ICON Public (NASDAQ:ICLR) Releases FY24 Earnings Guidance

ICON Public (NASDAQ:ICLR) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $14.65-$15.15 for the period, compared to the consensus estimate of $14.94. The company issued revenue guidance of $8.48-$8.72 billion, compared to the consensus revenue estimate of $8.64 billion.

ICON Public Stock Performance

Shares of ICLR traded up $2.99 during mid-day trading on Wednesday, hitting $309.44. 956,119 shares of the company’s stock were exchanged, compared to its average volume of 556,690. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. ICON Public has a 52 week low of $181.92 and a 52 week high of $344.77. The stock’s 50-day simple moving average is $317.97 and its 200-day simple moving average is $282.01. The firm has a market cap of $25.53 billion, a price-to-earnings ratio of 41.93, a price-to-earnings-growth ratio of 1.41 and a beta of 1.15.

ICON Public (NASDAQ:ICLR) last issued its quarterly earnings results on Wednesday, February 21st. The medical research company reported $3.40 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.13. ICON Public had a return on equity of 11.42% and a net margin of 7.54%. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.08 billion. On average, equities research analysts expect that ICON Public will post 14.4 EPS for the current year.

Analysts Set New Price Targets

ICLR has been the subject of several research analyst reports. Robert W. Baird upped their price target on shares of ICON Public from $345.00 to $362.00 and gave the stock an outperform rating in a report on Thursday, April 4th. Mizuho reissued a buy rating and set a $346.00 price target on shares of ICON Public in a research note on Thursday, April 4th. Evercore ISI boosted their price target on ICON Public from $325.00 to $350.00 and gave the stock an outperform rating in a report on Friday, February 23rd. Truist Financial raised their price objective on shares of ICON Public from $357.00 to $367.00 and gave the company a buy rating in a report on Friday, February 23rd. Finally, Barclays upped their price target on shares of ICON Public from $325.00 to $355.00 and gave the company an overweight rating in a research report on Friday, February 23rd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $319.45.

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.