ICON Public (NASDAQ:ICLR) Updates FY24 Earnings Guidance

ICON Public (NASDAQ:ICLR) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $14.65-$15.15 for the period, compared to the consensus earnings per share estimate of $14.94. The company issued revenue guidance of $8.48-$8.72 billion, compared to the consensus revenue estimate of $8.64 billion.

ICON Public Stock Up 2.7 %

ICON Public stock traded up $8.23 during trading on Friday, reaching $308.31. The stock had a trading volume of 715,419 shares, compared to its average volume of 520,157. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.36. ICON Public has a 52-week low of $181.92 and a 52-week high of $344.77. The business has a 50 day moving average price of $318.89 and a 200 day moving average price of $282.81. The stock has a market cap of $25.44 billion, a PE ratio of 37.51, a P/E/G ratio of 1.42 and a beta of 1.15.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings data on Wednesday, February 21st. The medical research company reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.13. ICON Public had a net margin of 8.30% and a return on equity of 11.70%. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.08 billion. On average, analysts predict that ICON Public will post 14.4 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on ICLR shares. Evercore ISI dropped their price objective on shares of ICON Public from $350.00 to $330.00 and set an outperform rating on the stock in a research note on Friday. Mizuho reissued a buy rating and issued a $346.00 price objective on shares of ICON Public in a research note on Thursday, April 4th. Robert W. Baird boosted their target price on shares of ICON Public from $362.00 to $363.00 and gave the stock an outperform rating in a research report on Friday. TD Cowen boosted their target price on shares of ICON Public from $343.00 to $349.00 and gave the stock a buy rating in a research report on Friday. Finally, Barclays boosted their target price on shares of ICON Public from $325.00 to $355.00 and gave the stock an overweight rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $321.64.

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.