Equities analysts expect that Intercontinental Exchange Inc (NYSE:ICE) will announce $0.88 earnings per share for the current quarter, according to Zacks. Three analysts have issued estimates for Intercontinental Exchange’s earnings. The highest EPS estimate is $0.94 and the lowest is $0.84. Intercontinental Exchange reported earnings of $0.73 per share in the same quarter last year, which suggests a positive year over year growth rate of 20.5%. The firm is scheduled to issue its next earnings results on Wednesday, February 6th.
According to Zacks, analysts expect that Intercontinental Exchange will report full year earnings of $3.53 per share for the current fiscal year, with EPS estimates ranging from $3.49 to $3.59. For the next fiscal year, analysts expect that the company will post earnings of $3.87 per share, with EPS estimates ranging from $3.77 to $4.10. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Intercontinental Exchange.
Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Wednesday, October 31st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.05. Intercontinental Exchange had a return on equity of 11.67% and a net margin of 43.09%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the firm posted $0.73 EPS. The business’s revenue was up 4.7% compared to the same quarter last year.
Several equities research analysts have recently issued reports on ICE shares. ValuEngine raised Intercontinental Exchange from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Deutsche Bank increased their price target on Intercontinental Exchange from $85.00 to $86.00 and gave the stock a “buy” rating in a research note on Friday, November 16th. Zacks Investment Research downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. FIX started coverage on Intercontinental Exchange in a research note on Wednesday, September 5th. They set a “buy” rating and a $88.00 price target for the company. Finally, Wells Fargo & Co increased their price target on Intercontinental Exchange from $80.00 to $81.00 and gave the stock a “market perform” rating in a research note on Thursday, November 1st. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $84.50.
In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,200 shares of the firm’s stock in a transaction dated Monday, November 26th. The stock was sold at an average price of $80.14, for a total value of $96,168.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott A. Hill sold 403 shares of the firm’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $80.00, for a total value of $32,240.00. Following the completion of the transaction, the chief financial officer now owns 161,526 shares of the company’s stock, valued at approximately $12,922,080. The disclosure for this sale can be found here. Insiders have sold a total of 110,166 shares of company stock valued at $8,498,035 in the last quarter. 1.50% 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. Capital World Investors boosted its stake in Intercontinental Exchange by 464.9% in the 3rd quarter. Capital World Investors now owns 15,031,546 shares of the financial services provider’s stock worth $1,125,712,000 after purchasing an additional 12,370,546 shares during the period. Janus Henderson Group PLC boosted its stake in Intercontinental Exchange by 5.8% in the 3rd quarter. Janus Henderson Group PLC now owns 12,202,306 shares of the financial services provider’s stock worth $913,835,000 after purchasing an additional 666,185 shares during the period. OppenheimerFunds Inc. boosted its stake in Intercontinental Exchange by 17.1% in the 2nd quarter. OppenheimerFunds Inc. now owns 6,938,214 shares of the financial services provider’s stock worth $510,306,000 after purchasing an additional 1,011,626 shares during the period. Standard Life Aberdeen plc boosted its stake in Intercontinental Exchange by 3.5% in the 2nd quarter. Standard Life Aberdeen plc now owns 5,475,090 shares of the financial services provider’s stock worth $402,774,000 after purchasing an additional 183,310 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Intercontinental Exchange by 2.2% in the 3rd quarter. Franklin Resources Inc. now owns 4,537,726 shares of the financial services provider’s stock worth $339,832,000 after purchasing an additional 97,722 shares during the period. Institutional investors and hedge funds own 89.09% of the company’s stock.
Shares of Intercontinental Exchange stock traded up $0.14 during trading hours on Friday, hitting $79.26. 4,941,233 shares of the company’s stock traded hands, compared to its average volume of 2,670,105. Intercontinental Exchange has a 12-month low of $66.92 and a 12-month high of $82.65. The firm has a market cap of $45.07 billion, a PE ratio of 26.86, a P/E/G ratio of 2.27 and a beta of 0.50. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00.
Intercontinental Exchange declared that its board has authorized a stock repurchase program on Wednesday, October 31st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 4.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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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