ICON Public (NASDAQ:ICLR) Updates FY24 Earnings Guidance

ICON Public (NASDAQ:ICLR) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $13.90-14.10 for the period, compared to the consensus EPS estimate of $13.98. The company issued revenue guidance of $8.26-8.30 billion, compared to the consensus revenue estimate of $8.28 billion. ICON Public also updated its FY 2024 guidance to 13.900-14.100 EPS.

Wall Street Analyst Weigh In

ICLR has been the subject of several research reports. Baird R W cut shares of ICON Public from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. TD Cowen reduced their target price on shares of ICON Public from $369.00 to $285.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Barclays lowered their target price on ICON Public from $330.00 to $275.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Truist Financial reaffirmed a “buy” rating and set a $284.00 price target (down previously from $295.00) on shares of ICON Public in a research note on Wednesday, December 18th. Finally, Robert W. Baird decreased their price objective on shares of ICON Public from $249.00 to $225.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $287.00.

ICON Public Stock Performance

Shares of ICLR opened at $199.47 on Thursday. The stock has a market capitalization of $16.46 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 1.59 and a beta of 1.20. The business’s fifty day moving average price is $210.79 and its 200 day moving average price is $270.01. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 1.34. ICON Public has a 12-month low of $183.38 and a 12-month high of $347.72.

ICON Public (NASDAQ:ICLR) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.72 by ($0.37). ICON Public had a net margin of 9.00% and a return on equity of 11.91%. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the company posted $3.10 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities research analysts forecast that ICON Public will post 13.41 EPS for the current year.

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.