ICON Public (NASDAQ:ICLR) Posts Earnings Results, Beats Estimates By $0.07 EPS

ICON Public (NASDAQ:ICLR) released its quarterly earnings results on Wednesday. The medical research company reported $3.75 EPS for the quarter, topping the consensus estimate of $3.68 by $0.07, Briefing.com reports. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.14 billion. ICON Public had a return on equity of 12.06% and a net margin of 8.57%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the business posted $2.96 earnings per share. ICON Public updated its FY24 guidance to $15.00-$15.20 EPS.

ICON Public Stock Up 3.3 %

Shares of ICON Public stock opened at $323.46 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.31 and a quick ratio of 1.21. The stock has a market cap of $26.69 billion, a price-to-earnings ratio of 39.35, a PEG ratio of 1.40 and a beta of 1.23. The firm’s 50-day moving average is $322.17 and its two-hundred day moving average is $308.60. ICON Public has a 1 year low of $221.20 and a 1 year high of $347.72.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barclays decreased their price target on ICON Public from $355.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday. TD Cowen increased their price objective on shares of ICON Public from $349.00 to $373.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. The Goldman Sachs Group initiated coverage on ICON Public in a report on Thursday, June 6th. They issued a “buy” rating and a $370.00 price target on the stock. Robert W. Baird increased their target price on ICON Public from $367.00 to $376.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Finally, Truist Financial boosted their target price on shares of ICON Public from $367.00 to $383.00 and gave the company a “buy” rating in a research note on Friday. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $352.56.

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.