ICON Public Limited (NASDAQ:ICLR) Expected to Announce Quarterly Sales of $1.90 Billion

Brokerages predict that ICON Public Limited (NASDAQ:ICLR) will report $1.90 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for ICON Public’s earnings, with estimates ranging from $1.88 billion to $1.91 billion. ICON Public reported sales of $760.23 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 149.9%. The company is scheduled to issue its next earnings results on Wednesday, February 23rd.

On average, analysts expect that ICON Public will report full-year sales of $5.50 billion for the current fiscal year, with estimates ranging from $5.48 billion to $5.51 billion. For the next fiscal year, analysts forecast that the company will post sales of $8.00 billion, with estimates ranging from $7.93 billion to $8.22 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for ICON Public.

ICON Public (NASDAQ:ICLR) last announced its quarterly earnings data on Wednesday, November 3rd. The medical research company reported $2.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.39 by $0.16. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.84 billion. ICON Public had a net margin of 4.09% and a return on equity of 15.50%. The business’s revenue was up 166.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.72 EPS.

Several research analysts have recently weighed in on the stock. Mizuho lifted their target price on shares of ICON Public from $242.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, November 5th. Deutsche Bank Aktiengesellschaft raised their price target on shares of ICON Public from $234.00 to $287.00 and gave the stock a “hold” rating in a report on Tuesday, November 16th. JPMorgan Chase & Co. upgraded shares of ICON Public from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $230.00 to $320.00 in a report on Monday, September 27th. Barclays raised their price target on shares of ICON Public from $240.00 to $315.00 and gave the stock an “equal weight” rating in a report on Friday, November 5th. Finally, Zacks Investment Research upgraded shares of ICON Public from a “sell” rating to a “hold” rating in a report on Wednesday, October 6th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $278.17.

ICON Public stock opened at $273.87 on Friday. The firm’s 50 day simple moving average is $274.81 and its 200-day simple moving average is $246.09. The company has a market cap of $14.48 billion, a P/E ratio of 69.69, a price-to-earnings-growth ratio of 1.26 and a beta of 0.84. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.36 and a quick ratio of 1.36. ICON Public has a fifty-two week low of $168.76 and a fifty-two week high of $301.72.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Pinnacle Wealth Planning Services Inc. bought a new stake in shares of ICON Public in the 2nd quarter valued at about $208,000. Russell Investments Group Ltd. grew its stake in shares of ICON Public by 2.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 85,997 shares of the medical research company’s stock worth $18,176,000 after acquiring an additional 1,840 shares in the last quarter. Tradition Wealth Management LLC bought a new position in shares of ICON Public during the 2nd quarter worth approximately $41,000. KB Financial Partners LLC bought a new position in shares of ICON Public during the 1st quarter worth approximately $130,000. Finally, Carroll Financial Associates Inc. grew its stake in shares of ICON Public by 156.8% during the 3rd quarter. Carroll Financial Associates Inc. now owns 950 shares of the medical research company’s stock worth $248,000 after acquiring an additional 580 shares in the last quarter.

About ICON Public

ICON plc operates as a clinical research organization, which engages in the provision of outsourced development services to the pharmaceutical, biotechnology, and medical device industries. It specializes in the strategic development, management and analysis of programs that support clinical development.

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