Icon Plc (ICLR) Expected to Announce Quarterly Sales of $439.45 Million
Equities analysts predict that Icon Plc (NASDAQ:ICLR) will announce $439.45 million in sales for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for Icon Plc’s earnings. The highest sales estimate is $447.30 million and the lowest is $434.61 million. Icon Plc reported sales of $420.20 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4.6%. The company is expected to report its next earnings results before the market opens on Thursday, October 26th.
On average, analysts expect that Icon Plc will report full-year sales of $439.45 million for the current financial year, with estimates ranging from $1.75 billion to $1.77 billion. For the next financial year, analysts anticipate that the company will report sales of $1.89 billion per share, with estimates ranging from $1.85 billion to $1.96 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Icon Plc.
Icon Plc (NASDAQ:ICLR) last released its quarterly earnings data on Thursday, July 27th. The medical research company reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.01. Icon Plc had a net margin of 15.97% and a return on equity of 28.72%. The business had revenue of $431.00 million for the quarter, compared to analysts’ expectations of $430.68 million. During the same quarter last year, the company earned $1.14 EPS. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year.
A number of research analysts recently issued reports on ICLR shares. Zacks Investment Research cut Icon Plc from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine cut Icon Plc from a “buy” rating to a “hold” rating in a report on Monday. Jefferies Group LLC reissued a “buy” rating and set a $122.00 price objective on shares of Icon Plc in a report on Tuesday, September 12th. Finally, Bank of America Corporation started coverage on Icon Plc in a report on Monday, September 11th. They set a “buy” rating and a $128.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $113.00.
Hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of Icon Plc by 16.8% in the 2nd quarter. Principal Financial Group Inc. now owns 448,115 shares of the medical research company’s stock valued at $43,821,000 after acquiring an additional 64,456 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Icon Plc by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 312,735 shares of the medical research company’s stock valued at $30,582,000 after acquiring an additional 1,947 shares during the last quarter. Morgan Stanley increased its stake in shares of Icon Plc by 89.8% in the 1st quarter. Morgan Stanley now owns 147,238 shares of the medical research company’s stock valued at $11,737,000 after acquiring an additional 69,669 shares during the last quarter. Wesbanco Bank Inc. increased its stake in shares of Icon Plc by 18.6% in the 2nd quarter. Wesbanco Bank Inc. now owns 18,044 shares of the medical research company’s stock valued at $1,765,000 after acquiring an additional 2,830 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Icon Plc in the 2nd quarter valued at about $626,000. 91.53% of the stock is owned by institutional investors.
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Icon Plc (ICLR) traded down 0.43% during mid-day trading on Thursday, hitting $113.87. 24,088 shares of the company were exchanged. The stock’s 50 day moving average is $111.32 and its 200-day moving average is $96.40. The company has a market cap of $6.15 billion, a price-to-earnings ratio of 23.10 and a beta of 0.59. Icon Plc has a 12-month low of $73.76 and a 12-month high of $117.53.
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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