Brokerages expect Icon Plc (NASDAQ:ICLR) to report $633.83 million in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Icon’s earnings, with estimates ranging from $632.48 million to $636.06 million. Icon posted sales of $431.02 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 47.1%. The business is expected to announce its next earnings results on Thursday, July 26th.
According to Zacks, analysts expect that Icon will report full year sales of $2.57 billion for the current fiscal year, with estimates ranging from $2.55 billion to $2.58 billion. For the next year, analysts forecast that the firm will report sales of $2.76 billion per share, with estimates ranging from $2.71 billion to $2.84 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Icon.
Icon (NASDAQ:ICLR) last posted its quarterly earnings results on Thursday, May 3rd. The medical research company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.01. Icon had a net margin of 14.80% and a return on equity of 26.56%. The company had revenue of $620.13 million for the quarter, compared to the consensus estimate of $562.61 million. During the same period last year, the company posted $1.29 EPS. The firm’s quarterly revenue was up 43.6% compared to the same quarter last year.
A number of equities research analysts have recently weighed in on ICLR shares. BidaskClub upgraded shares of Icon from a “hold” rating to a “buy” rating in a research note on Wednesday, March 28th. Zacks Investment Research downgraded shares of Icon from a “buy” rating to a “sell” rating in a research note on Thursday, April 19th. Jefferies Financial Group raised their price objective on shares of Icon to $150.00 and gave the company a “buy” rating in a report on Friday, June 1st. Finally, KeyCorp raised their price objective on shares of Icon from $130.00 to $152.00 and gave the company an “overweight” rating in a report on Monday, June 18th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $131.00.
A number of hedge funds and other institutional investors have recently modified their holdings of ICLR. Financial Gravity Companies Inc. bought a new position in Icon in the 4th quarter valued at approximately $144,000. Financial Gravity Wealth Inc. bought a new position in Icon in the 1st quarter valued at approximately $179,000. Gotham Asset Management LLC bought a new position in Icon during the 4th quarter worth approximately $209,000. Private Advisor Group LLC bought a new position in Icon during the 4th quarter worth approximately $216,000. Finally, We Are One Seven LLC bought a new position in Icon during the 4th quarter worth approximately $252,000. Institutional investors and hedge funds own 87.11% of the company’s stock.
Shares of ICLR traded down $0.52 during mid-day trading on Friday, reaching $132.71. The company had a trading volume of 563 shares, compared to its average volume of 205,012. Icon has a 1-year low of $95.56 and a 1-year high of $138.17. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29. The company has a market cap of $7.23 billion, a P/E ratio of 24.72, a PEG ratio of 2.10 and a beta of 0.44.
ICON Public Limited Company, a clinical research organization, provides outsourced development services to the pharmaceutical, biotechnology, and medical device industries in Ireland, rest of Europe, the United States, and internationally. It specializes in the strategic development, management, and analysis of programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies.
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