Wall Street analysts expect Intercontinental Exchange (NYSE:ICE) to post $0.88 earnings per share for the current quarter, according to Zacks. Three analysts have made estimates for Intercontinental Exchange’s earnings. The highest EPS estimate is $0.91 and the lowest is $0.87. Intercontinental Exchange posted earnings of $0.74 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 18.9%. The firm is scheduled to issue its next earnings report before the market opens on Thursday, May 3rd.
According to Zacks, analysts expect that Intercontinental Exchange will report full year earnings of $3.57 per share for the current fiscal year, with EPS estimates ranging from $3.50 to $3.63. For the next financial year, analysts expect that the firm will post earnings of $3.97 per share, with EPS estimates ranging from $3.90 to $4.11. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover Intercontinental Exchange.
Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.01. Intercontinental Exchange had a return on equity of 10.83% and a net margin of 43.09%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. Intercontinental Exchange’s revenue was up .5% compared to the same quarter last year.
Several research firms have weighed in on ICE. Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research report on Wednesday. Deutsche Bank boosted their price objective on Intercontinental Exchange from $80.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, April 6th. Sanford C. Bernstein began coverage on Intercontinental Exchange in a research report on Monday. They issued an “outperform” rating and a $85.00 price objective on the stock. ValuEngine raised Intercontinental Exchange from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Berenberg Bank began coverage on Intercontinental Exchange in a research report on Thursday, January 25th. They issued a “buy” rating and a $90.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Intercontinental Exchange presently has an average rating of “Buy” and a consensus price target of $78.36.
Intercontinental Exchange stock traded up $0.09 during trading on Friday, hitting $72.55. 203,963 shares of the company were exchanged, compared to its average volume of 2,780,262. Intercontinental Exchange has a 52 week low of $57.91 and a 52 week high of $76.30. The company has a market capitalization of $41,569.98, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 2.50 and a beta of 0.64. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.25.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Thursday, September 13th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, September 12th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.32%. Intercontinental Exchange’s dividend payout ratio is presently 32.54%.
In other news, Vice Chairman Charles A. Vice sold 50,000 shares of the company’s stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $71.97, for a total transaction of $3,598,500.00. Following the transaction, the insider now owns 432,507 shares of the company’s stock, valued at approximately $31,127,528.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott A. Hill sold 14,772 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $75.00, for a total value of $1,107,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 229,548 shares of company stock worth $16,812,759 in the last ninety days. Insiders own 1.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Chemical Bank lifted its holdings in Intercontinental Exchange by 10.5% during the 4th quarter. Chemical Bank now owns 24,546 shares of the financial services provider’s stock worth $1,732,000 after purchasing an additional 2,341 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Intercontinental Exchange by 10.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 8,944 shares of the financial services provider’s stock worth $631,000 after purchasing an additional 813 shares in the last quarter. Xact Kapitalforvaltning AB lifted its holdings in Intercontinental Exchange by 7.1% during the 4th quarter. Xact Kapitalforvaltning AB now owns 100,638 shares of the financial services provider’s stock worth $7,101,000 after purchasing an additional 6,661 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Intercontinental Exchange by 7.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 85,542 shares of the financial services provider’s stock worth $6,037,000 after purchasing an additional 5,976 shares in the last quarter. Finally, CNB Bank purchased a new stake in Intercontinental Exchange during the 4th quarter worth about $448,000. 90.74% of the stock is currently owned by hedge funds and other institutional investors.
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Intercontinental Exchange Company Profile
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.
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