Icon Plc (ICLR) Expected to Post Quarterly Sales of $429.66 Million
Analysts expect Icon Plc (NASDAQ:ICLR) to announce sales of $429.66 million for the current quarter, according to Zacks. Eight analysts have provided estimates for Icon Plc’s earnings, with estimates ranging from $420.50 million to $437.90 million. Icon Plc reported sales of $410.63 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4.6%. The company is scheduled to report its next quarterly earnings report before the market opens on Thursday, July 27th.
According to Zacks, analysts expect that Icon Plc will report full-year sales of $429.66 million for the current fiscal year, with estimates ranging from $1.71 billion to $1.73 billion. For the next financial year, analysts anticipate that the company will report sales of $1.81 billion per share, with estimates ranging from $1.77 billion to $1.86 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Icon Plc.
Icon Plc (NASDAQ:ICLR) last announced its earnings results on Thursday, April 27th. The medical research company reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.02. Icon Plc had a return on equity of 28.89% and a net margin of 16.15%. The business had revenue of $432 million during the quarter, compared to analysts’ expectations of $432.21 million. During the same quarter last year, the business posted $1.12 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis.
Several equities research analysts have recently commented on ICLR shares. Mizuho started coverage on Icon Plc in a research note on Thursday, March 23rd. They issued a “neutral” rating and a $66.00 target price for the company. Jefferies Group LLC raised Icon Plc from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $86.00 to $117.00 in a research note on Thursday, June 29th. Credit Suisse Group reaffirmed an “outperform” rating and set a $102.00 price objective (up from $91.00) on shares of Icon Plc in a research note on Tuesday, June 6th. Robert W. Baird decreased their price objective on Icon Plc from $107.00 to $97.00 and set an “outperform” rating for the company in a research note on Friday, June 9th. Finally, Zacks Investment Research cut Icon Plc from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $96.00.
A number of hedge funds and other institutional investors have recently bought and sold shares of ICLR. Legato Capital Management LLC raised its position in Icon Plc by 7,872.0% in the first quarter. Legato Capital Management LLC now owns 6,078,411 shares of the medical research company’s stock valued at $76,247,000 after buying an additional 6,002,164 shares in the last quarter. Cim LLC raised its position in Icon Plc by 4.6% in the first quarter. Cim LLC now owns 6,095 shares of the medical research company’s stock valued at $486,000 after buying an additional 270 shares in the last quarter. Atria Investments LLC acquired a new position in Icon Plc during the first quarter valued at $214,000. Parametrica Management Ltd acquired a new position in Icon Plc during the first quarter valued at $539,000. Finally, Bank of Montreal Can raised its position in Icon Plc by 741.0% in the first quarter. Bank of Montreal Can now owns 202,675 shares of the medical research company’s stock valued at $16,156,000 after buying an additional 178,576 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.
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Shares of Icon Plc (NASDAQ:ICLR) traded up 0.05% on Friday, reaching $99.85. The company had a trading volume of 177,355 shares. Icon Plc has a one year low of $70.68 and a one year high of $101.40. The company has a 50-day moving average price of $97.18 and a 200-day moving average price of $86.47. The firm has a market cap of $5.37 billion, a P/E ratio of 20.72 and a beta of 0.59.
Icon Plc Company Profile
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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