Icon PLC (ICLR) Scheduled to Post Quarterly Earnings on Thursday
Icon PLC (NASDAQ:ICLR) will be announcing its earnings results on Thursday, October 20th. Analysts expect the company to announce earnings of $1.18 per share for the quarter. Icon PLC has set its FY16 guidance at $4.60-4.80 EPS.
Icon PLC (NASDAQ:ICLR) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $1.14 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.14. The firm had revenue of $411 million for the quarter, compared to analyst estimates of $409.97 million. Icon PLC had a return on equity of 29.89% and a net margin of 15.70%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company earned $0.95 EPS. On average, analysts expect Icon PLC to post $4.7 EPS for the current fiscal year and $5.3 EPS for the next fiscal year.
Shares of Icon PLC (NASDAQ:ICLR) opened at 78.94 on Wednesday. The stock has a 50 day moving average price of $76.78 and a 200-day moving average price of $72.36. Icon PLC has a 12 month low of $62.31 and a 12 month high of $79.80. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 18.25 and a beta of 0.66.
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A number of equities research analysts recently commented on ICLR shares. Robert W. Baird reiterated an “outperform” rating and issued a $83.00 target price on shares of Icon PLC in a research report on Monday, June 27th. KeyCorp reiterated a “buy” rating and issued a $85.00 target price on shares of Icon PLC in a research report on Wednesday, July 27th. Evercore ISI upgraded Icon PLC from a “hold” rating to a “buy” rating and boosted their target price for the stock from $81.50 to $89.00 in a research report on Friday, October 14th. Jefferies Group boosted their target price on Icon PLC from $78.00 to $80.00 and gave the stock a “hold” rating in a research report on Wednesday, July 27th. Finally, Zacks Investment Research upgraded Icon PLC from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research report on Wednesday, September 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. Icon PLC has a consensus rating of “Buy” and a consensus target price of $80.25.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ICLR. BlackRock Inc. boosted its position in Icon PLC by 8.8% in the second quarter. BlackRock Inc. now owns 3,175 shares of the company’s stock worth $222,000 after buying an additional 257 shares in the last quarter. BlackRock Group LTD acquired a new position in Icon PLC during the second quarter worth approximately $413,000. BlackRock Japan Co. Ltd acquired a new position in Icon PLC during the second quarter worth approximately $169,000. Sentry Investment Management LLC acquired a new position in Icon PLC during the second quarter worth approximately $1,787,000. Finally, Trexquant Investment LP acquired a new position in Icon PLC during the second quarter worth approximately $215,000. 93.73% of the stock is currently owned by hedge funds and other institutional investors.
About Icon PLC
ICON public limited company is a contract research organization (CRO), which is engaged in providing outsourced development services to the pharmaceutical, biotechnology and medical device industries. The Company is engaged in the strategic development, management and analysis of programs that support the various stages of the clinical development process, from compound selection to Phase I-IV clinical studies.
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