Icon (ICLR) Releases FY17 Earnings Guidance
Icon (NASDAQ:ICLR) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $5.30-5.40 for the period, compared to the Thomson Reuters consensus estimate of $5.37. The company issued revenue guidance of $1.74-1.75 billion, compared to the consensus revenue estimate of $1.76 billion.Icon also updated its FY18 guidance to $5.89-6.09 EPS.
Shares of Icon (ICLR) opened at $117.37 on Tuesday. Icon has a 1-year low of $76.46 and a 1-year high of $124.48. The firm has a market capitalization of $6,340.00, a PE ratio of 22.79, a price-to-earnings-growth ratio of 1.63 and a beta of 0.61. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.31.
Icon (NASDAQ:ICLR) last released its quarterly earnings results on Thursday, October 26th. The medical research company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.03. Icon had a return on equity of 28.42% and a net margin of 16.37%. The firm had revenue of $440.30 million for the quarter, compared to analysts’ expectations of $438.09 million. During the same quarter last year, the firm posted $1.19 EPS. The company’s revenue was up 4.8% compared to the same quarter last year. equities research analysts forecast that Icon will post 5.37 earnings per share for the current year.
ICLR has been the topic of several recent research reports. Zacks Investment Research lowered Icon from a buy rating to a hold rating in a research report on Wednesday, November 1st. Bank of America initiated coverage on Icon in a research report on Monday, September 11th. They set a buy rating and a $128.00 price target on the stock. Barclays raised their price target on Icon from $108.00 to $120.00 and gave the stock an equal weight rating in a research report on Friday, October 27th. Credit Suisse Group restated an outperform rating and set a $120.00 price target (up from $105.00) on shares of Icon in a research report on Monday, October 16th. Finally, Jefferies Group restated a buy rating and set a $122.00 price target on shares of Icon in a research report on Tuesday, September 12th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $121.36.
An institutional investor recently raised its position in Icon stock. Vanguard Group Inc. raised its stake in shares of Icon Plc (NASDAQ:ICLR) by 19.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,545 shares of the medical research company’s stock after buying an additional 2,400 shares during the quarter. Vanguard Group Inc.’s holdings in Icon were worth $1,422,000 at the end of the most recent quarter. Institutional investors own 89.66% of the company’s stock.
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Icon Company Profile
ICON public limited company is a contract research organization (CRO), which is engaged in providing outsourced development services to the pharmaceutical, biotechnology and medical device industries. The Company is engaged in the strategic development, management and analysis of programs that support the various stages of the clinical development process, from compound selection to Phase I-IV clinical studies.
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