ICON Public (NASDAQ:ICLR) Announces Earnings Results, Beats Expectations By $0.01 EPS

ICON Public (NASDAQ:ICLR) released its earnings results on Wednesday. The medical research company reported $3.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.41 by $0.01, Zacks reports. ICON Public had a net margin of 9.00% and a return on equity of 11.91%.

ICON Public Stock Up 1.4 %

Shares of NASDAQ ICLR traded up $2.67 during trading on Wednesday, reaching $191.32. 1,456,555 shares of the stock were exchanged, compared to its average volume of 951,841. The business’s 50-day moving average price is $203.63 and its 200 day moving average price is $246.83. ICON Public has a twelve month low of $181.51 and a twelve month high of $347.72. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $15.78 billion, a price-to-earnings ratio of 21.33, a price-to-earnings-growth ratio of 1.70 and a beta of 1.19.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ICLR shares. Robert W. Baird lowered their target price on shares of ICON Public from $249.00 to $225.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Royal Bank of Canada restated an “outperform” rating and issued a $263.00 target price on shares of ICON Public in a report on Wednesday, January 15th. Baird R W downgraded shares of ICON Public from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. The Goldman Sachs Group lowered their target price on shares of ICON Public from $370.00 to $280.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. lowered their target price on shares of ICON Public from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $283.92.

About ICON Public

ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, rest of Europe, the United States, and internationally. The company 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.