$0.62 EPS Expected for INC Research Holdings, Inc. (INCR) This Quarter
Wall Street brokerages forecast that INC Research Holdings, Inc. (NASDAQ:INCR) will post earnings of $0.62 per share for the current fiscal quarter, Zacks reports. Five analysts have made estimates for INC Research Holdings’ earnings, with the lowest EPS estimate coming in at $0.57 and the highest estimate coming in at $0.71. INC Research Holdings reported earnings of $0.64 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 3.1%. The firm is expected to report its next earnings results on Monday, October 30th.
On average, analysts expect that INC Research Holdings will report full-year earnings of $2.61 per share for the current year, with EPS estimates ranging from $2.54 to $2.68. For the next year, analysts anticipate that the company will post earnings of $3.06 per share, with EPS estimates ranging from $2.87 to $3.16. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover INC Research Holdings.
INC Research Holdings (NASDAQ:INCR) last announced its earnings results on Thursday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.64. The business had revenue of $258.10 million for the quarter, compared to analysts’ expectations of $256.76 million. INC Research Holdings had a return on equity of 40.69% and a net margin of 5.69%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the firm posted $0.61 earnings per share.
A number of brokerages have weighed in on INCR. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $65.00 price objective on shares of INC Research Holdings in a report on Monday, August 7th. William Blair lowered INC Research Holdings from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 20th. SunTrust Banks, Inc. raised INC Research Holdings from a “hold” rating to a “buy” rating and lifted their price objective for the company from $48.00 to $67.00 in a report on Wednesday, May 31st. Jefferies Group LLC lowered INC Research Holdings from a “buy” rating to a “hold” rating and lifted their price objective for the company from $62.00 to $64.00 in a report on Thursday, June 29th. Finally, KeyCorp raised INC Research Holdings from a “sector weight” rating to an “overweight” rating and set a $68.00 price objective on the stock in a report on Monday, June 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. INC Research Holdings has an average rating of “Hold” and an average price target of $63.79.
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In other news, CAO Christopher L. Gaenzle sold 6,873 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $58.32, for a total transaction of $400,833.36. Following the sale, the chief accounting officer now owns 47,450 shares of the company’s stock, valued at approximately $2,767,284. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alistair Macdonald sold 8,828 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $55.65, for a total value of $491,278.20. Following the sale, the chief executive officer now directly owns 110,629 shares in the company, valued at approximately $6,156,503.85. The disclosure for this sale can be found here. Insiders sold a total of 26,256 shares of company stock worth $1,508,312 in the last ninety days. 0.24% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the company. TradeLink Capital LLC purchased a new stake in shares of INC Research Holdings during the first quarter valued at approximately $789,000. Bank of Montreal Can raised its stake in shares of INC Research Holdings by 1.3% in the second quarter. Bank of Montreal Can now owns 95,837 shares of the company’s stock valued at $5,606,000 after buying an additional 1,198 shares during the period. Redmile Group LLC purchased a new stake in shares of INC Research Holdings during the first quarter valued at approximately $29,059,000. Alambic Investment Management L.P. raised its stake in shares of INC Research Holdings by 301.9% in the first quarter. Alambic Investment Management L.P. now owns 42,600 shares of the company’s stock valued at $1,953,000 after buying an additional 32,000 shares during the period. Finally, Foresters Investment Management Company Inc. purchased a new stake in shares of INC Research Holdings during the first quarter valued at approximately $128,000. 99.84% of the stock is currently owned by institutional investors and hedge funds.
Shares of INC Research Holdings (NASDAQ:INCR) traded up 0.09% on Thursday, reaching $56.20. The company’s stock had a trading volume of 523,255 shares. The firm has a 50 day moving average price of $56.26 and a 200-day moving average price of $52.19. INC Research Holdings has a 12-month low of $40.65 and a 12-month high of $61.10. The stock has a market cap of $3.04 billion, a PE ratio of 34.44 and a beta of 1.42.
About INC Research Holdings
INC Research Holdings, Inc is a global contract research organization (CRO). The Company focuses on Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. The Company operates through two segments: Clinical Development Services and Phase I Services.
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