Intercontinental Exchange (NYSE:ICE) Posts Earnings Results, Meets Estimates

Intercontinental Exchange (NYSE:ICE) announced its quarterly earnings data on Thursday. The financial services provider reported $1.55 EPS for the quarter, meeting the consensus estimate of $1.55, Briefing.com reports. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the business earned $1.46 earnings per share. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year.

Intercontinental Exchange Trading Down 0.8 %

ICE stock traded down $1.23 on Friday, hitting $154.64. 4,510,319 shares of the company were exchanged, compared to its average volume of 2,546,484. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $88.79 billion, a price-to-earnings ratio of 38.51, a price-to-earnings-growth ratio of 2.51 and a beta of 1.08. Intercontinental Exchange has a twelve month low of $104.91 and a twelve month high of $167.99. The business’s fifty day moving average is $162.09 and its two-hundred day moving average is $148.03.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.16%. Intercontinental Exchange’s dividend payout ratio is presently 44.55%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ICE shares. Citigroup lifted their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Barclays decreased their target price on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research report on Friday. JPMorgan Chase & Co. raised their price target on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. TD Cowen assumed coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They set a “buy” rating and a $182.00 target price for the company. Finally, The Goldman Sachs Group upped their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $173.93.

Insider Buying and Selling at Intercontinental Exchange

In other news, CAO James W. Namkung sold 1,171 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total transaction of $187,360.00. Following the completion of the sale, the chief accounting officer now directly owns 16,665 shares in the company, valued at $2,666,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO James W. Namkung sold 1,171 shares of Intercontinental Exchange stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total transaction of $187,360.00. Following the transaction, the chief accounting officer now owns 16,665 shares in the company, valued at $2,666,400. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock worth $1,202,259 in the last quarter. 1.10% of the stock is owned by insiders.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.