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

ICON Public (NASDAQ:ICLR) issued its quarterly earnings results on Wednesday. The medical research company reported $3.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.68 by $0.07, Briefing.com reports. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.14 billion. ICON Public had a return on equity of 12.06% and a net margin of 8.57%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.96 earnings per share. ICON Public updated its FY24 guidance to $15.00-$15.20 EPS.

ICON Public Price Performance

Shares of ICLR traded up $10.36 during trading hours on Friday, reaching $323.46. The stock had a trading volume of 908,602 shares, compared to its average volume of 788,375. ICON Public has a 12 month low of $221.20 and a 12 month high of $347.72. The stock has a market capitalization of $26.69 billion, a PE ratio of 39.35, a PEG ratio of 1.40 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 1.31. The company’s 50-day moving average is $322.17 and its two-hundred day moving average is $308.60.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ICLR. William Blair reiterated an “outperform” rating on shares of ICON Public in a research note on Friday, May 31st. Evercore ISI cut their price target on ICON Public from $350.00 to $330.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Mizuho reiterated 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 price target on ICON Public from $349.00 to $373.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, Barclays lowered their price objective on shares of ICON Public from $355.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, ICON Public currently has a consensus rating of “Moderate Buy” and a consensus target price of $352.56.

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.