Wall Street brokerages expect Icon Plc (NASDAQ:ICLR) to announce sales of $622.99 million for the current quarter, according to Zacks. Six analysts have provided estimates for Icon’s earnings, with the highest sales estimate coming in at $638.40 million and the lowest estimate coming in at $607.77 million. Icon reported sales of $431.95 million during the same quarter last year, which would suggest a positive year over year growth rate of 44.2%. The business is scheduled to report its next earnings results on Thursday, April 26th.
On average, analysts expect that Icon will report full year sales of $622.99 million for the current fiscal year, with estimates ranging from $2.57 billion to $2.61 billion. For the next financial year, analysts expect that the firm will report sales of $2.76 billion per share, with estimates ranging from $2.74 billion to $2.81 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Icon.
Icon (NASDAQ:ICLR) last posted its earnings results on Thursday, February 15th. The medical research company reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.02. Icon had a return on equity of 27.55% and a net margin of 16.01%. The company had revenue of $455.10 million during the quarter, compared to the consensus estimate of $455.66 million. During the same quarter last year, the firm earned $1.33 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis.
A number of research analysts recently commented on the company. BidaskClub upgraded Icon from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. KeyCorp reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Icon in a report on Thursday, January 11th. Zacks Investment Research raised Icon from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a report on Wednesday, December 27th. ValuEngine raised Icon from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $133.00 price objective on shares of Icon in a report on Monday, January 22nd. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $126.00.
Large investors have recently added to or reduced their stakes in the business. SPF Beheer BV bought a new position in Icon during the 4th quarter worth approximately $92,565,000. Renaissance Technologies LLC lifted its position in shares of Icon by 37.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,817,307 shares of the medical research company’s stock valued at $203,811,000 after acquiring an additional 495,247 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Icon by 71.5% in the third quarter. Principal Financial Group Inc. now owns 768,471 shares of the medical research company’s stock valued at $87,513,000 after acquiring an additional 320,356 shares in the last quarter. WCM Investment Management CA lifted its position in shares of Icon by 5.8% in the fourth quarter. WCM Investment Management CA now owns 4,281,211 shares of the medical research company’s stock valued at $480,138,000 after acquiring an additional 233,990 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Icon by 530.2% in the third quarter. Ameriprise Financial Inc. now owns 248,202 shares of the medical research company’s stock valued at $28,265,000 after acquiring an additional 208,816 shares in the last quarter. 90.50% of the stock is owned by institutional investors and hedge funds.
Shares of Icon (NASDAQ ICLR) traded down $0.02 during midday trading on Tuesday, hitting $121.47. The company had a trading volume of 111,670 shares, compared to its average volume of 328,239. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.29. Icon has a 52 week low of $76.46 and a 52 week high of $124.65. The company has a market capitalization of $6,582.74, a PE ratio of 23.68, a P/E/G ratio of 1.73 and a beta of 0.45.
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.
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