ICON Public (NASDAQ:ICLR) Releases FY 2024 Earnings Guidance

ICON Public (NASDAQ:ICLR) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 13.900-14.100 for the period, compared to the consensus earnings per share estimate of 15.060. The company issued revenue guidance of $8.3 billion-$8.3 billion, compared to the consensus revenue estimate of $8.5 billion. ICON Public also updated its FY24 guidance to $13.90-14.10 EPS.

ICON Public Trading Down 0.4 %

Shares of ICLR stock traded down $0.86 on Friday, hitting $220.87. The stock had a trading volume of 1,634,592 shares, compared to its average volume of 616,444. The firm has a market cap of $18.22 billion, a P/E ratio of 26.88, a PEG ratio of 1.35 and a beta of 1.22. ICON Public has a twelve month low of $220.51 and a twelve month high of $347.72. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.36. The company has a fifty day moving average price of $299.79 and a two-hundred day moving average price of $310.96.

ICON Public (NASDAQ:ICLR) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.72 by ($0.37). ICON Public had a return on equity of 12.06% and a net margin of 8.57%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the company earned $3.10 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year. As a group, analysts forecast that ICON Public will post 14.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of ICON Public from $375.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday. Evercore ISI lowered their target price on ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Barclays cut their price target on ICON Public from $330.00 to $275.00 and set an “overweight” rating on the stock in a report on Friday. StockNews.com downgraded ICON Public from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Finally, Leerink Partnrs raised ICON Public to a “strong-buy” rating in a research report on Wednesday, September 18th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $318.45.

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.