ICON Public (NASDAQ:ICLR) Issues FY24 Earnings Guidance

ICON Public (NASDAQ:ICLR) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $13.90-14.10 for the period, compared to the consensus estimate of $15.08. The company issued revenue guidance of $8.26-8.30 billion, compared to the consensus revenue estimate of $8.51 billion. ICON Public also updated its FY 2024 guidance to 13.900-14.100 EPS.

ICON Public Price Performance

Shares of NASDAQ:ICLR traded down $56.73 during trading on Thursday, reaching $224.03. The company had a trading volume of 4,952,401 shares, compared to its average volume of 604,278. ICON Public has a twelve month low of $223.96 and a twelve month high of $347.72. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.31 and a current ratio of 1.31. The firm has a market capitalization of $18.48 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. The firm’s fifty day moving average is $301.78 and its 200 day moving average is $311.59.

ICON Public (NASDAQ:ICLR) last issued its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.72 by ($0.37). ICON Public had a net margin of 8.57% and a return on equity of 12.06%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the business posted $3.10 earnings per share. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, equities analysts forecast that ICON Public will post 14.54 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Redburn Atlantic started coverage on shares of ICON Public in a report on Monday, October 14th. They issued a “neutral” rating and a $311.00 price target for the company. Evercore ISI reduced their target price on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Robert W. Baird cut ICON Public from an “outperform” rating to a “neutral” rating and set a $340.00 price target on the stock. in a report on Thursday. Barclays reduced their price objective on ICON Public from $350.00 to $330.00 and set an “overweight” rating for the company in a research note on Tuesday, October 15th. Finally, Leerink Partnrs raised ICON Public to a “strong-buy” rating in a research report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ICON Public has an average rating of “Moderate Buy” and an average price target of $346.09.

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.