Intercontinental Exchange (NYSE:ICE) Announces Earnings Results, Beats Estimates By $0.03 EPS

Intercontinental Exchange (NYSE:ICE) released its quarterly earnings data on Thursday. The financial services provider reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03, Briefing.com reports. The business had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. Intercontinental Exchange’s revenue was up 22.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.43 EPS.

Intercontinental Exchange Trading Down 0.4 %

Shares of ICE stock traded down $0.59 during trading hours on Thursday, reaching $150.97. The company’s stock had a trading volume of 4,515,778 shares, compared to its average volume of 2,432,729. The stock has a market capitalization of $86.59 billion, a P/E ratio of 34.63, a P/E/G ratio of 2.69 and a beta of 1.06. Intercontinental Exchange has a one year low of $104.49 and a one year high of $153.28. The firm’s fifty day simple moving average is $140.52 and its 200 day simple moving average is $136.13. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.19%. Intercontinental Exchange’s dividend payout ratio is currently 41.28%.

Analyst Ratings Changes

ICE has been the subject of a number of recent analyst reports. Argus restated a “buy” rating and set a $153.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Rosenblatt Securities restated a “buy” rating and set a $164.00 price target on shares of Intercontinental Exchange in a research report on Friday, May 3rd. The Goldman Sachs Group upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and boosted their price target for the company from $143.00 to $167.00 in a research report on Monday, July 1st. Finally, Bank of America reduced their price target on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.07.

Insider Transactions at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 395 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $141.13, for a total transaction of $55,746.35. Following the sale, the chief technology officer now directly owns 64,471 shares in the company, valued at $9,098,792.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the completion of the transaction, the chief executive officer now owns 1,179,993 shares in the company, valued at $167,181,408.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Mayur Kapani sold 395 shares of Intercontinental Exchange stock in a transaction on Monday, July 8th. The shares were sold at an average price of $141.13, for a total value of $55,746.35. Following the transaction, the chief technology officer now owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,992 shares of company stock worth $9,197,801. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Company Profile

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.