Brokers Set Expectations for ICON PLC’s FY2017 Earnings (ICLR)
ICON PLC (NASDAQ:ICLR) – Research analysts at Jefferies Group boosted their FY2017 earnings per share estimates for shares of ICON PLC in a research note issued on Thursday. Jefferies Group analyst D. Windley now forecasts that the medical research company will post earnings of $5.37 per share for the year, up from their previous estimate of $5.29. Jefferies Group has a “Buy” rating and a $132.00 price target on the stock. Jefferies Group also issued estimates for ICON PLC’s Q4 2017 earnings at $1.42 EPS, Q1 2018 earnings at $1.36 EPS, Q2 2018 earnings at $1.41 EPS, Q3 2018 earnings at $1.52 EPS, Q4 2018 earnings at $1.58 EPS, FY2018 earnings at $5.87 EPS and FY2019 earnings at $6.50 EPS.
ICON PLC (NASDAQ:ICLR) last announced its quarterly earnings data on Thursday, October 26th. The medical research company reported $1.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.03. The business had revenue of $440.30 million during the quarter, compared to analyst estimates of $438.09 million. ICON PLC had a return on equity of 28.42% and a net margin of 16.37%. The company’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.19 earnings per share.
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Several other research firms have also weighed in on ICLR. SunTrust Banks, Inc. reiterated a “buy” rating and set a $138.00 target price on shares of ICON PLC in a report on Sunday. Barclays PLC lifted their target price on ICON PLC from $108.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday. Credit Suisse Group reiterated an “outperform” rating and set a $120.00 target price (up from $105.00) on shares of ICON PLC in a report on Monday, October 16th. Robert W. Baird reiterated a “buy” rating and set a $123.00 target price on shares of ICON PLC in a report on Thursday, October 12th. Finally, Zacks Investment Research upgraded ICON PLC from a “sell” rating to a “hold” rating and set a $128.00 target price on the stock in a report on Wednesday, October 11th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $120.60.
Shares of ICON PLC (NASDAQ:ICLR) opened at 121.14 on Monday. The firm has a market cap of $6.55 billion, a price-to-earnings ratio of 24.57 and a beta of 0.59. The stock has a 50 day moving average price of $113.86 and a 200 day moving average price of $100.60. ICON PLC has a one year low of $73.76 and a one year high of $123.53.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its holdings in ICON PLC by 117.2% in the third quarter. Victory Capital Management Inc. now owns 154,079 shares of the medical research company’s stock valued at $17,546,000 after purchasing an additional 83,132 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in ICON PLC by 7.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 20,417 shares of the medical research company’s stock worth $2,325,000 after acquiring an additional 1,422 shares during the period. Aperio Group LLC grew its holdings in ICON PLC by 5.8% during the 3rd quarter. Aperio Group LLC now owns 14,958 shares of the medical research company’s stock worth $1,703,000 after acquiring an additional 822 shares during the period. GRATRY & Co LLC grew its holdings in ICON PLC by 5.1% during the 3rd quarter. GRATRY & Co LLC now owns 30,144 shares of the medical research company’s stock worth $3,433,000 after acquiring an additional 1,474 shares during the period. Finally, BB&T Corp acquired a new stake in ICON PLC during the 3rd quarter worth about $324,000. Institutional investors and hedge funds own 91.51% of the company’s stock.
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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