ICON Public (NASDAQ:ICLR) Releases FY24 Earnings Guidance

ICON Public (NASDAQ:ICLR - Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $13.90-14.10 for the period, compared to the consensus 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

A number of equities research analysts have recently issued reports on ICLR shares. The Goldman Sachs Group reduced their price target on shares of ICON Public from $370.00 to $280.00 and set a "buy" rating for the company in a research report on Friday, October 25th. William Blair reiterated an "outperform" rating on shares of ICON Public in a research report on Tuesday. Leerink Partnrs raised ICON Public to a "strong-buy" rating in a report on Wednesday, September 18th. Redburn Atlantic began coverage on ICON Public in a research note on Monday, October 14th. They set a "neutral" rating and a $311.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of ICON Public from $375.00 to $280.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $287.00.

ICON Public Trading Down 8.1 %

NASDAQ ICLR traded down $17.75 during mid-day trading on Tuesday, reaching $200.24. 1,830,683 shares of the stock were exchanged, compared to its average volume of 899,485. The business's fifty day simple moving average is $211.31 and its 200 day simple moving average is $270.81. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $16.52 billion, a PE ratio of 22.32, a PEG ratio of 1.54 and a beta of 1.20. ICON Public has a 1-year low of $183.38 and a 1-year high of $347.72.

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

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.