FY2017 EPS Estimates for ICON PLC Boosted by Analyst (ICLR)
ICON PLC (NASDAQ:ICLR) – Equities research analysts at SunTrust Banks raised their FY2017 EPS estimates for shares of ICON PLC in a note issued to investors on Monday. SunTrust Banks analyst S. Draper now forecasts that the medical research company will post earnings of $5.37 per share for the year, up from their previous estimate of $5.28. SunTrust Banks currently has a “Buy” rating and a $138.00 target price on the stock. SunTrust Banks also issued estimates for ICON PLC’s Q4 2017 earnings at $1.41 EPS and FY2019 earnings at $7.10 EPS.
ICON PLC (NASDAQ:ICLR) last released its quarterly earnings results 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. ICON PLC had a return on equity of 28.42% and a net margin of 16.37%. The company had revenue of $440.30 million for the quarter, compared to analyst estimates of $438.09 million. During the same quarter in the prior year, the firm posted $1.19 EPS. ICON PLC’s quarterly revenue was up 4.8% compared to the same quarter last year.
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ICLR has been the topic of a number of other research reports. Zacks Investment Research lowered ICON PLC from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd. Jefferies Group LLC reissued a “buy” rating and set a $122.00 price objective on shares of ICON PLC in a research note on Tuesday, September 12th. ValuEngine lowered ICON PLC from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Barclays PLC boosted their price objective on ICON PLC from $108.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Mizuho boosted their price objective on ICON PLC from $104.00 to $108.00 and gave the stock a “neutral” rating in a research note on Thursday, July 27th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. ICON PLC has a consensus rating of “Buy” and an average target price of $120.60.
Shares of ICON PLC (ICLR) opened at 118.62 on Tuesday. ICON PLC has a 12-month low of $73.76 and a 12-month high of $123.53. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of 24.06 and a beta of 0.59. The company’s 50-day moving average price is $113.96 and its 200 day moving average price is $101.22.
Institutional investors have recently made changes to their positions in the company. Shine Investment Advisory Services Inc. acquired a new position in shares of ICON PLC in the 2nd quarter valued at $103,000. Acrospire Investment Management LLC lifted its stake in shares of ICON PLC by 20.1% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,195 shares of the medical research company’s stock valued at $117,000 after purchasing an additional 200 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of ICON PLC by 20.7% in the 2nd quarter. Parallel Advisors LLC now owns 1,265 shares of the medical research company’s stock valued at $133,000 after purchasing an additional 217 shares during the last quarter. Huntington National Bank lifted its stake in shares of ICON PLC by 5.0% in the 2nd quarter. Huntington National Bank now owns 1,630 shares of the medical research company’s stock valued at $159,000 after purchasing an additional 77 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in shares of ICON PLC in the 2nd quarter valued at $208,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.
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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