Analysts Anticipate Icon Plc (ICLR) Will Post Quarterly Sales of $671.61 Million

Brokerages expect Icon Plc (NASDAQ:ICLR) to announce sales of $671.61 million for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Icon’s earnings, with estimates ranging from $657.72 million to $690.47 million. Icon posted sales of $620.13 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.3%. The business is expected to announce its next earnings results after the market closes on Wednesday, May 1st.

On average, analysts expect that Icon will report full year sales of $2.79 billion for the current fiscal year, with estimates ranging from $2.77 billion to $2.83 billion. For the next year, analysts forecast that the company will report sales of $3.00 billion, with estimates ranging from $2.97 billion to $3.06 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Icon.

Icon (NASDAQ:ICLR) last announced its quarterly earnings data on Wednesday, February 20th. The medical research company reported $1.62 EPS for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.02. Icon had a return on equity of 26.01% and a net margin of 12.43%. The business had revenue of $679.03 million during the quarter, compared to the consensus estimate of $675.04 million. During the same period in the previous year, the company posted $1.43 earnings per share. The business’s revenue for the quarter was up 49.2% on a year-over-year basis.

A number of equities analysts have recently commented on the company. Zacks Investment Research raised Icon from a “hold” rating to a “buy” rating and set a $146.00 price objective for the company in a research report on Wednesday, April 24th. BidaskClub downgraded Icon from a “sell” rating to a “strong sell” rating in a research report on Tuesday, April 23rd. Barclays reissued a “hold” rating and set a $154.00 price objective on shares of Icon in a research report on Wednesday, April 17th. ValuEngine downgraded Icon from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. Finally, Wolfe Research began coverage on Icon in a research report on Tuesday, April 2nd. They set an “outperform” rating for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $152.30.

Shares of Icon stock opened at $137.39 on Friday. Icon has a one year low of $116.68 and a one year high of $155.33. The stock has a market cap of $7.42 billion, a PE ratio of 21.84, a P/E/G ratio of 1.72 and a beta of 0.65. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.18 and a quick ratio of 2.18.

A number of hedge funds have recently bought and sold shares of ICLR. Pendal Group Ltd lifted its stake in Icon by 48,582.8% during the fourth quarter. Pendal Group Ltd now owns 1,405,471 shares of the medical research company’s stock worth $181,601,000 after purchasing an additional 1,402,584 shares during the last quarter. Norges Bank purchased a new stake in Icon during the fourth quarter worth approximately $84,127,000. WCM Investment Management LLC lifted its stake in Icon by 5.4% during the fourth quarter. WCM Investment Management LLC now owns 5,272,086 shares of the medical research company’s stock worth $681,207,000 after purchasing an additional 271,375 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Icon by 9.8% during the third quarter. Clearbridge Investments LLC now owns 2,211,986 shares of the medical research company’s stock worth $340,093,000 after purchasing an additional 198,271 shares during the last quarter. Finally, State of Tennessee Treasury Department purchased a new stake in Icon during the fourth quarter worth approximately $23,301,000. Hedge funds and other institutional investors own 87.86% of the company’s stock.

Icon Company Profile

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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