$0.59 EPS Expected for INC Research Holdings, Inc. (INCR) This Quarter
Wall Street brokerages predict that INC Research Holdings, Inc. (NASDAQ:INCR) will report $0.59 earnings per share for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for INC Research’s earnings. The highest EPS estimate is $0.74 and the lowest is $0.55. INC Research reported earnings per share of $0.67 during the same quarter last year, which suggests a negative year-over-year growth rate of 11.9%. The business is expected to issue its next quarterly earnings results on Tuesday, February 27th.
On average, analysts expect that INC Research will report full year earnings of $2.39 per share for the current fiscal year, with EPS estimates ranging from $2.14 to $2.60. For the next year, analysts anticipate that the company will report earnings of $2.56 per share, with EPS estimates ranging from $2.37 to $3.10. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that follow INC Research.
INC Research (NASDAQ:INCR) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.09). INC Research had a positive return on equity of 14.42% and a negative net margin of 4.29%. The firm had revenue of $592.21 million for the quarter, compared to the consensus estimate of $604.95 million. During the same period in the previous year, the company posted $0.64 EPS. INC Research’s quarterly revenue was up 128.2% compared to the same quarter last year.
INCR has been the subject of several research analyst reports. Mizuho initiated coverage on INC Research in a research note on Thursday, September 21st. They issued a “neutral” rating and a $57.00 price objective for the company. Zacks Investment Research upgraded INC Research from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Wednesday, September 27th. Robert W. Baird restated a “buy” rating and issued a $67.00 price objective on shares of INC Research in a research note on Monday, October 9th. Jefferies Group upgraded INC Research from a “hold” rating to a “buy” rating and raised their price objective for the stock from $62.50 to $69.00 in a research note on Monday, October 9th. Finally, Credit Suisse Group assumed coverage on INC Research in a research note on Wednesday, October 11th. They issued an “outperform” rating and a $68.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $51.40.
Shares of INC Research (NASDAQ INCR) traded down $0.30 during mid-day trading on Friday, reaching $41.05. The company had a trading volume of 1,657,600 shares, compared to its average volume of 957,178. INC Research has a 12 month low of $33.60 and a 12 month high of $61.10. The company has a market capitalization of $4,314.67, a P/E ratio of 18.97, a P/E/G ratio of 1.30 and a beta of 1.08. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.27 and a current ratio of 1.27.
In other INC Research news, CEO Alistair Macdonald sold 2,348 shares of INC Research stock in a transaction on Monday, September 18th. The stock was sold at an average price of $54.60, for a total value of $128,200.80. Following the sale, the chief executive officer now owns 99,453 shares in the company, valued at $5,430,133.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gregory S. Rush sold 9,703 shares of INC Research stock in a transaction on Monday, September 18th. The shares were sold at an average price of $54.48, for a total value of $528,619.44. Following the completion of the sale, the chief financial officer now owns 78,593 shares in the company, valued at approximately $4,281,746.64. The disclosure for this sale can be found here. Insiders have sold 16,733 shares of company stock worth $912,270 in the last three months. 0.24% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio raised its holdings in shares of INC Research by 3,536.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 9,747 shares of the company’s stock valued at $510,000 after buying an additional 9,479 shares during the period. Sterling Capital Management LLC raised its holdings in shares of INC Research by 17.3% in the 3rd quarter. Sterling Capital Management LLC now owns 13,212 shares of the company’s stock valued at $691,000 after buying an additional 1,949 shares during the period. California Public Employees Retirement System raised its holdings in shares of INC Research by 1.2% in the 3rd quarter. California Public Employees Retirement System now owns 136,000 shares of the company’s stock valued at $7,113,000 after buying an additional 1,600 shares during the period. Cubist Systematic Strategies LLC increased its holdings in INC Research by 74.3% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 25,035 shares of the company’s stock worth $1,309,000 after purchasing an additional 10,673 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in INC Research by 1,337.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 598,039 shares of the company’s stock worth $31,277,000 after purchasing an additional 556,439 shares during the period. Institutional investors own 99.56% of the company’s stock.
About INC Research
INC Research Holdings, Inc is a global contract research organization (CRO). The Company focuses on Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. The Company operates through two segments: Clinical Development Services and Phase I Services.
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