ICON Public (NASDAQ:ICLR) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

ICON Public (NASDAQ:ICLR) posted its earnings results on Wednesday. The medical research company reported $3.42 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.01, Zacks reports. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.04 billion. ICON Public had a net margin of 9.00% and a return on equity of 11.91%.

ICON Public Trading Up 6.8 %

ICON Public stock opened at $201.54 on Thursday. The firm has a 50 day moving average of $203.22 and a 200 day moving average of $246.44. The firm has a market capitalization of $16.63 billion, a price-to-earnings ratio of 21.89, a P/E/G ratio of 1.73 and a beta of 1.19. ICON Public has a 12-month low of $181.51 and a 12-month high of $347.72. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.35.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ICLR. TD Cowen reduced their price objective on shares of ICON Public from $369.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Baird R W cut shares of ICON Public from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Robert W. Baird reduced their price objective on shares of ICON Public from $249.00 to $225.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Barclays reduced their price objective on shares of ICON Public from $330.00 to $275.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, Truist Financial reduced their price objective on shares of ICON Public from $284.00 to $262.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $283.92.

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.