Icon (ICLR) Updates FY18 Earnings Guidance
Icon (NASDAQ:ICLR) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.89-6.09 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.93. The company issued revenue guidance of $1.87-1.93 billion, compared to the consensus revenue estimate of $1.89 billion.Icon also updated its FY17 guidance to $5.30-5.40 EPS.
Icon (NASDAQ ICLR) opened at $117.81 on Thursday. Icon has a 1-year low of $76.46 and a 1-year high of $124.48. The firm has a market cap of $6,370.00, a P/E ratio of 22.88, a P/E/G ratio of 1.63 and a beta of 0.61. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.90 and a quick ratio of 1.90.
Icon (NASDAQ:ICLR) last announced its quarterly earnings data on Thursday, October 26th. The medical research company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.03. Icon had a net margin of 16.37% and a return on equity of 28.42%. The company had revenue of $440.30 million during the quarter, compared to analyst estimates of $438.09 million. During the same period in the previous year, the business earned $1.19 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. analysts anticipate that Icon will post 5.37 earnings per share for the current year.
A number of equities analysts recently weighed in on ICLR shares. Zacks Investment Research lowered shares of Icon from a buy rating to a hold rating in a report on Friday, September 15th. ValuEngine lowered shares of Icon from a buy rating to a hold rating in a report on Monday, October 2nd. Jefferies Group boosted their price objective on shares of Icon from $122.00 to $132.00 and gave the stock a buy rating in a report on Monday, October 9th. Robert W. Baird restated a buy rating and issued a $123.00 price objective on shares of Icon in a report on Thursday, October 12th. Finally, Credit Suisse Group reaffirmed an outperform rating and issued a $120.00 target price (up previously from $105.00) on shares of Icon in a research report on Monday, October 16th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $121.36.
A hedge fund recently raised its stake in Icon stock. Vanguard Group Inc. boosted its stake in Icon Plc (NASDAQ:ICLR) by 19.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,545 shares of the medical research company’s stock after purchasing an additional 2,400 shares during the period. Vanguard Group Inc.’s holdings in Icon were worth $1,422,000 at the end of the most recent quarter. 89.66% of the stock is owned by institutional investors.
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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