ICON Public (NASDAQ:ICLR) Updates FY 2024 Earnings Guidance

ICON Public (NASDAQ:ICLR) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 13.900-14.100 for the period, compared to the consensus estimate of 13.970. The company issued revenue guidance of $8.3 billion-$8.3 billion, compared to the consensus revenue estimate of $8.3 billion. ICON Public also updated its FY 2025 guidance to 13.000-15.000 EPS.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ICLR. Royal Bank of Canada reiterated an “outperform” rating and issued a $263.00 price objective on shares of ICON Public in a research report on Wednesday. The Goldman Sachs Group lowered their price objective on shares of ICON Public from $370.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Barclays cut their price objective on shares of ICON Public from $330.00 to $275.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Evercore ISI lowered their target price on ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Finally, Leerink Partnrs upgraded ICON Public to a “strong-buy” rating in a report on Wednesday, September 18th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ICON Public has a consensus rating of “Moderate Buy” and an average target price of $287.00.

ICON Public Stock Performance

Shares of NASDAQ ICLR opened at $199.47 on Thursday. The stock has a market capitalization of $16.46 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 1.59 and a beta of 1.20. ICON Public has a 52 week low of $183.38 and a 52 week high of $347.72. The stock has a 50 day moving average price of $210.79 and a 200 day moving average price of $270.01. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.34 and a current ratio of 1.34.

ICON Public (NASDAQ:ICLR) last released its earnings results on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.72 by ($0.37). ICON Public had a net margin of 9.00% and a return on equity of 11.91%. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the business posted $3.10 earnings per share. ICON Public’s quarterly revenue was down 1.2% compared to the same quarter last year. Analysts predict that ICON Public will post 13.41 earnings per share for the current fiscal year.

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.