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

ICON Public (NASDAQ:ICLR) issued its quarterly earnings data on Wednesday. The medical research company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.72 by ($0.37), Briefing.com reports. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.13 billion. ICON Public had a net margin of 8.57% and a return on equity of 12.06%. During the same quarter last year, the business posted $3.10 earnings per share. ICON Public’s revenue was down 1.2% on a year-over-year basis. 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 Trading Down 0.6 %

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Truist Financial dropped their target price on shares of ICON Public from $383.00 to $363.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. The Goldman Sachs Group dropped their price target on ICON Public from $370.00 to $280.00 and set a “buy” rating on the stock in a report on Friday. StockNews.com downgraded shares of ICON Public from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Barclays dropped their target price on shares of ICON Public from $330.00 to $275.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Leerink Partners decreased their price target on shares of ICON Public from $376.00 to $270.00 and set an “outperform” rating for the company in a research note on Friday. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.