Icon (ICLR) Releases FY17 Earnings Guidance

Icon (NASDAQ:ICLR) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $5.30-5.40 for the period, compared to the Thomson Reuters consensus estimate of $5.37. The company issued revenue guidance of $1.74-1.75 billion, compared to the consensus revenue estimate of $1.76 billion.Icon also updated its FY18 guidance to $5.89-6.09 EPS.

Icon (ICLR) opened at $117.37 on Tuesday. Icon has a fifty-two week low of $76.46 and a fifty-two week high of $124.48. The firm has a market cap of $6,340.00, a PE ratio of 22.79, a PEG ratio of 1.63 and a beta of 0.61. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.31.

Icon (NASDAQ:ICLR) last announced its quarterly earnings data on Thursday, October 26th. The medical research company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.03. Icon had a net margin of 16.37% and a return on equity of 28.42%. The firm had revenue of $440.30 million for the quarter, compared to analyst estimates of $438.09 million. During the same quarter in the prior year, the business earned $1.19 earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. sell-side analysts forecast that Icon will post 5.37 EPS for the current fiscal year.

Several equities research analysts have recently commented on ICLR shares. Zacks Investment Research raised shares of Icon from a hold rating to a buy rating and set a $132.00 target price for the company in a research report on Tuesday. SunTrust Banks reissued a buy rating and set a $138.00 target price on shares of Icon in a research report on Sunday, October 29th. Credit Suisse Group reissued an outperform rating and set a $120.00 target price (up from $105.00) on shares of Icon in a research report on Monday, October 16th. Robert W. Baird reissued a buy rating and set a $123.00 target price on shares of Icon in a research report on Thursday, October 12th. Finally, KeyCorp reissued an overweight rating and set a $125.00 target price (up from $115.00) on shares of Icon in a research report on Monday, November 13th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $121.36.

A hedge fund recently raised its stake in Icon stock. Vanguard Group Inc. boosted its position in Icon Plc (NASDAQ:ICLR) by 19.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 14,545 shares of the medical research company’s stock after purchasing an additional 2,400 shares during the period. Vanguard Group Inc.’s holdings in Icon were worth $1,422,000 as of its most recent SEC filing. 89.66% of the stock is currently owned by institutional investors and hedge funds.

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About Icon

ICON public limited company is a contract research organization (CRO), which is engaged in providing outsourced development services to the pharmaceutical, biotechnology and medical device industries. The Company is engaged in the strategic development, management and analysis of programs that support the various stages of the clinical development process, from compound selection to Phase I-IV clinical studies.

Earnings History and Estimates for Icon (NASDAQ:ICLR)

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