Intercontinental Exchange (NYSE:ICE – Get Rating) announced its earnings results on Thursday. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.01, Briefing.com reports. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.80 billion. Intercontinental Exchange had a return on equity of 13.41% and a net margin of 44.24%. Intercontinental Exchange’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $1.16 EPS.
Intercontinental Exchange Stock Performance
Shares of Intercontinental Exchange stock traded down $2.42 during mid-day trading on Friday, hitting $105.02. 2,687,745 shares of the stock were exchanged, compared to its average volume of 3,136,721. Intercontinental Exchange has a 12 month low of $90.05 and a 12 month high of $139.79. The company has a 50-day simple moving average of $97.81 and a 200 day simple moving average of $113.48. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $58.63 billion, a P/E ratio of 14.53, a P/E/G ratio of 2.64 and a beta of 0.90.
Intercontinental Exchange Announces Dividend
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.52 annualized dividend and a yield of 1.45%. Intercontinental Exchange’s payout ratio is 21.11%.
Insiders Place Their Bets
In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $99.08, for a total transaction of $158,528.00. Following the transaction, the senior vice president now owns 24,002 shares of the company’s stock, valued at approximately $2,378,118.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Christopher Scott Edmonds sold 492 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $93.61, for a total value of $46,056.12. Following the sale, the insider now owns 14,119 shares of the company’s stock, valued at approximately $1,321,679.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $99.08, for a total transaction of $158,528.00. Following the completion of the sale, the senior vice president now directly owns 24,002 shares in the company, valued at approximately $2,378,118.16. The disclosure for this sale can be found here. Insiders have sold a total of 86,296 shares of company stock valued at $8,537,490 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the business. RB Capital Management LLC grew its stake in Intercontinental Exchange by 3.2% in the 1st quarter. RB Capital Management LLC now owns 4,044 shares of the financial services provider’s stock valued at $534,000 after buying an additional 126 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in Intercontinental Exchange by 9.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 2,284 shares of the financial services provider’s stock valued at $302,000 after buying an additional 199 shares in the last quarter. Evergreen Capital Management LLC grew its stake in Intercontinental Exchange by 10.0% in the 1st quarter. Evergreen Capital Management LLC now owns 2,228 shares of the financial services provider’s stock valued at $294,000 after buying an additional 203 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its position in shares of Intercontinental Exchange by 13.5% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 1,855 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 220 shares in the last quarter. Finally, Kinneret Advisory LLC grew its position in shares of Intercontinental Exchange by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 15,826 shares of the financial services provider’s stock valued at $2,091,000 after purchasing an additional 354 shares in the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
ICE has been the subject of several analyst reports. Morgan Stanley raised their target price on Intercontinental Exchange from $145.00 to $147.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 13th. Rosenblatt Securities lowered their target price on Intercontinental Exchange from $157.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, April 14th. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday, May 6th. UBS Group decreased their price target on Intercontinental Exchange from $134.00 to $126.00 in a report on Monday, July 11th. Finally, Raymond James decreased their price target on Intercontinental Exchange from $142.00 to $126.00 and set a “strong-buy” rating for the company in a report on Wednesday, June 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $135.91.
Intercontinental Exchange Company Profile
Intercontinental Exchange, Inc, together with its subsidiaries, operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.
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