ICON Public (NASDAQ:ICLR) Updates FY24 Earnings Guidance

ICON Public (NASDAQ:ICLR) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $13.90-14.10 for the period, compared to the consensus earnings per share estimate of $13.98. The company issued revenue guidance of $8.26-8.30 billion, compared to the consensus revenue estimate of $8.28 billion. ICON Public also updated its FY 2024 guidance to 13.900-14.100 EPS.

ICON Public Stock Performance

Shares of ICLR opened at $199.47 on Thursday. The firm has a 50-day moving average price of $210.79 and a 200 day moving average price of $270.01. The firm has a market capitalization of $16.46 billion, a PE ratio of 22.24, a P/E/G ratio of 1.59 and a beta of 1.20. ICON Public has a 52-week low of $183.38 and a 52-week high of $347.72. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.35.

ICON Public (NASDAQ:ICLR) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.72 by ($0.37). The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.13 billion. ICON Public had a net margin of 9.00% and a return on equity of 11.91%. ICON Public’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.10 EPS. On average, sell-side analysts anticipate that ICON Public will post 13.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on ICLR shares. Evercore ISI decreased their target price on ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Truist Financial restated a “buy” rating and set a $284.00 price objective (down previously from $295.00) on shares of ICON Public in a research report on Wednesday, December 18th. TD Cowen dropped their target price on shares of ICON Public from $369.00 to $285.00 and set a “buy” rating on the stock in a report on Friday, October 25th. The Goldman Sachs Group reduced their target price on shares of ICON Public from $370.00 to $280.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Leerink Partners reaffirmed an “outperform” rating and issued a $255.00 price target (down previously from $270.00) on shares of ICON Public in a report on Tuesday, November 19th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ICON Public presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.00.

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.