Icon Plc (ICLR) Expected to Post Quarterly Sales of $676.54 Million

Wall Street brokerages expect Icon Plc (NASDAQ:ICLR) to post $676.54 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Icon’s earnings, with the highest sales estimate coming in at $693.25 million and the lowest estimate coming in at $669.50 million. Icon reported sales of $455.14 million in the same quarter last year, which indicates a positive year-over-year growth rate of 48.6%. The firm is expected to issue its next quarterly earnings report on Thursday, February 21st.

On average, analysts expect that Icon will report full-year sales of $2.59 billion for the current fiscal year, with estimates ranging from $2.59 billion to $2.61 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $2.79 billion, with estimates ranging from $2.77 billion to $2.83 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Icon.

Icon (NASDAQ:ICLR) last issued its quarterly earnings results on Wednesday, October 24th. The medical research company reported $1.54 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.54. Icon had a return on equity of 26.08% and a net margin of 12.88%. The firm had revenue of $655.02 million during the quarter, compared to analyst estimates of $654.66 million.

A number of equities research analysts have recently weighed in on the company. BidaskClub lowered Icon from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Robert W. Baird reissued a “buy” rating and issued a $154.00 target price on shares of Icon in a research note on Thursday, July 26th. Zacks Investment Research lowered Icon from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. SunTrust Banks boosted their target price on Icon to $153.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. Finally, KeyCorp boosted their target price on Icon from $152.00 to $157.00 and gave the company an “overweight” rating in a research note on Tuesday, September 11th. Two analysts have rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $148.00.

Shares of NASDAQ ICLR traded up $1.07 during midday trading on Friday, reaching $129.34. The company had a trading volume of 203,238 shares, compared to its average volume of 268,761. Icon has a one year low of $101.22 and a one year high of $155.33. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.26. The firm has a market cap of $6.94 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 1.84 and a beta of 0.50.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ICLR. WCM Investment Management CA lifted its stake in shares of Icon by 7.9% in the 3rd quarter. WCM Investment Management CA now owns 5,000,711 shares of the medical research company’s stock valued at $768,860,000 after acquiring an additional 367,131 shares during the last quarter. Partner Fund Management L.P. raised its position in Icon by 61.1% during the 2nd quarter. Partner Fund Management L.P. now owns 432,312 shares of the medical research company’s stock valued at $57,294,000 after purchasing an additional 163,959 shares during the last quarter. Principal Financial Group Inc. raised its position in Icon by 20.6% during the 1st quarter. Principal Financial Group Inc. now owns 946,806 shares of the medical research company’s stock valued at $111,856,000 after purchasing an additional 161,558 shares during the last quarter. Advisors Asset Management Inc. raised its position in Icon by 3,097.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 153,202 shares of the medical research company’s stock valued at $650,000 after purchasing an additional 148,411 shares during the last quarter. Finally, Redwood Investments LLC bought a new position in Icon during the 2nd quarter valued at approximately $16,964,000. 85.09% of the stock is owned by institutional investors.

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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