Jefferies Group Brokers Reduce Earnings Estimates for Intercontinental Exchange Inc. (ICE)

Intercontinental Exchange Inc. (NYSE:ICE) – Equities research analysts at Jefferies Group lowered their Q4 2017 EPS estimates for Intercontinental Exchange in a report issued on Monday. Jefferies Group analyst D. Fannon now forecasts that the financial services provider will post earnings of $0.74 per share for the quarter, down from their previous forecast of $0.75. Jefferies Group has a “Buy” rating and a $73.00 price objective on the stock. Jefferies Group also issued estimates for Intercontinental Exchange’s Q1 2018 earnings at $0.81 EPS, Q2 2018 earnings at $0.84 EPS, Q3 2018 earnings at $0.80 EPS, Q4 2018 earnings at $0.85 EPS and FY2019 earnings at $3.57 EPS.

Several other brokerages also recently issued reports on ICE. Zacks Investment Research raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Wells Fargo & Company raised their price objective on shares of Intercontinental Exchange from $65.00 to $73.00 and gave the stock a “market perform” rating in a research note on Thursday, October 5th. Barclays PLC raised their price objective on shares of Intercontinental Exchange from $72.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 10th. Royal Bank Of Canada raised their price objective on shares of Intercontinental Exchange from $70.00 to $76.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $73.00 price objective on shares of Intercontinental Exchange in a research note on Sunday, October 8th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $71.44.

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Shares of Intercontinental Exchange (NYSE ICE) traded down 1.45% on Tuesday, reaching $67.21. The company had a trading volume of 1,176,483 shares. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of 24.90 and a beta of 0.74. The stock’s 50 day moving average is $67.43 and its 200 day moving average is $64.16. Intercontinental Exchange has a 52 week low of $52.27 and a 52 week high of $71.24.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the business earned $0.69 EPS. Intercontinental Exchange’s revenue was up 4.3% compared to the same quarter last year.

Institutional investors have recently bought and sold shares of the company. Alerus Financial NA bought a new stake in shares of Intercontinental Exchange during the second quarter valued at approximately $4,256,000. NBT Bank N A NY bought a new stake in shares of Intercontinental Exchange during the second quarter valued at approximately $245,000. Quest Investment Management LLC bought a new stake in shares of Intercontinental Exchange during the first quarter valued at approximately $2,837,000. BB&T Securities LLC raised its stake in shares of Intercontinental Exchange by 140.0% during the second quarter. BB&T Securities LLC now owns 18,404 shares of the financial services provider’s stock valued at $1,213,000 after acquiring an additional 10,735 shares in the last quarter. Finally, State of Tennessee Treasury Department raised its stake in shares of Intercontinental Exchange by 32.8% during the second quarter. State of Tennessee Treasury Department now owns 216,187 shares of the financial services provider’s stock valued at $14,251,000 after acquiring an additional 53,449 shares in the last quarter. 89.62% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Charles A. Vice sold 12,500 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $66.93, for a total transaction of $836,625.00. Following the completion of the sale, the insider now owns 382,471 shares of the company’s stock, valued at $25,598,784.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott A. Hill sold 37,630 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $70.03, for a total transaction of $2,635,228.90. The disclosure for this sale can be found here. Insiders have sold 155,550 shares of company stock valued at $10,394,455 in the last ninety days. Insiders own 1.50% of the company’s stock.

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.

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

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