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 EPS guidance of $15.00-$15.20 for the period, compared to the consensus EPS estimate of $15.07. The company issued revenue guidance of $8.45-$8.55 billion, compared to the consensus revenue estimate of $8.64 billion.

ICON Public Stock Performance

ICLR stock traded down $18.67 on Thursday, hitting $313.10. The company’s stock had a trading volume of 1,550,372 shares, compared to its average volume of 580,845. The firm has a 50 day moving average of $322.05 and a two-hundred day moving average of $308.22. ICON Public has a 1 year low of $221.20 and a 1 year high of $347.72. The stock has a market cap of $25.83 billion, a price-to-earnings ratio of 38.14, a price-to-earnings-growth ratio of 1.48 and a beta of 1.23. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.36.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $3.75 EPS for the quarter, beating the consensus estimate of $3.68 by $0.07. ICON Public had a net margin of 8.30% and a return on equity of 11.70%. The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the prior year, the firm earned $2.96 EPS. ICON Public’s revenue for the quarter was up 4.1% on a year-over-year basis. Equities analysts predict that ICON Public will post 14.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. TD Cowen boosted their price objective on shares of ICON Public from $349.00 to $373.00 and gave the company a buy rating in a research note on Friday, May 31st. Evercore ISI dropped their price objective on shares of ICON Public from $350.00 to $330.00 and set an outperform rating on the stock in a research note on Friday, April 26th. William Blair reissued an outperform rating on shares of ICON Public in a research note on Friday, May 31st. The Goldman Sachs Group assumed coverage on shares of ICON Public in a research note on Thursday, June 6th. They issued a buy rating and a $370.00 price objective on the stock. Finally, Mizuho reissued a buy rating and issued a $346.00 price objective on shares of ICON Public in a research note on Thursday, April 4th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, ICON Public presently has an average rating of Moderate Buy and an average target price of $351.33.

ICON Public Company Profile

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.