ICON Public (NASDAQ:ICLR) Releases Earnings Results, Misses Expectations By $0.37 EPS

ICON Public (NASDAQ:ICLR) announced its quarterly earnings data on Wednesday. The medical research company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.72 by ($0.37), Briefing.com reports. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.13 billion. ICON Public had a net margin of 8.57% and a return on equity of 12.06%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.10 earnings per share. ICON Public updated its FY24 guidance to $13.90-14.10 EPS and its FY 2024 guidance to 13.900-14.100 EPS.

ICON Public Trading Down 16.3 %

ICLR stock traded down $45.72 during mid-day trading on Thursday, hitting $235.04. 1,419,078 shares of the company were exchanged, compared to its average volume of 588,330. ICON Public has a 12-month low of $224.17 and a 12-month high of $347.72. The firm has a market capitalization of $19.39 billion, a P/E ratio of 28.72, a PEG ratio of 1.35 and a beta of 1.22. The business has a fifty day simple moving average of $301.78 and a 200-day simple moving average of $311.59. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.36.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ICLR. Barclays cut their target price on ICON Public from $350.00 to $330.00 and set an “overweight” rating for the company in a research report on Tuesday, October 15th. Evercore ISI dropped their price target on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Leerink Partnrs raised shares of ICON Public to a “strong-buy” rating in a research report on Wednesday, September 18th. Leerink Partners began coverage on ICON Public in a research report on Wednesday, September 18th. They set an “outperform” rating and a $379.00 target price for the company. Finally, Redburn Atlantic started coverage on ICON Public in a research note on Monday, October 14th. They set a “neutral” rating and a $311.00 target price on the stock. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ICON Public presently has an average rating of “Moderate Buy” and a consensus target price of $346.09.

ICON Public Company Profile

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.