ICON Public (NASDAQ:ICLR) Announces Quarterly Earnings Results, Misses Estimates By $0.37 EPS

ICON Public (NASDAQ:ICLR) announced its quarterly earnings results on Wednesday. The medical research company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.72 by ($0.37), Briefing.com reports. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.13 billion. ICON Public had a return on equity of 12.06% and a net margin of 8.57%. ICON Public’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the firm earned $3.10 earnings per share. ICON Public updated its FY24 guidance to $13.90-14.10 EPS and its FY 2024 guidance to 13.900-14.100 EPS.

ICON Public Stock Performance

Shares of NASDAQ ICLR opened at $220.47 on Friday. The firm’s 50-day moving average price is $297.75 and its 200-day moving average price is $310.26. ICON Public has a 52-week low of $220.01 and a 52-week high of $347.72. The company has a market cap of $18.19 billion, a PE ratio of 25.70, a PEG ratio of 1.35 and a beta of 1.22. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.36.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Truist Financial decreased their price objective on shares of ICON Public from $383.00 to $363.00 and set a “buy” rating for the company in a report on Monday, October 14th. Leerink Partnrs upgraded ICON Public to a “strong-buy” rating in a report on Wednesday, September 18th. StockNews.com lowered ICON Public from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Baird R W downgraded ICON Public from a “strong-buy” rating to a “hold” rating in a report on Thursday. Finally, Robert W. Baird downgraded shares of ICON Public from an “outperform” rating to a “neutral” rating and set a $340.00 target price on the stock. in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ICON Public currently has an average rating of “Moderate Buy” and a consensus price target of $310.45.

About ICON Public

ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, rest of Europe, the United States, and internationally. The company 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.