ICON Public (NASDAQ:ICLR) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS

ICON Public (NASDAQ:ICLR) released its earnings results on Wednesday. The medical research company reported $3.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.68 by $0.07, Briefing.com reports. ICON Public had a net margin of 8.30% and a return on equity of 11.70%. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.14 billion. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the company earned $2.96 earnings per share. ICON Public updated its FY24 guidance to $15.00-$15.20 EPS.

ICON Public Stock Performance

Shares of ICLR traded down $18.67 during midday trading on Thursday, hitting $313.10. 1,550,372 shares of the stock traded hands, compared to its average volume of 580,845. ICON Public has a 1-year low of $221.20 and a 1-year high of $347.72. The firm has a market capitalization of $25.83 billion, a PE ratio of 38.09, a price-to-earnings-growth ratio of 1.48 and a beta of 1.23. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.21 and a current ratio of 1.21. The business’s 50 day moving average price is $322.00 and its two-hundred day moving average price is $308.25.

Analyst Ratings Changes

A number of brokerages recently issued reports on ICLR. Mizuho restated a “buy” rating and issued a $346.00 price target on shares of ICON Public in a research note on Thursday, April 4th. TD Cowen boosted their target price on shares of ICON Public from $349.00 to $373.00 and gave the company a “buy” rating in a research note on Friday, May 31st. The Goldman Sachs Group started coverage on shares of ICON Public in a research note on Thursday, June 6th. They set a “buy” rating and a $370.00 target price for the company. William Blair reiterated an “outperform” rating on shares of ICON Public in a research note on Friday, May 31st. Finally, Evercore ISI lowered their target price on shares of ICON Public from $350.00 to $330.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $351.33.

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.