Icon Plc (ICLR) Expected to Announce Quarterly Sales of $671.61 Million

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Equities research analysts expect Icon Plc (NASDAQ:ICLR) to report $671.61 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Icon’s earnings, with the highest sales estimate coming in at $690.47 million and the lowest estimate coming in at $657.72 million. Icon reported sales of $620.13 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.3%. The business is scheduled to issue its next quarterly earnings results on Wednesday, May 1st.

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

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

ICLR has been the topic of several research reports. BidaskClub cut shares of Icon from a “hold” rating to a “sell” rating in a research report on Friday. SunTrust Banks reiterated a “buy” rating and set a $161.00 target price on shares of Icon in a research note on Monday, February 25th. Barclays lifted their target price on Icon from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 21st. Mizuho upgraded Icon from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $146.00 to $150.00 in a research note on Friday, January 25th. Finally, Zacks Investment Research downgraded Icon from a “hold” rating to a “sell” rating in a research note on Tuesday, January 22nd. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. Icon presently has an average rating of “Hold” and an average target price of $152.60.

Several institutional investors have recently bought and sold shares of the company. WCM Investment Management LLC raised its holdings in shares of Icon by 5.4% during the 4th quarter. WCM Investment Management LLC now owns 5,272,086 shares of the medical research company’s stock worth $681,207,000 after buying an additional 271,375 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Icon by 9.8% during the 3rd quarter. Clearbridge Investments LLC now owns 2,211,986 shares of the medical research company’s stock worth $340,093,000 after buying an additional 198,271 shares in the last quarter. Pendal Group Ltd raised its holdings in shares of Icon by 48,582.8% during the 4th quarter. Pendal Group Ltd now owns 1,405,471 shares of the medical research company’s stock worth $181,601,000 after buying an additional 1,402,584 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Icon by 5.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,129,043 shares of the medical research company’s stock worth $145,883,000 after buying an additional 58,724 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Icon by 5.0% during the 3rd quarter. Janus Henderson Group PLC now owns 788,206 shares of the medical research company’s stock worth $121,140,000 after buying an additional 37,851 shares in the last quarter. 86.41% of the stock is owned by institutional investors.

ICLR stock traded up $1.46 during trading on Tuesday, hitting $133.69. The company had a trading volume of 63,066 shares, compared to its average volume of 313,399. The company has a market capitalization of $7.11 billion, a P/E ratio of 21.25, a PEG ratio of 1.65 and a beta of 0.66. Icon has a fifty-two week low of $110.21 and a fifty-two week high of $155.33. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.26.

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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