Intercontinental Exchange (NYSE:ICE) Announces Earnings Results, Hits Expectations

Intercontinental Exchange (NYSE:ICE) released its quarterly earnings results on Thursday. The financial services provider reported $1.48 earnings per share for the quarter, hitting the consensus estimate of $1.48, Briefing.com reports. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the business posted $1.41 earnings per share. Intercontinental Exchange’s revenue was up 20.8% compared to the same quarter last year.

Intercontinental Exchange Stock Up 3.1 %

NYSE ICE traded up $3.96 during trading hours on Friday, hitting $130.50. The company had a trading volume of 3,990,207 shares, compared to its average volume of 2,426,097. The firm’s 50 day moving average is $135.17 and its 200 day moving average is $125.68. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange has a fifty-two week low of $103.81 and a fifty-two week high of $140.43. The company has a market capitalization of $74.73 billion, a price-to-earnings ratio of 31.07, a P/E/G ratio of 2.11 and a beta of 1.02.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 13th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.80 annualized dividend and a dividend yield of 1.38%. Intercontinental Exchange’s payout ratio is 42.86%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Raymond James lifted their price objective on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 5th. Morgan Stanley boosted their price objective 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. Piper Sandler raised their target price on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. boosted their price target on Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a report on Friday. Finally, Citigroup raised their price objective on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $147.92.

Insider Transactions at Intercontinental Exchange

In related news, insider Elizabeth Kathryn King sold 3,783 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $499,469.49. Following the sale, the insider now directly owns 17,242 shares in the company, valued at approximately $2,276,461.26. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Elizabeth Kathryn King sold 3,783 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $499,469.49. Following the completion of the sale, the insider now directly owns 17,242 shares of the company’s stock, valued at approximately $2,276,461.26. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction on Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the sale, the general counsel now directly owns 48,713 shares in the company, valued at approximately $6,417,450.62. The disclosure for this sale can be found here. Insiders sold 157,832 shares of company stock valued at $21,499,127 over the last quarter. Company insiders own 1.10% of the company’s stock.

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.