ICON Public (NASDAQ:ICLR) Updates FY24 Earnings Guidance

ICON Public (NASDAQ:ICLR) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $13.90-14.10 for the period, compared to the consensus EPS estimate of $13.98. The company issued revenue guidance of $8.26-8.30 billion, compared to the consensus revenue estimate of $8.28 billion. ICON Public also updated its FY 2024 guidance to 13.900-14.100 EPS.

Wall Street Analyst Weigh In

ICLR has been the topic of several analyst reports. Royal Bank of Canada initiated coverage on shares of ICON Public in a report on Tuesday, January 7th. They issued an “outperform” rating and a $263.00 target price on the stock. TD Cowen dropped their target price on shares of ICON Public from $369.00 to $285.00 and set a “buy” rating for the company in a report on Friday, October 25th. Leerink Partnrs upgraded ICON Public to a “strong-buy” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. decreased their target price on shares of ICON Public from $375.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, William Blair reaffirmed an “outperform” rating on shares of ICON Public in a research note on Tuesday. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $287.00.

ICON Public Stock Performance

ICON Public stock opened at $200.24 on Wednesday. ICON Public has a 52 week low of $183.38 and a 52 week 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. The stock has a market cap of $16.52 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 1.54 and a beta of 1.20. The stock has a 50 day moving average of $211.31 and a 200-day moving average of $270.81.

ICON Public (NASDAQ:ICLR) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.72 by ($0.37). The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.13 billion. ICON Public had a return on equity of 11.91% and a net margin of 9.00%. ICON Public’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $3.10 earnings per share. On average, analysts expect that ICON Public will post 13.42 EPS for the current fiscal year.

ICON Public Company Profile

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.