ICON Public (NASDAQ:ICLR) Updates FY 2024 Earnings Guidance

ICON Public (NASDAQ:ICLR) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 14.500-15.300 for the period, compared to the consensus earnings per share estimate of 14.940. The company issued revenue guidance of $8.4 billion-$8.8 billion, compared to the consensus revenue estimate of $8.6 billion.

ICON Public Trading Down 0.7 %

ICLR stock opened at $292.02 on Thursday. The company has a market capitalization of $24.09 billion, a PE ratio of 39.57, a P/E/G ratio of 1.39 and a beta of 1.15. ICON Public has a 12 month low of $181.92 and a 12 month high of $344.77. The firm’s 50-day moving average is $316.39 and its 200 day moving average is $280.17. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 1.21.

ICON Public (NASDAQ:ICLR) last posted its quarterly earnings results on Wednesday, February 21st. The medical research company reported $3.40 EPS for the quarter, topping the consensus estimate of $3.27 by $0.13. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.08 billion. ICON Public had a net margin of 7.54% and a return on equity of 11.42%. On average, research analysts anticipate that ICON Public will post 14.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ICLR shares. Truist Financial raised their target price on shares of ICON Public from $357.00 to $367.00 and gave the company a buy rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. lifted their target price on shares of ICON Public from $295.00 to $330.00 and gave the stock an overweight rating in a research note on Wednesday, December 20th. Barclays lifted their price objective on shares of ICON Public from $325.00 to $355.00 and gave the company an overweight rating in a research note on Friday, February 23rd. Mizuho reiterated a buy rating and issued a $346.00 target price on shares of ICON Public in a research note on Thursday, April 4th. Finally, Robert W. Baird boosted their target price on shares of ICON Public from $345.00 to $362.00 and gave the company an outperform rating in a research note on Thursday, April 4th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $319.45.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. LM Advisors LLC acquired a new position in ICON Public in the fourth quarter valued at about $26,000. First Horizon Advisors Inc. lifted its position in ICON Public by 10.9% in the first quarter. First Horizon Advisors Inc. now owns 551 shares of the medical research company’s stock valued at $118,000 after buying an additional 54 shares during the last quarter. Alpha Paradigm Partners LLC acquired a new position in ICON Public in the third quarter valued at about $123,000. Crossmark Global Holdings Inc. acquired a new position in ICON Public in the fourth quarter valued at about $201,000. Finally, KB Financial Partners LLC lifted its position in ICON Public by 23.4% in the first quarter. KB Financial Partners LLC now owns 1,742 shares of the medical research company’s stock valued at $424,000 after buying an additional 330 shares during the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

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.