$1.73 EPS Expected for Icon Plc (NASDAQ:ICLR) This Quarter

Wall Street brokerages expect Icon Plc (NASDAQ:ICLR) to post $1.73 earnings per share (EPS) for the current quarter, Zacks reports. Six analysts have issued estimates for Icon’s earnings, with estimates ranging from $1.71 to $1.75. Icon reported earnings per share of $1.54 in the same quarter last year, which suggests a positive year-over-year growth rate of 12.3%. The company is scheduled to issue its next earnings report after the market closes on Wednesday, October 23rd.

According to Zacks, analysts expect that Icon will report full year earnings of $6.88 per share for the current financial year, with EPS estimates ranging from $6.85 to $6.91. For the next year, analysts anticipate that the firm will post earnings of $7.68 per share, with EPS estimates ranging from $7.54 to $7.82. Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for Icon.

Icon (NASDAQ:ICLR) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $1.69 EPS for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.01. Icon had a return on equity of 25.02% and a net margin of 13.05%. The business had revenue of $695.14 million for the quarter, compared to analyst estimates of $693.56 million. During the same quarter in the prior year, the firm posted $1.51 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis.

Several brokerages recently weighed in on ICLR. Mizuho increased their target price on Icon from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. ValuEngine downgraded Icon from a “buy” rating to a “hold” rating in a research note on Wednesday, September 11th. KeyCorp increased their target price on Icon from $157.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. UBS Group upgraded Icon from a “sell” rating to a “neutral” rating and increased their target price for the company from $135.00 to $171.00 in a research note on Friday, July 26th. Finally, BidaskClub downgraded Icon from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $165.29.

A number of large investors have recently made changes to their positions in the stock. Invesco Ltd. lifted its position in shares of Icon by 6,790.7% in the 2nd quarter. Invesco Ltd. now owns 536,782 shares of the medical research company’s stock worth $82,648,000 after acquiring an additional 528,992 shares during the period. Comgest Global Investors S.A.S. lifted its position in shares of Icon by 107.7% in the 2nd quarter. Comgest Global Investors S.A.S. now owns 1,005,369 shares of the medical research company’s stock worth $154,796,000 after acquiring an additional 521,316 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Icon by 53.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 442,829 shares of the medical research company’s stock worth $68,183,000 after acquiring an additional 154,142 shares during the period. Clearbridge Investments LLC lifted its position in shares of Icon by 5.9% in the 1st quarter. Clearbridge Investments LLC now owns 2,353,035 shares of the medical research company’s stock worth $321,378,000 after acquiring an additional 130,954 shares during the period. Finally, Wasatch Advisors Inc. lifted its position in shares of Icon by 8.7% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,522,157 shares of the medical research company’s stock worth $234,367,000 after acquiring an additional 121,995 shares during the period. Hedge funds and other institutional investors own 83.37% of the company’s stock.

NASDAQ:ICLR remained flat at $$146.96 during mid-day trading on Wednesday. The company had a trading volume of 158,126 shares, compared to its average volume of 264,911. The firm’s 50 day moving average price is $151.86 and its 200 day moving average price is $146.41. Icon has a 1 year low of $118.10 and a 1 year high of $165.13. The company has a market capitalization of $7.81 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 2.03 and a beta of 0.67. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.28.

Icon Company Profile

ICON Public Limited Company, a clinical research organization, provides outsourced development services to the pharmaceutical, biotechnology, and medical device industries in Ireland, rest of Europe, the United States, and internationally. It 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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Earnings History and Estimates for Icon (NASDAQ:ICLR)

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