Wall Street analysts expect that Intercontinental Exchange Inc. (NYSE:ICE) will post $1.16 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Intercontinental Exchange’s earnings. The lowest sales estimate is $1.15 billion and the highest is $1.18 billion. Intercontinental Exchange posted sales of $1.14 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.8%. The company is scheduled to report its next quarterly earnings report on Tuesday, February 6th.
On average, analysts expect that Intercontinental Exchange will report full-year sales of $1.16 billion for the current year, with estimates ranging from $4.64 billion to $4.67 billion. For the next year, analysts forecast that the firm will report sales of $4.95 billion per share, with estimates ranging from $4.91 billion to $4.98 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Intercontinental Exchange.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. Intercontinental Exchange had a return on equity of 11.01% and a net margin of 27.91%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the business posted $0.64 EPS.
A number of equities analysts have recently issued reports on the company. UBS Group AG raised their price target on Intercontinental Exchange from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Citigroup Inc. raised their price target on Intercontinental Exchange from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, October 19th. Royal Bank Of Canada restated a “buy” rating on shares of Intercontinental Exchange in a research note on Tuesday, August 15th. Barclays PLC raised their price target on Intercontinental Exchange from $72.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 10th. Finally, Wells Fargo & Co raised their price target on Intercontinental Exchange from $65.00 to $73.00 and gave the stock a “market perform” rating in a research note on Thursday, October 5th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $73.30.
Intercontinental Exchange (ICE) opened at $67.66 on Friday. The stock has a market capitalization of $39,582.88, a price-to-earnings ratio of 23.17, a PEG ratio of 2.50 and a beta of 0.71. Intercontinental Exchange has a 52 week low of $53.91 and a 52 week high of $71.24. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30.
Intercontinental Exchange declared that its board has authorized a stock buyback plan on Thursday, November 2nd that authorizes the company to buyback $1.20 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, insider Charles A. Vice sold 12,500 shares of Intercontinental Exchange stock in a transaction on Friday, October 6th. The stock was sold at an average price of $69.76, for a total transaction of $872,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Scott A. Hill sold 37,630 shares of Intercontinental Exchange stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $70.03, for a total value of $2,635,228.90. The disclosure for this sale can be found here. Insiders have sold 75,130 shares of company stock worth $5,167,729 over the last quarter. 1.50% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning lifted its position in shares of Intercontinental Exchange by 8.5% in the second quarter. Creative Planning now owns 9,252 shares of the financial services provider’s stock valued at $610,000 after acquiring an additional 726 shares in the last quarter. US Bancorp DE lifted its position in shares of Intercontinental Exchange by 1.6% in the second quarter. US Bancorp DE now owns 68,263 shares of the financial services provider’s stock valued at $4,500,000 after acquiring an additional 1,049 shares in the last quarter. Huntington National Bank lifted its position in shares of Intercontinental Exchange by 225.4% in the second quarter. Huntington National Bank now owns 2,873 shares of the financial services provider’s stock valued at $189,000 after acquiring an additional 1,990 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Intercontinental Exchange by 4.1% in the second quarter. Russell Investments Group Ltd. now owns 2,385,606 shares of the financial services provider’s stock valued at $157,251,000 after acquiring an additional 93,809 shares in the last quarter. Finally, Bray Capital Advisors purchased a new position in shares of Intercontinental Exchange in the second quarter valued at about $211,000. Institutional investors own 89.24% of the company’s stock.
Intercontinental Exchange Company Profile
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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