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

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

Intercontinental Exchange Trading Down 0.8 %

Shares of ICE stock traded down $1.23 on Friday, hitting $154.64. 3,715,485 shares of the company’s stock traded hands, compared to its average volume of 2,546,484. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization 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 fifty day simple moving average is $162.09 and its 200 day simple moving average is $148.03. Intercontinental Exchange has a one year low of $104.91 and a one year high of $167.99.

Intercontinental Exchange Dividend Announcement

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 dividend of $0.45 per share. The ex-dividend date 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 is 44.55%.

Insider Transactions at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 602 shares of the company’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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Intercontinental Exchange news, Director Martha A. Tirinnanzi sold 509 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $158.98, for a total transaction of $80,920.82. Following the transaction, the director now directly owns 3,958 shares of the company’s stock, valued at approximately $629,242.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Scott Edmonds sold 602 shares of the company’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 completion of the transaction, the insider now owns 14,034 shares of the company’s stock, valued at $2,284,875.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,489 shares of company stock worth $1,202,259. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ICE shares. Deutsche Bank Aktiengesellschaft dropped their price target on Intercontinental Exchange from $169.00 to $160.00 and set a “hold” rating on the stock in a research report on Friday. Piper Sandler boosted their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Barclays reduced 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 note on Friday. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Finally, Morgan Stanley lifted their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average 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.