Equities research analysts expect Intercontinental Exchange (NYSE:ICE) to post $1.22 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Intercontinental Exchange’s earnings, with estimates ranging from $1.21 billion to $1.23 billion. Intercontinental Exchange posted sales of $1.16 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.2%. The firm is expected to announce its next quarterly earnings report before the market opens on Thursday, May 3rd.
According to Zacks, analysts expect that Intercontinental Exchange will report full-year sales of $4.89 billion for the current financial year, with estimates ranging from $4.86 billion to $4.92 billion. For the next financial year, analysts forecast that the firm will post sales of $5.16 billion per share, with estimates ranging from $5.14 billion to $5.20 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Intercontinental Exchange.
Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Wednesday, February 7th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Intercontinental Exchange had a return on equity of 10.83% and a net margin of 43.09%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The firm’s quarterly revenue was up .5% compared to the same quarter last year.
Several equities analysts have issued reports on ICE shares. Argus lifted their target price on Intercontinental Exchange from $72.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, December 20th. Zacks Investment Research upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Wednesday, January 3rd. Berenberg Bank started coverage on Intercontinental Exchange in a research note on Thursday, January 25th. They issued a “buy” rating and a $90.00 target price on the stock. Bank of America cut their target price on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Finally, JPMorgan Chase upgraded Intercontinental Exchange from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $76.00 to $83.00 in a research note on Tuesday, February 20th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Intercontinental Exchange currently has an average rating of “Buy” and a consensus price target of $78.36.
In other news, President Benjamin Jackson sold 2,500 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $72.75, for a total transaction of $181,875.00. Following the sale, the president now owns 64,154 shares in the company, valued at $4,667,203.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 132,245 shares of Intercontinental Exchange stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,454,661 shares of the company’s stock, valued at approximately $106,684,837.74. The disclosure for this sale can be found here. Insiders have sold 229,548 shares of company stock worth $16,812,759 in the last 90 days. Insiders own 1.50% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $109,000. Valeo Financial Advisors LLC lifted its holdings in shares of Intercontinental Exchange by 257.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 1,172 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $122,000. Cerebellum GP LLC acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $127,000. Finally, Americafirst Capital Management LLC acquired a new stake in shares of Intercontinental Exchange during the third quarter worth about $145,000. 90.74% of the stock is owned by hedge funds and other institutional investors.
ICE traded up $0.08 on Tuesday, hitting $72.54. The company had a trading volume of 2,095,329 shares, compared to its average volume of 2,655,203. Intercontinental Exchange has a 12-month low of $57.91 and a 12-month high of $76.30. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $42,193.04, a PE ratio of 24.59, a price-to-earnings-growth ratio of 2.54 and a beta of 0.64.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Thursday, September 13th will be paid a dividend of $0.24 per share. The ex-dividend date is Wednesday, September 12th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.32%. Intercontinental Exchange’s payout ratio is 32.54%.
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About Intercontinental Exchange
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.
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