Icon Plc (ICLR) Forecasted to Post Q1 2018 Earnings of $1.44 Per Share
Icon Plc (NASDAQ:ICLR) – Analysts at William Blair increased their Q1 2018 EPS estimates for Icon in a research note issued to investors on Tuesday. William Blair analyst J. Kreger now anticipates that the medical research company will post earnings of $1.44 per share for the quarter, up from their prior forecast of $1.43. William Blair also issued estimates for Icon’s Q2 2018 earnings at $1.47 EPS and Q3 2018 earnings at $1.47 EPS.
Several other research firms also recently commented on ICLR. Zacks Investment Research upgraded shares of Icon from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a research note on Tuesday. SunTrust Banks reiterated a “buy” rating and set a $138.00 price objective on shares of Icon in a research note on Sunday, October 29th. Credit Suisse Group reiterated an “outperform” rating and set a $120.00 price objective (up from $105.00) on shares of Icon in a research note on Monday, October 16th. Robert W. Baird reiterated a “buy” rating and set a $123.00 price objective on shares of Icon in a research note on Thursday, October 12th. Finally, KeyCorp restated an “overweight” rating and set a $125.00 target price (up from $115.00) on shares of Icon in a research report on Monday, November 13th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Icon has an average rating of “Buy” and a consensus target price of $121.36.
Shares of Icon (NASDAQ ICLR) opened at $118.72 on Wednesday. Icon has a one year low of $76.46 and a one year high of $124.48. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.31. The company has a market cap of $6,420.00, a price-to-earnings ratio of 23.05, a PEG ratio of 1.63 and a beta of 0.61.
Icon (NASDAQ:ICLR) last posted its quarterly earnings data on Thursday, October 26th. The medical research company reported $1.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.03. Icon had a net margin of 16.37% and a return on equity of 28.42%. The business had revenue of $440.30 million during the quarter, compared to the consensus estimate of $438.09 million. During the same period in the previous year, the firm posted $1.19 earnings per share. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acrospire Investment Management LLC increased its stake in shares of Icon by 20.1% during the second quarter. Acrospire Investment Management LLC now owns 1,195 shares of the medical research company’s stock worth $117,000 after purchasing an additional 200 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Icon during the third quarter worth about $148,000. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Icon during the second quarter worth about $208,000. Commonwealth Equity Services Inc purchased a new stake in shares of Icon during the third quarter worth about $208,000. Finally, Holderness Investments Co. purchased a new stake in shares of Icon during the third quarter worth about $216,000. 89.66% of the stock is owned by institutional investors.
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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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