Intercontinental Exchange (NYSE:ICE – Get Free Report) 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
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.
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