ICON Public (NASDAQ:ICLR) Issues FY24 Earnings Guidance

ICON Public (NASDAQ:ICLR) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $14.65-$15.15 for the period, compared to the consensus estimate of $14.94. The company issued revenue guidance of $8.48-$8.72 billion, compared to the consensus revenue estimate of $8.64 billion.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Robert W. Baird raised their price target on ICON Public from $345.00 to $362.00 and gave the company an outperform rating in a research note on Thursday, April 4th. Evercore ISI boosted their price target on shares of ICON Public from $325.00 to $350.00 and gave the company an outperform rating in a report on Friday, February 23rd. Barclays increased their price objective on shares of ICON Public from $325.00 to $355.00 and gave the company an overweight rating in a research note on Friday, February 23rd. Mizuho restated a buy rating and set a $346.00 target price on shares of ICON Public in a report on Thursday, April 4th. Finally, Truist Financial increased their target price on ICON Public from $357.00 to $367.00 and gave the company a buy rating in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, ICON Public has a consensus rating of Moderate Buy and a consensus target price of $319.45.

ICON Public Stock Up 1.0 %

Shares of ICLR traded up $2.99 during midday trading on Wednesday, hitting $309.44. 956,119 shares of the company’s stock traded hands, compared to its average volume of 556,690. ICON Public has a 1 year low of $181.92 and a 1 year high of $344.77. The firm’s fifty day moving average is $317.97 and its 200-day moving average is $282.01. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $25.53 billion, a price-to-earnings ratio of 41.93, a price-to-earnings-growth ratio of 1.41 and a beta of 1.15.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings results on Wednesday, February 21st. The medical research company reported $3.40 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.13. ICON Public had a return on equity of 11.42% and a net margin of 7.54%. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.08 billion. As a group, sell-side analysts anticipate that ICON Public will post 14.4 earnings per share for the current year.

About ICON Public

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.