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

Intercontinental Exchange (NYSE:ICE) announced its earnings results on Thursday. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55, Briefing.com reports. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter last year, the company posted $1.46 EPS.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $154.64 on Friday. The company’s fifty day simple moving average is $161.98 and its 200-day simple moving average is $148.33. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The firm has a market cap of $88.79 billion, a PE ratio of 36.64, a P/E/G ratio of 2.35 and a beta of 1.08. Intercontinental Exchange has a 12 month low of $104.91 and a 12 month high of $167.99.

Intercontinental Exchange Dividend Announcement

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

Insider Transactions at Intercontinental Exchange

In other news, COO Stuart Glen Williams sold 468 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the sale, the chief operating officer now owns 13,530 shares of the company’s stock, valued at $2,202,819.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $76,195.08. Following the sale, the chief operating officer now directly owns 13,530 shares of the company’s stock, valued at approximately $2,202,819.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the sale, the general counsel now directly owns 44,865 shares in the company, valued at $7,159,108.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock valued at $1,202,259 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Citigroup increased their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Barclays lowered their price objective on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a research report on Friday. The Goldman Sachs Group raised their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research report on Friday. Finally, Bank of America lifted their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $173.93.

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.