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Strength Seen in Icon PLC (ICLR): Can Its 5.3% Jump Turn into More Strength?
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Icon PLC (ICLR - Free Report) shares ended the last trading session 5.3% higher at $183.06. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 15% loss over the past four weeks.
Icon scored a strong price rise on investors’ optimism surrounding the company’s third-quarter 2022 earnings release which is scheduled on Nov 2, 2022. The Zacks Consensus Estimate for the third quarter revenue is pegged at $1.94 billion indicating a 4% growth year over year. The same for its Q3 earnings is pegged at $2.96 per share, implying a 16.1% surge from the year-ago period.
This contract research organization is expected to post quarterly earnings of $2.96 per share in its upcoming report, which represents a year-over-year change of +16.1%. Revenues are expected to be $1.94 billion, up 4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Icon PLC, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ICLR going forward to see if this recent jump can turn into more strength down the road.
Icon PLC is part of the Zacks Medical Services industry. Pediatrix Medical Group (MD - Free Report) , another stock in the same industry, closed the last trading session 3.6% higher at $17.62. MD has returned -3.2% in the past month.
Pediatrix Medical Group's consensus EPS estimate for the upcoming report has changed +0.6% over the past month to $0.53. Compared to the company's year-ago EPS, this represents a change of +15.2%. Pediatrix Medical Group currently boasts a Zacks Rank of #3 (Hold).
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Strength Seen in Icon PLC (ICLR): Can Its 5.3% Jump Turn into More Strength?
Icon PLC (ICLR - Free Report) shares ended the last trading session 5.3% higher at $183.06. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 15% loss over the past four weeks.
Icon scored a strong price rise on investors’ optimism surrounding the company’s third-quarter 2022 earnings release which is scheduled on Nov 2, 2022. The Zacks Consensus Estimate for the third quarter revenue is pegged at $1.94 billion indicating a 4% growth year over year. The same for its Q3 earnings is pegged at $2.96 per share, implying a 16.1% surge from the year-ago period.
This contract research organization is expected to post quarterly earnings of $2.96 per share in its upcoming report, which represents a year-over-year change of +16.1%. Revenues are expected to be $1.94 billion, up 4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Icon PLC, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ICLR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Icon PLC is part of the Zacks Medical Services industry. Pediatrix Medical Group (MD - Free Report) , another stock in the same industry, closed the last trading session 3.6% higher at $17.62. MD has returned -3.2% in the past month.
Pediatrix Medical Group's consensus EPS estimate for the upcoming report has changed +0.6% over the past month to $0.53. Compared to the company's year-ago EPS, this represents a change of +15.2%. Pediatrix Medical Group currently boasts a Zacks Rank of #3 (Hold).