Brokers Issue Forecasts for ICON PLC’s Q3 2017 Earnings (ICLR)

ICON PLC (NASDAQ:ICLR) – Research analysts at William Blair lifted their Q3 2017 earnings estimates for ICON PLC in a research report issued on Thursday. William Blair analyst J. Kreger now forecasts that the medical research company will post earnings of $1.27 per share for the quarter, up from their prior forecast of $1.26. William Blair also issued estimates for ICON PLC’s Q4 2017 earnings at $1.41 EPS, FY2017 earnings at $5.28 EPS, FY2018 earnings at $5.96 EPS, FY2019 earnings at $6.70 EPS and FY2020 earnings at $7.52 EPS.

Several other research firms have also recently weighed in on ICLR. Zacks Investment Research cut shares of ICON PLC from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. ValuEngine cut shares of ICON PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, May 31st. Jefferies Group LLC raised shares of ICON PLC from a “hold” rating to a “buy” rating and increased their price target for the company from $86.00 to $117.00 in a research note on Thursday, June 29th. BidaskClub raised shares of ICON PLC from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $102.00 price target (up previously from $91.00) on shares of ICON PLC in a research note on Tuesday, June 6th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. ICON PLC has a consensus rating of “Buy” and an average target price of $108.38.

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Shares of ICON PLC (NASDAQ:ICLR) opened at 104.95 on Monday. The company has a market cap of $5.67 billion, a P/E ratio of 21.29 and a beta of 0.59. ICON PLC has a 52 week low of $73.76 and a 52 week high of $109.32. The firm has a 50-day moving average of $98.17 and a 200 day moving average of $87.67.

ICON PLC (NASDAQ:ICLR) last announced its quarterly earnings data on Thursday, July 27th. The medical research company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.01. The business had revenue of $431 million during the quarter, compared to the consensus estimate of $430.68 million. ICON PLC had a net margin of 15.97% and a return on equity of 28.72%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.14 earnings per share.

Institutional investors have recently bought and sold shares of the company. Duff & Phelps Investment Management Co. boosted its position in ICON PLC by 16.9% in the first quarter. Duff & Phelps Investment Management Co. now owns 145,652 shares of the medical research company’s stock worth $11,611,000 after buying an additional 21,037 shares during the last quarter. Somerset Trust Co boosted its position in ICON PLC by 0.4% in the first quarter. Somerset Trust Co now owns 5,638 shares of the medical research company’s stock worth $449,000 after buying an additional 24 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its position in ICON PLC by 11.5% in the first quarter. Farmers & Merchants Investments Inc. now owns 51,236 shares of the medical research company’s stock worth $4,085,000 after buying an additional 5,269 shares during the last quarter. Legato Capital Management LLC boosted its position in ICON PLC by 7,872.0% in the first quarter. Legato Capital Management LLC now owns 6,078,411 shares of the medical research company’s stock worth $76,247,000 after buying an additional 6,002,164 shares during the last quarter. Finally, Cim LLC boosted its position in ICON PLC by 4.6% in the first quarter. Cim LLC now owns 6,095 shares of the medical research company’s stock worth $486,000 after buying an additional 270 shares during the last quarter. 92.39% of the stock is owned by hedge funds and other institutional investors.

ICON PLC Company Profile

ICON public limited company is a contract research organization (CRO), which is engaged in providing outsourced development services to the pharmaceutical, biotechnology and medical device industries. The Company is engaged in the strategic development, management and analysis of programs that support the various stages of the clinical development process, from compound selection to Phase I-IV clinical studies.

Earnings History and Estimates for ICON PLC (NASDAQ:ICLR)

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