Intercontinental Exchange, Inc. (NYSE:ICE) Expected to Post Earnings of $1.30 Per Share

Equities research analysts forecast that Intercontinental Exchange, Inc. (NYSE:ICE) will report earnings of $1.30 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Intercontinental Exchange’s earnings. The highest EPS estimate is $1.35 and the lowest is $1.24. Intercontinental Exchange posted earnings of $1.13 per share during the same quarter last year, which would suggest a positive year over year growth rate of 15%. The firm is expected to announce its next quarterly earnings report on Thursday, February 3rd.

According to Zacks, analysts expect that Intercontinental Exchange will report full-year earnings of $5.09 per share for the current year, with EPS estimates ranging from $4.98 to $5.15. For the next financial year, analysts anticipate that the company will post earnings of $5.54 per share, with EPS estimates ranging from $5.29 to $5.81. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Intercontinental Exchange.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 28th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.07. Intercontinental Exchange had a net margin of 33.69% and a return on equity of 13.57%. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. Intercontinental Exchange’s revenue was up 27.6% compared to the same quarter last year.

Several equities research analysts have issued reports on ICE shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Intercontinental Exchange from $140.00 to $152.00 and gave the stock a “buy” rating in a research note on Friday, October 29th. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $131.00 to $143.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 2nd. Jefferies Financial Group initiated coverage on shares of Intercontinental Exchange in a research note on Monday, October 25th. They set a “buy” rating and a $161.00 price objective for the company. Zacks Investment Research cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating and set a $126.00 target price on the stock. in a research report on Friday, September 17th. Finally, Citigroup boosted their target price on shares of Intercontinental Exchange from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, October 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $142.55.

In other news, COO Mark Wassersug sold 2,000 shares of the company’s stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $120.00, for a total transaction of $240,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey C. Sprecher sold 109,037 shares of the stock in a transaction dated Wednesday, September 22nd. The shares were sold at an average price of $117.03, for a total transaction of $12,760,600.11. The disclosure for this sale can be found here. Insiders have sold 129,375 shares of company stock worth $15,425,653 over the last three months. 1.30% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in Intercontinental Exchange by 0.3% in the 3rd quarter. BlackRock Inc. now owns 41,520,577 shares of the financial services provider’s stock valued at $4,767,395,000 after acquiring an additional 135,218 shares during the last quarter. State Street Corp lifted its stake in Intercontinental Exchange by 0.6% during the second quarter. State Street Corp now owns 24,867,297 shares of the financial services provider’s stock valued at $2,951,748,000 after buying an additional 146,602 shares in the last quarter. Morgan Stanley lifted its stake in Intercontinental Exchange by 16.5% during the third quarter. Morgan Stanley now owns 14,764,134 shares of the financial services provider’s stock valued at $1,695,218,000 after buying an additional 2,085,712 shares in the last quarter. Geode Capital Management LLC lifted its stake in Intercontinental Exchange by 1.7% during the third quarter. Geode Capital Management LLC now owns 9,213,568 shares of the financial services provider’s stock valued at $1,054,997,000 after buying an additional 155,402 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Intercontinental Exchange by 7.3% during the third quarter. Invesco Ltd. now owns 6,670,401 shares of the financial services provider’s stock valued at $765,894,000 after buying an additional 456,137 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Intercontinental Exchange stock traded up $0.22 during trading on Thursday, reaching $132.27. The company had a trading volume of 2,007,674 shares, compared to its average volume of 2,326,031. Intercontinental Exchange has a 12-month low of $102.50 and a 12-month high of $139.79. The stock’s 50 day moving average price is $128.40 and its two-hundred day moving average price is $120.78. The firm has a market capitalization of $74.52 billion, a price-to-earnings ratio of 24.45 and a beta of 0.80. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.01.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 31st. Shareholders of record on Friday, December 17th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, December 16th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.00%. Intercontinental Exchange’s dividend payout ratio (DPR) is 24.40%.

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.

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Earnings History and Estimates for Intercontinental Exchange (NYSE:ICE)

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