Intercontinental Exchange (NYSE:ICE) Issues Quarterly Earnings Results

Intercontinental Exchange (NYSE:ICE) released its quarterly earnings data on Thursday. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55, Briefing.com reports. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 EPS.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $154.64 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 0.99. Intercontinental Exchange has a fifty-two week low of $104.91 and a fifty-two week high of $167.99. The firm has a fifty day moving average price of $161.98 and a two-hundred day moving average price of $148.33. The company has a market cap of $88.79 billion, a PE ratio of 36.64, a price-to-earnings-growth ratio of 2.35 and a beta of 1.08.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Monday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 42.65%.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange 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 directly owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Christopher Scott Edmonds sold 602 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $98,011.62. Following the completion of the transaction, the insider now directly owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now directly owns 44,865 shares of the company’s stock, valued at $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,489 shares of company stock valued at $1,202,259 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on ICE shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target on the stock. in a research note on Monday, October 14th. The Goldman Sachs Group increased their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Finally, Morgan Stanley increased their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $173.93.

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.