ICON Public (NASDAQ:ICLR) Releases Earnings Results, Misses Estimates By $0.37 EPS

ICON Public (NASDAQ:ICLR) released its quarterly earnings results on Wednesday. The medical research company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.72 by ($0.37), Briefing.com reports. ICON Public had a net margin of 8.57% and a return on equity of 12.06%. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the company earned $3.10 EPS. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. 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

Shares of ICLR traded down $1.26 during trading hours on Friday, reaching $220.47. The company had a trading volume of 2,570,579 shares, compared to its average volume of 621,075. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.36. ICON Public has a 12-month low of $220.01 and a 12-month high of $347.72. The firm has a 50 day simple moving average of $299.79 and a 200-day simple moving average of $310.96. The company has a market capitalization of $18.19 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 1.35 and a beta of 1.22.

Analyst Ratings Changes

ICLR has been the subject of several recent research reports. Baird R W downgraded shares of ICON Public from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Redburn Atlantic initiated coverage on ICON Public in a research report on Monday, October 14th. They set a “neutral” rating and a $311.00 price objective for the company. Truist Financial dropped their target price on ICON Public from $383.00 to $363.00 and set a “buy” rating on the stock in a report on Monday, October 14th. TD Cowen decreased their price target on ICON Public from $369.00 to $285.00 and set a “buy” rating for the company in a report on Friday. Finally, StockNews.com cut shares of ICON Public from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $310.45.

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.