Icon Plc to Post FY2017 Earnings of $5.25 Per Share, SunTrust Banks Forecasts (ICLR)

Icon Plc (NASDAQ:ICLR) – Investment analysts at SunTrust Banks lowered their FY2017 earnings estimates for Icon in a research note issued on Monday. SunTrust Banks analyst S. Draper now forecasts that the medical research company will post earnings per share of $5.25 for the year, down from their prior estimate of $5.37. SunTrust Banks has a “Buy” rating and a $133.00 price objective on the stock. SunTrust Banks also issued estimates for Icon’s Q4 2017 earnings at $1.42 EPS, FY2018 earnings at $6.08 EPS and FY2019 earnings at $6.96 EPS.

Icon (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, topping the consensus estimate of $1.32 by $0.03. Icon had a return on equity of 28.42% and a net margin of 16.37%. The company had revenue of $440.30 million during the quarter, compared to analyst estimates of $438.09 million. During the same quarter last year, the firm posted $1.19 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis.

Other equities research analysts have also issued research reports about the company. KeyCorp reissued a “buy” rating and issued a $130.00 price objective on shares of Icon in a report on Thursday, January 11th. Zacks Investment Research downgraded Icon from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. ValuEngine downgraded Icon from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Jefferies Group raised their target price on Icon from $122.00 to $132.00 and gave the stock a “buy” rating in a research note on Monday, October 9th. Finally, Robert W. Baird restated a “buy” rating and issued a $123.00 target price on shares of Icon in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Icon has a consensus rating of “Buy” and an average price target of $124.45.

Shares of Icon (NASDAQ ICLR) opened at $112.68 on Tuesday. Icon has a twelve month low of $76.46 and a twelve month high of $124.48. The firm has a market capitalization of $6,171.70, a PE ratio of 21.84, a P/E/G ratio of 1.62 and a beta of 0.56. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.31.

Hedge funds and other institutional investors have recently modified their holdings of the business. GRATRY & Co LLC boosted its stake in Icon by 5.1% in the 3rd quarter. GRATRY & Co LLC now owns 30,144 shares of the medical research company’s stock worth $3,433,000 after purchasing an additional 1,474 shares during the period. GSA Capital Partners LLP boosted its position in shares of Icon by 116.3% during the 2nd quarter. GSA Capital Partners LLP now owns 9,337 shares of the medical research company’s stock valued at $913,000 after acquiring an additional 5,020 shares during the last quarter. BT Investment Management Ltd bought a new stake in shares of Icon during the 3rd quarter valued at about $325,000. Insight Capital Research & Management Inc. bought a new stake in shares of Icon during the 3rd quarter valued at about $1,359,000. Finally, NorthCoast Asset Management LLC boosted its position in shares of Icon by 23.4% during the 3rd quarter. NorthCoast Asset Management LLC now owns 18,016 shares of the medical research company’s stock valued at $2,052,000 after acquiring an additional 3,419 shares during the last quarter. Institutional investors and hedge funds own 89.65% of the company’s stock.

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About Icon

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.

Earnings History and Estimates for Icon (NASDAQ:ICLR)

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