71. Icon has a one year low of $118.10 and a one year high of $165.13.
About Icon
ICON Public Limited Company, a clinical research organization, provides outsourced development services to the pharmaceutical, biotechnology, and medical device industries in Ireland, rest of Europe, the United States, and internationally. It specializes in the strategic development, management, and analysis of programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies.
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