Stock analysts predict Intercontinental Exchange, Inc. (NYSE:ICE) will report sales of $1.82 billion for the current quarter, according to Zacks. Four analysts provided Intercontinental Exchange earnings estimates. The highest sales estimate is $1.82 billion and the lowest is $1.81 billion. Intercontinental Exchange recorded sales of $1.67 billion in the same quarter last year, suggesting a positive year-over-year growth rate of 9%. The company is expected to release its next results before the market opens on Thursday, February 3.
According to Zacks, analysts expect Intercontinental Exchange to report annual sales of $7.13 billion for the current year, with estimates ranging from $7.12 billion to $7.13 billion. . For the next fiscal year, analysts expect the company to post sales of $7.44 billion, with estimates ranging from $7.34 billion to $7.57 billion. Zacks Investment Research sell-side averages are an average average based on a survey of sell-side research firms that cover Intercontinental Exchange.
Intercontinental Exchange (NYSE:ICE) last announced its quarterly results on Thursday, October 28. The financial services provider reported earnings per share of $1.30 for the quarter, beating Thomson Reuters consensus estimate of $1.23 by $0.07. The company posted revenue of $1.80 billion in the quarter, compared to $1.76 billion expected by analysts. Intercontinental Exchange posted a net margin of 33.69% and a return on equity of 13.57%. The company’s revenue for the quarter increased 27.6% compared to the same quarter last year. In the same quarter a year earlier, the company posted EPS of $1.03.
Several equity research analysts have weighed in on ICE shares. Morgan Stanley raised its price target on Intercontinental Exchange shares from $131.00 to $143.00 and gave the company an “equal weight” rating in a Tuesday, Nov. 2 research report. Bank of America began covering Intercontinental Exchange stocks in a research report on Thursday, December 16. They issued a “neutral” rating and a target price of $158.00 for the company. UBS Group raised its price target on Intercontinental Exchange shares from $143.00 to $148.00 and gave the stock a “buy” rating in a Wednesday, October 6 research report. Jefferies Financial Group began covering Intercontinental Exchange stocks in a research report on Monday, October 25. They issued a “buy” rating and a target price of $161.00 for the company. Finally, Rosenblatt Securities raised its price target on Intercontinental Exchange shares from $138.00 to $157.00 and gave the stock a “buy” rating in a Friday, October 29 research report. Four research analysts gave the stock a hold rating, five gave the company a buy rating and two gave the company a strong buy rating. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $152.44.
In other news, General Counsel Andrew J. Surdykowski sold 4,500 shares of Intercontinental Exchange in a trade that took place on Wednesday, November 10. The shares were sold at an average price of $135.08, for a total value of $607,860.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available via this link. Additionally, CEO Jeffrey C. Sprecher sold 60,000 shares of the company in a trade that took place on Thursday, December 9. The shares were sold at an average price of $134.75, for a total transaction of $8,085,000.00. The disclosure of this sale can be found here. Insiders sold 72,410 shares of the company valued at $9,761,507 during the last quarter. Insiders of the company own 1.30% of the shares of the company.
Hedge funds and other institutional investors have recently changed their positions in the stock. Park National Corp OH increased its position in the Intercontinental Exchange by 3.1% during the third quarter. Park National Corp OH now owns 185,875 shares of the financial services provider valued at $21,343,000 after purchasing an additional 5,564 shares during the period. Haverford Trust Co increased its position in the Intercontinental Exchange by 5.0% during the third quarter. Haverford Trust Co now owns 637,311 shares of the financial services provider valued at $73,176,000 after purchasing an additional 30,322 shares during the period. Palisade Capital Management LLC NJ increased its position in Intercontinental Exchange by 0.6% during the second quarter. Palisade Capital Management LLC NJ now owns 201,125 shares of the financial services provider valued at $23,874,000 after purchasing an additional 1,228 shares during the period. TPI Fund Managers Ltd increased its position in the Intercontinental Exchange by 0.6% during the third quarter. TPI Fund Managers Ltd now owns 206,049 shares of the financial services provider valued at $23,659,000 after purchasing an additional 1,250 shares during the period. Finally, Parametric Portfolio Associates LLC increased its position in the Intercontinental Exchange by 2.8% during the second quarter. Parametric Portfolio Associates LLC now owns 2,152,616 shares of the financial services provider valued at $255,516,000 after purchasing an additional 59,605 shares during the period. Institutional investors hold 86.63% of the company’s shares.
ICE shares opened at $125.81 on Thursday. The stock has a market capitalization of $70.88 billion, a P/E ratio of 23.26, a PEG ratio of 1.83 and a beta of 0.82. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt ratio of 0.57. The company has a fifty-day simple moving average of $133.22 and a two-hundred-day simple moving average of $126.18. Intercontinental Exchange has a 12-month low of $108.95 and a 12-month high of $139.79.
The company also recently declared a quarterly dividend, which was paid on Friday, December 31. Shareholders of record on Friday, December 17 received a dividend of $0.33. The ex-dividend date was Thursday, December 16. This represents a dividend of $1.32 on an annualized basis and a dividend yield of 1.05%. Intercontinental Exchange’s dividend payout ratio is currently 24.40%.
Intercontinental Exchange Company Profile
Intercontinental Exchange, Inc. engages in online market management. It operates through the following segments: Stock Exchanges; Fixed income and data services; and mortgage technology. The company was founded by Jeffrey C. Sprecher in May 2000 and is based in Atlanta, GA.
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