Q3 2019 EPS Estimates for Icon Plc Decreased by Analyst (NASDAQ:ICLR)

Icon Plc (NASDAQ:ICLR) – Equities research analysts at SunTrust Banks dropped their Q3 2019 earnings per share (EPS) estimates for shares of Icon in a research report issued on Monday, July 29th. SunTrust Banks analyst S. Draper now expects that the medical research company will earn $1.71 per share for the quarter, down from their prior estimate of $1.75. SunTrust Banks also issued estimates for Icon’s FY2020 earnings at $7.82 EPS.

Icon (NASDAQ:ICLR) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $1.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.01. Icon had a net margin of 13.05% and a return on equity of 25.75%. The business had revenue of $695.14 million for the quarter, compared to analysts’ expectations of $693.56 million. During the same period in the prior year, the firm earned $1.51 earnings per share. Icon’s revenue was up 8.3% compared to the same quarter last year.

A number of other brokerages have also recently weighed in on ICLR. Barclays reissued a “hold” rating and set a $154.00 price target on shares of Icon in a research report on Wednesday, April 17th. ValuEngine raised shares of Icon from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Mizuho lifted their price target on shares of Icon from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. UBS Group raised shares of Icon from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $135.00 to $171.00 in a research report on Friday, July 26th. Finally, Zacks Investment Research raised shares of Icon from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Icon has an average rating of “Buy” and an average price target of $164.75.

Shares of ICLR stock opened at $154.81 on Wednesday. Icon has a 52-week low of $118.10 and a 52-week high of $165.13. The company has a market capitalization of $8.36 billion, a PE ratio of 24.61, a PEG ratio of 2.17 and a beta of 0.56. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The firm has a 50 day simple moving average of $151.90.

Several hedge funds and other institutional investors have recently made changes to their positions in ICLR. Coastal Capital Group Inc. acquired a new stake in shares of Icon during the second quarter worth $78,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Icon during the second quarter worth $172,000. DekaBank Deutsche Girozentrale raised its holdings in shares of Icon by 72.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,328 shares of the medical research company’s stock worth $201,000 after acquiring an additional 559 shares during the period. First Allied Advisory Services Inc. acquired a new stake in shares of Icon during the first quarter worth $207,000. Finally, Alta Capital Management LLC acquired a new stake in shares of Icon during the second quarter worth $238,000. 85.82% of the stock is currently owned by institutional investors.

About Icon

ICON Public Limited Company, a clinical research organization, provides outsourced development services to the pharmaceutical, biotechnology, and medical device industries in Ireland, rest of Europe, the United States, and internationally. It 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.

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Earnings History and Estimates for Icon (NASDAQ:ICLR)

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