Zacks: Analysts Expect ICON Public Limited (NASDAQ:ICLR) Will Post Earnings of $2.07 Per Share

Analysts predict that ICON Public Limited (NASDAQ:ICLR) will report earnings per share of $2.07 for the current quarter, Zacks reports. Seven analysts have made estimates for ICON Public’s earnings. The highest EPS estimate is $2.13 and the lowest is $1.94. ICON Public posted earnings of $1.20 per share in the same quarter last year, which would suggest a positive year over year growth rate of 72.5%. The business is expected to issue its next quarterly earnings results on Wednesday, July 28th.

On average, analysts expect that ICON Public will report full year earnings of $8.54 per share for the current fiscal year, with EPS estimates ranging from $8.31 to $8.64. For the next fiscal year, analysts forecast that the firm will post earnings of $9.26 per share, with EPS estimates ranging from $7.49 to $9.79. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for ICON Public.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings results on Tuesday, April 27th. The medical research company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.09. ICON Public had a net margin of 11.49% and a return on equity of 20.70%. The company had revenue of $858.20 million during the quarter, compared to the consensus estimate of $780.49 million.

ICLR has been the subject of several research analyst reports. Barclays initiated coverage on shares of ICON Public in a research report on Monday, March 8th. They set an “equal weight” rating and a $200.00 price objective for the company. Bank of America initiated coverage on shares of ICON Public in a research report on Tuesday, April 13th. They set a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of ICON Public from $179.00 to $208.00 and gave the company a “hold” rating in a research report on Thursday, February 25th. Jefferies Financial Group upped their price target on shares of ICON Public from $256.00 to $267.00 and gave the stock a “buy” rating in a report on Thursday, April 29th. Finally, Credit Suisse Group upped their price target on shares of ICON Public from $240.00 to $245.00 and gave the stock an “outperform” rating in a report on Thursday, April 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $232.60.

ICLR traded down $2.24 during trading on Thursday, hitting $217.80. 602,649 shares of the stock traded hands, compared to its average volume of 567,320. ICON Public has a twelve month low of $155.28 and a twelve month high of $234.22. The firm has a market cap of $11.68 billion, a P/E ratio of 34.24, a price-to-earnings-growth ratio of 2.19 and a beta of 0.85. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.01 and a current ratio of 2.01. The business’s 50 day moving average is $216.29.

Several hedge funds have recently added to or reduced their stakes in the company. Kornitzer Capital Management Inc. KS boosted its position in shares of ICON Public by 36.3% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 115,506 shares of the medical research company’s stock worth $22,682,000 after purchasing an additional 30,740 shares in the last quarter. Todd Asset Management LLC boosted its position in shares of ICON Public by 18.6% during the 4th quarter. Todd Asset Management LLC now owns 103,487 shares of the medical research company’s stock worth $20,177,000 after purchasing an additional 16,225 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of ICON Public by 3.8% during the 4th quarter. Captrust Financial Advisors now owns 26,572 shares of the medical research company’s stock worth $5,181,000 after purchasing an additional 981 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in shares of ICON Public by 2.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 24,400 shares of the medical research company’s stock worth $3,332,000 after purchasing an additional 500 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in shares of ICON Public by 4.9% during the 1st quarter. Handelsbanken Fonder AB now owns 19,330 shares of the medical research company’s stock worth $3,796,000 after purchasing an additional 900 shares in the last quarter. 92.84% of the stock is currently owned by institutional investors.

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.

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Earnings History and Estimates for ICON Public (NASDAQ:ICLR)

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