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

ICON Public (NASDAQ:ICLR) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 13.900-14.100 for the period, compared to the consensus estimate of 13.970. The company issued revenue guidance of $8.3 billion-$8.3 billion, compared to the consensus revenue estimate of $8.3 billion. ICON Public also updated its FY 2025 guidance to 13.000-15.000 EPS.

ICON Public Trading Down 8.1 %

Shares of ICON Public stock opened at $200.24 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The firm has a market cap of $16.52 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 1.54 and a beta of 1.20. ICON Public has a 52-week low of $183.38 and a 52-week high of $347.72. The company’s 50-day simple moving average is $211.31 and its 200-day simple moving average is $270.81.

ICON Public (NASDAQ:ICLR) last issued its 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 return on equity of 11.91% and a net margin of 9.00%. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the company posted $3.10 earnings per share. The business’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, equities research analysts anticipate that ICON Public will post 13.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ICLR. Leerink Partnrs raised shares of ICON Public to a “strong-buy” rating in a research note on Wednesday, September 18th. Evercore ISI lowered 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. Royal Bank of Canada began coverage on shares of ICON Public in a research report on Tuesday, January 7th. They set an “outperform” rating and a $263.00 price target for the company. Leerink Partners restated an “outperform” rating and issued a $255.00 price target (down previously from $270.00) on shares of ICON Public in a report on Tuesday, November 19th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $284.00 price objective (down from $295.00) on shares of ICON Public in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $287.00.

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.