Icon Plc (ICLR) Forecasted to Earn FY2018 Earnings of $5.99 Per Share

Icon Plc (NASDAQ:ICLR) – Equities research analysts at William Blair lowered their FY2018 earnings per share (EPS) estimates for Icon in a research note issued to investors on Tuesday. William Blair analyst J. Kreger now expects that the medical research company will post earnings of $5.99 per share for the year, down from their previous forecast of $6.04. William Blair also issued estimates for Icon’s Q4 2018 earnings at $1.61 EPS, FY2019 earnings at $6.74 EPS and FY2020 earnings at $7.55 EPS.

Icon (NASDAQ:ICLR) last posted its quarterly earnings data on Thursday, October 26th. The medical research company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.03. Icon had a return on equity of 28.42% and a net margin of 16.37%. The firm had revenue of $440.30 million during the quarter, compared to analysts’ expectations of $438.09 million. During the same period in the prior year, the business earned $1.19 EPS. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year.

A number of other equities analysts have also recently issued reports on the company. KeyCorp reiterated a “buy” rating and issued a $130.00 price objective on shares of Icon in a report on Thursday. Zacks Investment Research cut Icon from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine upgraded Icon from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. SunTrust Banks restated a “buy” rating and set a $138.00 target price on shares of Icon in a report on Sunday, October 29th. Finally, Barclays increased their target price on Icon from $108.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, October 27th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $121.82.

Icon (NASDAQ ICLR) traded down $3.10 on Thursday, hitting $114.71. The stock had a trading volume of 247,100 shares, compared to its average volume of 292,737. Icon has a 1 year low of $76.46 and a 1 year high of $124.48. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market cap of $6,150.00, a PE ratio of 22.27, a P/E/G ratio of 1.63 and a beta of 0.61.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GRATRY & Co LLC lifted its holdings in Icon by 5.1% in the 3rd quarter. GRATRY & Co LLC now owns 30,144 shares of the medical research company’s stock worth $3,433,000 after buying an additional 1,474 shares during the period. GSA Capital Partners LLP lifted its holdings in Icon by 116.3% in the 2nd quarter. GSA Capital Partners LLP now owns 9,337 shares of the medical research company’s stock worth $913,000 after buying an additional 5,020 shares during the period. BT Investment Management Ltd purchased a new stake in Icon in the 3rd quarter worth approximately $325,000. Insight Capital Research & Management Inc. purchased a new stake in Icon in the 3rd quarter worth approximately $1,359,000. Finally, NorthCoast Asset Management LLC lifted its holdings in Icon by 23.4% in the 3rd quarter. NorthCoast Asset Management LLC now owns 18,016 shares of the medical research company’s stock worth $2,052,000 after buying an additional 3,419 shares during the period. Institutional investors and hedge funds own 89.66% of the company’s stock.

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Icon Company Profile

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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