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INC Research Upgraded to Strong Buy on Estimate Revision
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On Aug 27, Zacks Investment Research raised INC Research Holdings Inc. (INCR - Free Report) to a Zacks Rank #1 (Strong Buy) on upward estimate revisions.
Why the Upgrade?
The upgrade was primarily driven by upward estimate revisions over the last 30 days.
The Zacks Consensus Estimate for full-year 2016 is currently pegged at $2.32 per share, which moved up six cents over the same time frame, as all the seven analysts revised their estimates upward.
Meanwhile, the Zacks Consensus Estimate for full-year 2017 has been revised upward by 4.7% (12 cents) to the present $2.70 per share, as all the five analysts raised their projections.
Key Growth Factors
The estimate revisions were primarily driven by INC Research’s strong second-quarter 2016 results. The company’s adjusted earnings of 57 cents per share outpaced the Zacks Consensus Estimate by four cents (7.6%).
Net service revenues increased 13.8% on a year-over-year basis to $258.8 million; driven by strong growth across central nervous system (CNS), oncology and other complex therapeutic areas.
INC Research noted backlog of $1.9 billion, up 13.9% from the year-ago quarter. Net new business awards were $302.1 million, representing a book-to-bill ratio of 1.2 times.
INC research also announced a share buyback program worth $150 million. Recently, the company bought back 1,500,000 shares related to a secondary offering (roughly 4,500,000 shares) by existing stockholders, namely affiliates of Avista Capital Partners, L.P. and affiliates of Ontario Teachers’ Pension Plan.
INC Research updated its full-year 2016 guidance. The company now forecasts net service revenues to be in the range of $1.03 million to $1.04 million, up from the previous guidance of $1.02 million to $1.03 million.
Adjusted earnings are estimated to be in the range of $2.39 to $2.50 per share, up from earlier guidance of $2.34 to $2.46.
Other Stocks to Consider
Other favorably ranked stocks include Advisory Board , Masimo (MASI - Free Report) and Natus Medical . All the three stocks sport a Zacks Rank #1.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>
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INC Research Upgraded to Strong Buy on Estimate Revision
On Aug 27, Zacks Investment Research raised INC Research Holdings Inc. (INCR - Free Report) to a Zacks Rank #1 (Strong Buy) on upward estimate revisions.
Why the Upgrade?
The upgrade was primarily driven by upward estimate revisions over the last 30 days.
The Zacks Consensus Estimate for full-year 2016 is currently pegged at $2.32 per share, which moved up six cents over the same time frame, as all the seven analysts revised their estimates upward.
Meanwhile, the Zacks Consensus Estimate for full-year 2017 has been revised upward by 4.7% (12 cents) to the present $2.70 per share, as all the five analysts raised their projections.
Key Growth Factors
The estimate revisions were primarily driven by INC Research’s strong second-quarter 2016 results. The company’s adjusted earnings of 57 cents per share outpaced the Zacks Consensus Estimate by four cents (7.6%).
INC RESRCH HLDG Price and Consensus
INC RESRCH HLDG Price and Consensus | INC RESRCH HLDG Quote
Net service revenues increased 13.8% on a year-over-year basis to $258.8 million; driven by strong growth across central nervous system (CNS), oncology and other complex therapeutic areas.
INC Research noted backlog of $1.9 billion, up 13.9% from the year-ago quarter. Net new business awards were $302.1 million, representing a book-to-bill ratio of 1.2 times.
INC research also announced a share buyback program worth $150 million. Recently, the company bought back 1,500,000 shares related to a secondary offering (roughly 4,500,000 shares) by existing stockholders, namely affiliates of Avista Capital Partners, L.P. and affiliates of Ontario Teachers’ Pension Plan.
INC Research updated its full-year 2016 guidance. The company now forecasts net service revenues to be in the range of $1.03 million to $1.04 million, up from the previous guidance of $1.02 million to $1.03 million.
Adjusted earnings are estimated to be in the range of $2.39 to $2.50 per share, up from earlier guidance of $2.34 to $2.46.
Other Stocks to Consider
Other favorably ranked stocks include Advisory Board , Masimo (MASI - Free Report) and Natus Medical . All the three stocks sport a Zacks Rank #1.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>