Wall Street brokerages expect INC Research Holdings, Inc. (NASDAQ:INCR) to report sales of $605.14 million for the current quarter, according to Zacks. Six analysts have issued estimates for INC Research Holdings’ earnings, with the highest sales estimate coming in at $609.20 million and the lowest estimate coming in at $599.47 million. INC Research Holdings reported sales of $259.56 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 133.1%. The business is scheduled to report its next quarterly earnings results before the market opens on Monday, October 30th.
On average, analysts expect that INC Research Holdings will report full year sales of $605.14 million for the current financial year, with estimates ranging from $1.91 billion to $1.94 billion. For the next fiscal year, analysts forecast that the company will post sales of $3.40 billion per share, with estimates ranging from $3.34 billion to $3.46 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover INC Research Holdings.
INC Research Holdings (NASDAQ:INCR) last announced its quarterly 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 analyst estimates of $256.76 million. INC Research Holdings had a return on equity of 40.69% and a net margin of 5.69%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 earnings per share.
A number of research analysts recently issued reports on INCR shares. Zacks Investment Research downgraded INC Research Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Credit Suisse Group started coverage on INC Research Holdings in a report on Wednesday, October 11th. They set an “outperform” rating and a $68.00 target price on the stock. Jefferies Group LLC upgraded INC Research Holdings from a “hold” rating to a “buy” rating and upped their target price for the stock from $62.50 to $69.00 in a report on Monday, October 9th. BidaskClub downgraded INC Research Holdings from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, Mizuho started coverage on INC Research Holdings in a report on Thursday, September 21st. They set a “neutral” rating and a $57.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. INC Research Holdings currently has a consensus rating of “Buy” and an average price target of $64.22.
In other news, CFO Gregory S. Rush sold 88,739 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $58.99, for a total value of $5,234,713.61. Following the sale, the chief financial officer now directly owns 149,301 shares of the company’s stock, valued at approximately $8,807,265.99. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Christopher L. Gaenzle sold 42,601 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $58.67, for a total value of $2,499,400.67. Following the completion of the sale, the chief accounting officer now directly owns 69,557 shares in the company, valued at $4,080,909.19. The disclosure for this sale can be found here. Insiders have sold a total of 198,321 shares of company stock worth $11,550,792 in the last quarter. Company insiders own 0.24% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of INC Research Holdings by 14.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,765 shares of the company’s stock worth $103,000 after purchasing an additional 228 shares in the last quarter. Pacad Investment Ltd. bought a new stake in shares of INC Research Holdings in the 2nd quarter worth approximately $123,000. Riverhead Capital Management LLC bought a new stake in shares of INC Research Holdings in the 2nd quarter worth approximately $128,000. Victory Capital Management Inc. boosted its position in shares of INC Research Holdings by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,377 shares of the company’s stock worth $139,000 after purchasing an additional 356 shares in the last quarter. Finally, Invictus RG bought a new stake in shares of INC Research Holdings in the 1st quarter worth approximately $115,000. 54.57% of the stock is currently owned by hedge funds and other institutional investors.
INC Research Holdings (NASDAQ:INCR) opened at 55.85 on Friday. INC Research Holdings has a one year low of $40.65 and a one year high of $61.10. The firm has a 50-day moving average price of $54.32 and a 200 day moving average price of $54.00. The company has a market cap of $3.03 billion, a price-to-earnings ratio of 34.22 and a beta of 1.34.
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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