ICON Public (NASDAQ:ICLR) Announces Earnings Results

ICON Public (NASDAQ:ICLR) announced its earnings results on Wednesday. The medical research company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.72 by ($0.37), Briefing.com reports. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.13 billion. ICON Public had a net margin of 8.57% and a return on equity of 12.06%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $3.10 earnings per share. ICON Public updated its FY24 guidance to $13.90-14.10 EPS and its FY 2024 guidance to 13.900-14.100 EPS.

ICON Public Price Performance

NASDAQ:ICLR opened at $221.73 on Friday. ICON Public has a 52-week low of $220.51 and a 52-week high of $347.72. The stock has a fifty day moving average of $299.79 and a 200 day moving average of $310.96. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.31 and a current ratio of 1.31. The firm has a market capitalization of $18.29 billion, a price-to-earnings ratio of 26.97, a P/E/G ratio of 1.35 and a beta of 1.22.

Analyst Ratings Changes

Several brokerages have weighed in on ICLR. Redburn Atlantic began coverage on ICON Public in a report on Monday, October 14th. They set a “neutral” rating and a $311.00 price objective for the company. Evercore ISI cut their price target on ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Robert W. Baird cut ICON Public from an “outperform” rating to a “neutral” rating and set a $340.00 price objective on the stock. in a research note on Thursday. StockNews.com lowered shares of ICON Public from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Finally, Baird R W lowered shares of ICON Public from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $346.09.

About ICON Public

ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, rest of Europe, the United States, and internationally. The company 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.