Wall Street analysts expect Intercontinental Exchange Inc (NYSE:ICE) to announce sales of $1.21 billion for the current quarter, according to Zacks. Three analysts have made estimates for Intercontinental Exchange’s earnings. The highest sales estimate is $1.22 billion and the lowest is $1.20 billion. Intercontinental Exchange reported sales of $1.16 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.3%. The business is expected to announce its next quarterly earnings report on Wednesday, May 2nd.
On average, analysts expect that Intercontinental Exchange will report full-year sales of $1.21 billion for the current fiscal year, with estimates ranging from $4.85 billion to $4.87 billion. For the next fiscal year, analysts forecast that the company will report sales of $5.12 billion per share, with estimates ranging from $5.10 billion to $5.16 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Intercontinental Exchange.
Intercontinental Exchange (NYSE:ICE) last released its earnings results on Wednesday, February 7th. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.15 billion. Intercontinental Exchange had a net margin of 43.09% and a return on equity of 10.83%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.71 EPS.
A number of research firms have weighed in on ICE. Berenberg Bank began coverage on shares of Intercontinental Exchange in a research report on Thursday, January 25th. They set a “buy” rating and a $90.00 target price for the company. JPMorgan Chase & Co. upgraded Intercontinental Exchange from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $76.00 to $83.00 in a report on Tuesday. Argus increased their price target on Intercontinental Exchange from $72.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, December 20th. Zacks Investment Research upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a report on Wednesday, January 3rd. Finally, Bank of America cut their price target on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $76.62.
In related news, CFO Scott A. Hill sold 7,526 shares of the stock in a transaction on Friday, January 12th. The stock was sold at an average price of $75.00, for a total value of $564,450.00. Following the transaction, the chief financial officer now directly owns 202,371 shares in the company, valued at approximately $15,177,825. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 132,245 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $73.34, for a total value of $9,698,848.30. Following the completion of the transaction, the chief executive officer now owns 1,454,661 shares in the company, valued at $106,684,837.74. The disclosure for this sale can be found here. Insiders have sold a total of 183,655 shares of company stock worth $13,460,395 over the last 90 days. Company insiders own 1.50% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Nova Scotia lifted its holdings in shares of Intercontinental Exchange by 2.4% in the 2nd quarter. Bank of Nova Scotia now owns 30,186 shares of the financial services provider’s stock worth $1,990,000 after purchasing an additional 710 shares in the last quarter. HighPoint Advisor Group LLC lifted its holdings in shares of Intercontinental Exchange by 24.6% in the 4th quarter. HighPoint Advisor Group LLC now owns 3,884 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 767 shares in the last quarter. MAI Capital Management lifted its holdings in shares of Intercontinental Exchange by 1.8% in the 4th quarter. MAI Capital Management now owns 44,903 shares of the financial services provider’s stock worth $3,168,000 after purchasing an additional 783 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Intercontinental Exchange by 10.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 8,944 shares of the financial services provider’s stock worth $631,000 after purchasing an additional 813 shares in the last quarter. Finally, Iowa State Bank lifted its holdings in shares of Intercontinental Exchange by 6.0% in the 4th quarter. Iowa State Bank now owns 14,700 shares of the financial services provider’s stock worth $1,037,000 after purchasing an additional 828 shares in the last quarter. Institutional investors own 90.42% of the company’s stock.
Intercontinental Exchange (NYSE ICE) traded up $0.92 during trading hours on Friday, reaching $72.48. 1,900,000 shares of the company’s stock were exchanged, compared to its average volume of 2,980,000. The firm has a market cap of $42,400.00, a P/E ratio of 24.65, a PEG ratio of 2.57 and a beta of 0.63. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange has a twelve month low of $56.97 and a twelve month high of $76.14.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Thursday, September 13th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Wednesday, September 12th. Intercontinental Exchange’s payout ratio is 27.21%.
Intercontinental Exchange declared that its board has initiated a share repurchase program on Thursday, November 2nd that allows the company to buyback $1.20 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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Intercontinental Exchange Company Profile
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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