Intercontinental Exchange, Inc. (NYSE:ICE) Receives Average Recommendation of “Buy” from Analysts

Intercontinental Exchange, Inc. (NYSE:ICE) has been given an average rating of “Buy” by the twelve analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $129.00.

Several brokerages have recently weighed in on ICE. Morgan Stanley upped their price objective on Intercontinental Exchange from $122.00 to $124.00 and gave the company an “equal weight” rating in a report on Monday, August 2nd. Raymond James upped their target price on Intercontinental Exchange from $136.00 to $140.00 and gave the company a “strong-buy” rating in a report on Friday, July 30th. Zacks Investment Research downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating and set a $126.00 target price for the company. in a report on Friday, September 17th. Finally, The Goldman Sachs Group raised Intercontinental Exchange from a “buy” rating to a “conviction-buy” rating in a report on Wednesday, June 23rd.

In other Intercontinental Exchange news, COO Mark Wassersug sold 2,000 shares of the company’s stock in a transaction dated Friday, September 10th. The stock was sold at an average price of $120.00, for a total value of $240,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO James W. Namkung sold 1,887 shares of the company’s stock in a transaction dated Wednesday, July 21st. The stock was sold at an average price of $120.00, for a total value of $226,440.00. The disclosure for this sale can be found here. Insiders have sold 7,645 shares of company stock worth $913,410 over the last three months. 1.30% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Intercontinental Exchange by 4.3% during the 2nd quarter. BlackRock Inc. now owns 41,385,359 shares of the financial services provider’s stock valued at $4,912,443,000 after acquiring an additional 1,710,310 shares during the last quarter. State Street Corp increased its holdings in shares of Intercontinental Exchange by 0.6% during the 2nd quarter. State Street Corp now owns 24,867,297 shares of the financial services provider’s stock valued at $2,951,748,000 after acquiring an additional 146,602 shares during the last quarter. Magellan Asset Management Ltd increased its holdings in shares of Intercontinental Exchange by 20.2% during the 1st quarter. Magellan Asset Management Ltd now owns 21,882,418 shares of the financial services provider’s stock valued at $2,443,828,000 after acquiring an additional 3,680,812 shares during the last quarter. Morgan Stanley increased its holdings in shares of Intercontinental Exchange by 0.8% during the 1st quarter. Morgan Stanley now owns 13,731,771 shares of the financial services provider’s stock valued at $1,533,563,000 after acquiring an additional 112,383 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Intercontinental Exchange by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 9,058,166 shares of the financial services provider’s stock valued at $1,072,100,000 after acquiring an additional 286,196 shares during the last quarter. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Shares of Intercontinental Exchange stock opened at $118.91 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.67. The firm has a market cap of $66.96 billion, a price-to-earnings ratio of 23.78 and a beta of 0.73. The business has a fifty day simple moving average of $118.92 and a 200-day simple moving average of $116.43. Intercontinental Exchange has a fifty-two week low of $92.41 and a fifty-two week high of $122.42.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 29th. The financial services provider reported $1.16 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.16. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. Intercontinental Exchange had a return on equity of 13.16% and a net margin of 32.25%. Analysts anticipate that Intercontinental Exchange will post 4.88 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Thursday, September 16th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.11%. The ex-dividend date is Wednesday, September 15th. Intercontinental Exchange’s payout ratio is 29.27%.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc engages in the management of online marketplace. It operates through the following segments: Exchanges; Fixed Income and Data Services; and Mortgage Technology. The company was founded by Jeffrey C. Sprecher in May 2000 and is headquartered in Atlanta, GA.

Recommended Story: How To Calculate Debt-to-Equity Ratio

Analyst Recommendations for Intercontinental Exchange (NYSE:ICE)

Receive News & Ratings for Intercontinental Exchange Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange and related companies with MarketBeat.com's FREE daily email newsletter.