Equities research analysts forecast that Intercontinental Exchange Inc. (NYSE:ICE) will announce $0.74 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Intercontinental Exchange’s earnings. The lowest EPS estimate is $0.72 and the highest is $0.76. Intercontinental Exchange reported earnings per share of $0.69 during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.2%. The firm is scheduled to announce its next earnings results before the market opens on Thursday, August 3rd.
On average, analysts expect that Intercontinental Exchange will report full year earnings of $3.01 per share for the current fiscal year, with EPS estimates ranging from $2.92 to $3.05. For the next year, analysts anticipate that the company will post earnings of $3.37 per share, with EPS estimates ranging from $3.20 to $3.53. Zacks’ earnings per share averages are an average based on a survey of analysts that follow Intercontinental Exchange.
Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Wednesday, May 3rd. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Intercontinental Exchange had a net margin of 26.48% and a return on equity of 10.67%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.68 earnings per share.
Several brokerages have recently commented on ICE. Royal Bank Of Canada raised Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $65.00 to $70.00 in a report on Thursday. Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a report on Thursday. Citigroup Inc. began coverage on Intercontinental Exchange in a report on Wednesday. They set a “neutral” rating and a $67.00 price objective for the company. BidaskClub lowered Intercontinental Exchange from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Jefferies Group LLC reissued a “buy” rating and set a $70.00 price objective on shares of Intercontinental Exchange in a report on Monday, June 26th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Intercontinental Exchange currently has an average rating of “Buy” and an average price target of $67.11.
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In other Intercontinental Exchange news, insider Charles A. Vice sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $60.53, for a total value of $907,950.00. Following the completion of the sale, the insider now owns 373,061 shares of the company’s stock, valued at $22,581,382.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles R. Crisp sold 3,365 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $58.65, for a total value of $197,357.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,889 shares of company stock valued at $10,350,825. 1.50% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Intercontinental Exchange by 2,943.4% in the first quarter. BlackRock Inc. now owns 35,050,179 shares of the financial services provider’s stock valued at $2,098,452,000 after buying an additional 33,898,484 shares in the last quarter. OppenheimerFunds Inc. raised its stake in shares of Intercontinental Exchange by 340.8% in the first quarter. OppenheimerFunds Inc. now owns 5,641,157 shares of the financial services provider’s stock valued at $337,737,000 after buying an additional 4,361,480 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of Intercontinental Exchange by 379.4% in the fourth quarter. Macquarie Group Ltd. now owns 3,398,113 shares of the financial services provider’s stock valued at $191,722,000 after buying an additional 2,689,297 shares in the last quarter. FMR LLC raised its stake in shares of Intercontinental Exchange by 19.3% in the first quarter. FMR LLC now owns 8,929,000 shares of the financial services provider’s stock valued at $534,580,000 after buying an additional 1,443,992 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Intercontinental Exchange by 3.8% in the first quarter. Vanguard Group Inc. now owns 39,318,668 shares of the financial services provider’s stock valued at $2,354,009,000 after buying an additional 1,425,397 shares in the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.
Intercontinental Exchange (ICE) traded down 1.99% on Monday, hitting $65.55. 2,851,591 shares of the stock were exchanged. Intercontinental Exchange has a 52-week low of $50.18 and a 52-week high of $66.73. The firm has a market cap of $7.54 billion, a PE ratio of 25.31 and a beta of 0.71. The company has a 50-day moving average price of $62.12 and a 200-day moving average price of $59.66.
About Intercontinental Exchange
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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