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

Intercontinental Exchange (NYSE:ICE) announced its earnings results on Thursday. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55, Briefing.com reports. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. Intercontinental Exchange’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 EPS.

Intercontinental Exchange Stock Performance

NYSE ICE traded down $1.23 on Friday, hitting $154.64. The stock had a trading volume of 4,510,319 shares, compared to its average volume of 2,546,484. Intercontinental Exchange has a one year low of $104.91 and a one year high of $167.99. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock has a market cap of $88.79 billion, a price-to-earnings ratio of 38.51, a P/E/G ratio of 2.51 and a beta of 1.08. The company’s 50-day moving average is $162.09 and its two-hundred day moving average is $148.03.

Intercontinental Exchange Announces Dividend

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

Analyst Ratings Changes

Several research analysts have weighed in on ICE shares. Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective for the company. in a report on Monday, October 14th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Barclays cut their price objective on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft cut their price objective on Intercontinental Exchange from $169.00 to $160.00 and set a “hold” rating on the stock in a research note on Friday. Finally, Citigroup boosted their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $173.93.

Insiders Place Their Bets

In other news, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was 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 in the company, valued at approximately $2,284,875.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Christopher Scott Edmonds sold 602 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martha A. Tirinnanzi sold 509 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $158.98, for a total transaction of $80,920.82. Following the completion of the transaction, the director now owns 3,958 shares of the company’s stock, valued at $629,242.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,489 shares of company stock worth $1,202,259. Insiders own 1.10% of the company’s stock.

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.