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

ICON Public (NASDAQ:ICLR - Get Free Report) posted its earnings results on Wednesday. The medical research company reported $3.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.72 by ($0.37), Briefing.com reports. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.13 billion. ICON Public had a net margin of 8.57% and a return on equity of 12.06%. ICON Public's quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.10 EPS. 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 Stock Performance

ICLR traded down $59.03 on Thursday, hitting $221.73. The company's stock had a trading volume of 6,190,963 shares, compared to its average volume of 611,493. The company's 50 day simple moving average is $301.78 and its 200-day simple moving average is $311.59. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.36. ICON Public has a 12 month low of $220.51 and a 12 month high of $347.72. The firm has a market cap of $18.29 billion, a P/E ratio of 28.72, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ICLR shares. StockNews.com downgraded ICON Public from a "buy" rating to a "hold" rating in a report on Thursday, September 19th. Leerink Partners started coverage on ICON Public in a report on Wednesday, September 18th. They set an "outperform" rating and a $379.00 price target on the stock. Redburn Atlantic began coverage on ICON Public in a research report on Monday, October 14th. They issued a "neutral" rating and a $311.00 price target for the company. Leerink Partnrs raised ICON Public to a "strong-buy" rating in a research report on Wednesday, September 18th. Finally, Evercore ISI lowered their price target on ICON Public from $360.00 to $350.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, ICON Public currently has a consensus rating of "Moderate Buy" and an average target price of $346.09.

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.