Intercontinental Exchange (NYSE:ICE) Issues 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 Price Performance

ICE stock traded down $1.23 during mid-day trading on Friday, hitting $154.64. 4,510,332 shares of the stock were exchanged, compared to its average volume of 2,546,484. The business has a fifty day moving average price of $161.98 and a 200 day moving average price of $148.20. Intercontinental Exchange has a 12 month low of $104.91 and a 12 month high of $167.99. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $88.79 billion, a price-to-earnings ratio of 38.28, a PEG ratio of 2.51 and a beta of 1.08.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.45 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.80 annualized dividend and a yield of 1.16%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 44.55%.

Insider Activity

In related news, CAO James W. Namkung sold 1,171 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the completion of the sale, the chief accounting officer now owns 16,665 shares in the company, valued at $2,666,400. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 value of $80,920.82. Following the completion of the sale, the director now directly owns 3,958 shares of the company’s stock, valued at $629,242.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO James W. Namkung sold 1,171 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $160.00, for a total transaction of $187,360.00. Following the sale, the chief accounting officer now owns 16,665 shares of the company’s stock, valued at approximately $2,666,400. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,489 shares of company stock worth $1,202,259. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ICE. Piper Sandler boosted their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Citigroup upped their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Friday. Morgan Stanley upped their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $173.93.

Intercontinental Exchange Company Profile

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.