Q3 2017 Earnings Estimate for INC Research Holdings, Inc. Issued By Jefferies Group (INCR)
INC Research Holdings, Inc. (NASDAQ:INCR) – Investment analysts at Jefferies Group upped their Q3 2017 earnings per share estimates for shares of INC Research Holdings in a research report issued to clients and investors on Monday. Jefferies Group analyst D. Windley now forecasts that the company will post earnings of $0.57 per share for the quarter, up from their prior forecast of $0.56. Jefferies Group currently has a “Buy” rating and a $69.00 target price on the stock. Jefferies Group also issued estimates for INC Research Holdings’ FY2017 earnings at $2.29 EPS, Q3 2018 earnings at $0.72 EPS, Q4 2018 earnings at $0.77 EPS, FY2018 earnings at $2.88 EPS and FY2019 earnings at $3.52 EPS.
INC Research Holdings (NASDAQ:INCR) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.64 earnings per share for the quarter, hitting the consensus estimate of $0.64. INC Research Holdings had a net margin of 5.69% and a return on equity of 40.69%. The firm had revenue of $258.10 million during the quarter, compared to analysts’ expectations of $256.76 million. During the same quarter in the prior year, the company earned $0.61 EPS. The company’s revenue was down .3% compared to the same quarter last year.
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INCR has been the subject of several other research reports. Zacks Investment Research lowered shares of INC Research Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. BidaskClub lowered shares of INC Research Holdings from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Mizuho initiated coverage on shares of INC Research Holdings in a research note on Thursday, September 21st. They issued a “neutral” rating and a $57.00 price objective for the company. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $65.00 price objective on shares of INC Research Holdings in a research note on Monday, August 7th. Finally, Robert W. Baird reissued a “buy” rating and issued a $67.00 price objective on shares of INC Research Holdings in a research note on Monday. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $63.75.
Shares of INC Research Holdings (NASDAQ:INCR) opened at 54.95 on Wednesday. The stock has a market cap of $2.98 billion, a PE ratio of 33.67 and a beta of 1.34. INC Research Holdings has a 12 month low of $40.65 and a 12 month high of $61.10. The stock has a 50 day moving average of $54.89 and a 200 day moving average of $53.53.
In related news, CEO Alistair Macdonald sold 8,828 shares of INC Research Holdings stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $55.65, for a total value of $491,278.20. Following the completion of the transaction, the chief executive officer now owns 110,629 shares in the company, valued at $6,156,503.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gregory S. Rush sold 9,703 shares of INC Research Holdings stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $54.48, for a total transaction of $528,619.44. Following the completion of the transaction, the chief financial officer now owns 78,593 shares of the company’s stock, valued at approximately $4,281,746.64. The disclosure for this sale can be found here. Insiders sold 198,321 shares of company stock valued at $11,550,792 in the last quarter. 0.24% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of INCR. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in INC Research Holdings by 14.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,765 shares of the company’s stock worth $103,000 after acquiring an additional 228 shares during the last quarter. Invictus RG purchased a new position in INC Research Holdings in the first quarter worth approximately $115,000. Pacad Investment Ltd. purchased a new position in INC Research Holdings in the second quarter worth approximately $123,000. Foresters Investment Management Company Inc. purchased a new position in INC Research Holdings in the first quarter worth approximately $128,000. Finally, Riverhead Capital Management LLC purchased a new position in INC Research Holdings in the second quarter worth approximately $128,000. Institutional investors own 54.56% of the company’s stock.
About INC Research Holdings
INC Research Holdings, Inc is a global contract research organization (CRO). The Company focuses on Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. The Company operates through two segments: Clinical Development Services and Phase I Services.
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