Icon (NASDAQ:ICLR) Updates FY20 Earnings Guidance

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Icon (NASDAQ:ICLR) issued an update on its FY20 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $7.55-7.85 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $7.71. The company issued revenue guidance of $2.97-3.09 billion, compared to the consensus revenue estimate of $3.03 billion.Icon also updated its FY 2019
Pre-Market guidance to 6.81-6.95 EPS.

Shares of Icon stock traded up $2.11 on Thursday, reaching $173.71. 4,943 shares of the company were exchanged, compared to its average volume of 213,955. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.03 and a current ratio of 2.03. The company’s 50-day moving average is $166.68 and its two-hundred day moving average is $155.44. The firm has a market cap of $9.15 billion, a price-to-earnings ratio of 27.63, a P/E/G ratio of 2.05 and a beta of 0.70. Icon has a 1-year low of $127.58 and a 1-year high of $173.00.

Icon (NASDAQ:ICLR) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $1.74 EPS for the quarter, meeting the consensus estimate of $1.74. Icon had a return on equity of 24.86% and a net margin of 13.16%. The firm had revenue of $710.40 million for the quarter, compared to analysts’ expectations of $709.75 million. During the same period last year, the firm earned $1.54 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Icon will post 6.89 earnings per share for the current year.

ICLR has been the topic of several analyst reports. Credit Suisse Group restated a buy rating and issued a $160.00 target price on shares of Icon in a research report on Monday, October 28th. Zacks Investment Research upgraded Icon from a hold rating to a buy rating and set a $191.00 target price on the stock in a research report on Wednesday, December 25th. Wells Fargo & Co initiated coverage on Icon in a research report on Tuesday, January 7th. They issued an equal weight rating and a $180.00 target price on the stock. Citigroup initiated coverage on Icon in a research report on Monday, January 6th. They issued a neutral rating and a $185.00 target price on the stock. Finally, UBS Group set a $160.00 target price on Icon and gave the company a hold rating in a research report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $169.56.

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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