Intercontinental Exchange (NYSE:ICE) Issues Quarterly Earnings Results

by · The Markets Daily

Intercontinental Exchange (NYSE:ICE – Get Free Report) released its quarterly earnings data on Thursday. The financial services provider reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates of $1.55, Briefing.com reports. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.46 EPS.

Intercontinental Exchange Stock Down 0.8 %

Shares of NYSE:ICE traded down $1.23 during trading on Friday, hitting $154.64. 3,715,485 shares of the company were exchanged, compared to its average volume of 2,546,484. The firm has a fifty day moving average price of $162.09 and a two-hundred day moving average price of $148.03. Intercontinental Exchange has a fifty-two week low of $104.91 and a fifty-two week high of $167.99. The stock has a market cap of $88.79 billion, a price-to-earnings ratio of 38.51, a P/E/G ratio of 2.51 and a beta of 1.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Monday, December 16th. Intercontinental Exchange’s dividend payout ratio is presently 44.55%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ICE. Bank of America increased their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. The Goldman Sachs Group increased their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Citigroup upped their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Morgan Stanley upped their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $173.93.

Get Our Latest Report on ICE

Insiders Place Their Bets

In related news, CAO James W. Namkung sold 1,171 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the completion of the sale, the chief accounting officer now directly owns 16,665 shares in the company, valued at approximately $2,666,400. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO James W. Namkung sold 1,171 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total transaction of $187,360.00. Following the sale, the chief accounting officer now directly owns 16,665 shares in the company, valued at $2,666,400. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $98,011.62. Following the sale, the insider now directly owns 14,034 shares in the company, valued at $2,284,875.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock valued at $1,202,259 over the last 90 days. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Company Profile

(Get Free Report)

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.

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