Intercontinental Exchange (ICE) Expected to Post Earnings of $0.88 Per Share

Wall Street analysts expect Intercontinental Exchange (NYSE:ICE) to report $0.88 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have issued estimates for Intercontinental Exchange’s earnings. The lowest EPS estimate is $0.87 and the highest is $0.91. Intercontinental Exchange reported earnings of $0.74 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 18.9%. The business is expected to report its next quarterly earnings results before the market opens on Thursday, May 3rd.

According to Zacks, analysts expect that Intercontinental Exchange will report full-year earnings of $3.57 per share for the current financial year, with EPS estimates ranging from $3.50 to $3.66. For the next fiscal year, analysts expect that the firm will report earnings of $3.96 per share, with EPS estimates ranging from $3.88 to $4.11. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Intercontinental Exchange.

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Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate 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 firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 earnings per share.

ICE has been the subject of several recent research reports. Zacks Investment Research raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research note on Wednesday. Argus reissued a “buy” rating and issued a $67.00 price target (down from $80.00) on shares of Intercontinental Exchange in a research note on Friday, February 9th. Bank of America lowered their price target on shares of Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Berenberg Bank initiated coverage on shares of Intercontinental Exchange in a research note on Thursday, January 25th. They issued a “buy” rating and a $90.00 price target for the company. Finally, Deutsche Bank boosted their price target on shares of Intercontinental Exchange from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, April 6th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $78.36.

In other news, CEO Jeffrey C. Sprecher sold 132,245 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $73.34, for a total transaction of $9,698,848.30. Following the completion of the transaction, the chief executive officer now directly owns 1,454,661 shares of the company’s stock, valued at $106,684,837.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Scott A. Hill sold 7,526 shares of the company’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $75.00, for a total transaction of $564,450.00. Following the transaction, the chief financial officer now directly owns 202,371 shares of the company’s stock, valued at $15,177,825. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 237,074 shares of company stock valued at $17,377,209. Insiders own 1.50% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Pinnacle Wealth Planning Services Inc. bought a new position in Intercontinental Exchange in the fourth quarter worth about $109,000. Valeo Financial Advisors LLC raised its stake in Intercontinental Exchange by 257.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock worth $115,000 after buying an additional 1,172 shares in the last quarter. SeaCrest Wealth Management LLC bought a new position in Intercontinental Exchange in the fourth quarter worth about $122,000. Cerebellum GP LLC bought a new position in Intercontinental Exchange in the fourth quarter worth about $127,000. Finally, Americafirst Capital Management LLC bought a new position in Intercontinental Exchange in the third quarter worth about $145,000. 90.74% of the stock is owned by institutional investors.

Intercontinental Exchange stock opened at $72.47 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $41,278.84, a price-to-earnings ratio of 24.11, a price-to-earnings-growth ratio of 2.48 and a beta of 0.64. Intercontinental Exchange has a twelve month low of $57.91 and a twelve month high of $76.30.

The company also recently disclosed 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. This represents a $0.96 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Wednesday, September 12th. Intercontinental Exchange’s dividend payout ratio (DPR) 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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