ICON Public (NASDAQ:ICLR) Updates FY 2024 Earnings Guidance

by · The Markets Daily

ICON Public (NASDAQ:ICLR – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 13.900-14.100 for the period, compared to the consensus EPS estimate of 15.060. The company issued revenue guidance of $8.3 billion-$8.3 billion, compared to the consensus revenue estimate of $8.5 billion. ICON Public also updated its FY24 guidance to $13.90-14.10 EPS.

ICON Public Stock Performance

Shares of ICON Public stock traded down $59.03 on Thursday, reaching $221.73. The stock had a trading volume of 6,190,963 shares, compared to its average volume of 611,493. ICON Public has a fifty-two week low of $220.51 and a fifty-two week high of $347.72. The business’s 50-day moving average price is $301.78 and its two-hundred day moving average price is $311.59. 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 stock has a market cap of $18.29 billion, a P/E ratio of 28.72, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ICLR shares. Leerink Partners started coverage on shares of ICON Public in a report on Wednesday, September 18th. They set an “outperform” rating and a $379.00 price objective on the stock. Barclays decreased their price target on shares of ICON Public from $350.00 to $330.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 15th. Evercore ISI decreased their target price on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Robert W. Baird lowered shares of ICON Public from an “outperform” rating to a “neutral” rating and set a $340.00 price target for the company. in a research report on Thursday. Finally, Leerink Partnrs upgraded shares of ICON Public to a “strong-buy” rating in a research note on Wednesday, September 18th. Three 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $346.09.

View Our Latest Research Report on ICON Public

About ICON Public

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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.

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