Zacks: Analysts Anticipate INC Research Holdings, Inc. (NASDAQ:INCR) to Announce $0.58 Earnings Per Share
Brokerages expect INC Research Holdings, Inc. (NASDAQ:INCR) to post earnings per share (EPS) of $0.58 for the current quarter, Zacks reports. Eight analysts have provided estimates for INC Research Holdings’ earnings. The lowest EPS estimate is $0.56 and the highest is $0.60. INC Research Holdings reported earnings of $0.57 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 1.8%. The business is expected to report its next earnings results before the market opens on Thursday, July 27th.
On average, analysts expect that INC Research Holdings will report full-year earnings of $2.39 per share for the current financial year, with EPS estimates ranging from $2.36 to $2.41. For the next year, analysts anticipate that the business will report earnings of $2.83 per share, with EPS estimates ranging from $2.63 to $3.01. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow INC Research Holdings.
INC Research Holdings (NASDAQ:INCR) last released its quarterly earnings data on Wednesday, May 10th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.05. The company had revenue of $252.10 million during the quarter, compared to analyst estimates of $250.76 million. INC Research Holdings had a net margin of 7.37% and a return on equity of 43.17%. INC Research Holdings’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 EPS.
INCR has been the subject of several analyst reports. TheStreet upgraded INC Research Holdings from a “c” rating to a “b-” rating in a report on Monday, April 17th. Jefferies Group LLC restated a “buy” rating and set a $62.00 price target on shares of INC Research Holdings in a report on Friday, June 16th. SunTrust Banks, Inc. upgraded INC Research Holdings from a “hold” rating to a “buy” rating and raised their price target for the company from $48.00 to $67.00 in a report on Wednesday, May 31st. Zacks Investment Research upgraded INC Research Holdings from a “sell” rating to a “hold” rating in a report on Friday, May 5th. Finally, William Blair downgraded INC Research Holdings from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. INC Research Holdings presently has an average rating of “Hold” and an average target price of $62.00.
INC Research Holdings (NASDAQ INCR) traded up 0.09% during mid-day trading on Monday, hitting $57.00. 15,565 shares of the stock traded hands. The company has a 50-day moving average of $57.88 and a 200 day moving average of $50.86. INC Research Holdings has a 1-year low of $40.65 and a 1-year high of $61.10. The firm has a market capitalization of $3.08 billion, a P/E ratio of 27.12 and a beta of 1.47.
In other INC Research Holdings news, CEO Alistair Macdonald sold 10,555 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $58.38, for a total value of $616,200.90. Following the transaction, the chief executive officer now directly owns 83,935 shares of the company’s stock, valued at $4,900,125.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christopher L. Gaenzle sold 6,873 shares of the firm’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $58.32, for a total value of $400,833.36. Following the completion of the transaction, the chief accounting officer now directly owns 47,450 shares in the company, valued at $2,767,284. The disclosure for this sale can be found here. Insiders have sold 26,895 shares of company stock worth $1,443,049 over the last ninety days. 0.24% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. TradeLink Capital LLC purchased a new position in shares of INC Research Holdings during the first quarter valued at about $789,000. FMR LLC bought a new position in INC Research Holdings during the fourth quarter worth $13,618,000. Redmile Group LLC bought a new position in INC Research Holdings during the first quarter worth $29,059,000. Hudson Bay Capital Management LP bought a new position in INC Research Holdings during the fourth quarter worth $10,273,000. Finally, Alambic Investment Management L.P. boosted its position in INC Research Holdings by 301.9% in the first quarter. Alambic Investment Management L.P. now owns 42,600 shares of the company’s stock worth $1,953,000 after buying an additional 32,000 shares during the last quarter.
INC Research Holdings Company Profile
INC Research Holdings, Inc is a global contract research organization (CRO). The Company focuses on Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. The Company operates through two segments: Clinical Development Services and Phase I Services.
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