Zacks: Analysts Expect Intercontinental Exchange, Inc. (NYSE:ICE) Will Post Earnings of $1.30 Per Share

Wall Street brokerages predict that Intercontinental Exchange, Inc. (NYSE:ICE) will announce earnings per share of $1.30 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Intercontinental Exchange’s earnings, with the highest EPS estimate coming in at $1.35 and the lowest estimate coming in at $1.24. Intercontinental Exchange reported earnings per share of $1.13 during the same quarter last year, which suggests a positive year over year growth rate of 15%. The firm is scheduled to issue its next earnings report on Thursday, February 3rd.

On average, analysts expect that Intercontinental Exchange will report full year earnings of $5.09 per share for the current year, with EPS estimates ranging from $4.98 to $5.15. For the next financial year, analysts forecast that the business will report earnings of $5.54 per share, with EPS estimates ranging from $5.29 to $5.81. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Intercontinental Exchange.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 28th. The financial services provider reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.07. Intercontinental Exchange had a net margin of 33.69% and a return on equity of 13.57%. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. The business’s quarterly revenue was up 27.6% compared to the same quarter last year.

A number of research firms recently weighed in on ICE. Raymond James increased their price objective on shares of Intercontinental Exchange from $136.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Friday, July 30th. Zacks Investment Research cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating and set a $126.00 price objective on the stock. in a research note on Friday, September 17th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Intercontinental Exchange from $140.00 to $152.00 and gave the stock a “buy” rating in a report on Friday, October 29th. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $131.00 to $143.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 2nd. Finally, Jefferies Financial Group started coverage on shares of Intercontinental Exchange in a report on Monday, October 25th. They set a “buy” rating and a $161.00 price target for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of “Buy” and an average price target of $142.55.

Shares of Intercontinental Exchange stock traded up $0.22 during trading hours on Thursday, reaching $132.27. The company’s stock had a trading volume of 2,007,674 shares, compared to its average volume of 2,326,031. The company’s 50 day simple moving average is $128.40 and its 200 day simple moving average is $120.78. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange has a one year low of $102.50 and a one year high of $139.79. The stock has a market cap of $74.52 billion, a P/E ratio of 24.45 and a beta of 0.80.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 31st. Stockholders of record on Friday, December 17th will be paid a $0.33 dividend. The ex-dividend date is Thursday, December 16th. This represents a $1.32 annualized dividend and a dividend yield of 1.00%. Intercontinental Exchange’s dividend payout ratio is presently 24.40%.

In related news, CEO Jeffrey C. Sprecher sold 109,037 shares of the business’s stock in a transaction that occurred on Wednesday, September 22nd. The stock was sold at an average price of $117.03, for a total value of $12,760,600.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Mark Wassersug sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, September 10th. The stock was sold at an average price of $120.00, for a total value of $240,000.00. The disclosure for this sale can be found here. Insiders sold a total of 129,375 shares of company stock worth $15,425,653 in the last 90 days. 1.30% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Intercontinental Exchange by 0.3% in the 3rd quarter. BlackRock Inc. now owns 41,520,577 shares of the financial services provider’s stock valued at $4,767,395,000 after acquiring an additional 135,218 shares during the period. State Street Corp increased its position in Intercontinental Exchange by 0.6% during the 2nd quarter. State Street Corp now owns 24,867,297 shares of the financial services provider’s stock worth $2,951,748,000 after buying an additional 146,602 shares during the period. Morgan Stanley increased its position in shares of Intercontinental Exchange by 16.5% in the third quarter. Morgan Stanley now owns 14,764,134 shares of the financial services provider’s stock worth $1,695,218,000 after purchasing an additional 2,085,712 shares during the period. Geode Capital Management LLC increased its position in shares of Intercontinental Exchange by 1.7% in the third quarter. Geode Capital Management LLC now owns 9,213,568 shares of the financial services provider’s stock worth $1,054,997,000 after purchasing an additional 155,402 shares during the period. Finally, Invesco Ltd. increased its position in shares of Intercontinental Exchange by 7.3% in the third quarter. Invesco Ltd. now owns 6,670,401 shares of the financial services provider’s stock worth $765,894,000 after purchasing an additional 456,137 shares during the period. 86.81% of the stock is owned by institutional investors.

About Intercontinental Exchange

Intercontinental Exchange, Inc engages in the management of online marketplace. It operates through the following segments: Exchanges; Fixed Income and Data Services; and Mortgage Technology. The company was founded by Jeffrey C. Sprecher in May 2000 and is headquartered in Atlanta, GA.

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Earnings History and Estimates for Intercontinental Exchange (NYSE:ICE)

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