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

ICON Public (NASDAQ:ICLR) posted its earnings results on Wednesday. The medical research company reported $3.75 earnings per share for the quarter, beating the consensus estimate of $3.68 by $0.07, Briefing.com reports. The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.14 billion. ICON Public had a net margin of 8.57% and a return on equity of 12.18%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.96 EPS. ICON Public updated its FY24 guidance to $15.00-$15.20 EPS.

ICON Public Price Performance

ICLR stock traded up $8.64 during mid-day trading on Friday, reaching $321.74. The company’s stock had a trading volume of 522,968 shares, compared to its average volume of 580,440. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $322.00 and its two-hundred day moving average is $308.25. ICON Public has a fifty-two week low of $221.20 and a fifty-two week high of $347.72. The stock has a market cap of $26.54 billion, a PE ratio of 38.74, a P/E/G ratio of 1.48 and a beta of 1.23.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ICLR. Barclays dropped their target price on ICON Public from $355.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday. TD Cowen boosted their price objective on ICON Public from $349.00 to $373.00 and gave the company a “buy” rating in a research report on Friday, May 31st. William Blair reiterated an “outperform” rating on shares of ICON Public in a research report on Friday, May 31st. Truist Financial boosted their price target on shares of ICON Public from $367.00 to $383.00 and gave the stock a “buy” rating in a report on Friday. Finally, The Goldman Sachs Group started coverage on shares of ICON Public in a report on Thursday, June 6th. They set a “buy” rating and a $370.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock 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.