Intercontinental Exchange, Inc. (NYSE:ICE) Expected to Announce Quarterly Sales of $1.84 Billion

Wall Street analysts expect Intercontinental Exchange, Inc. (NYSE:ICEGet Rating) to report $1.84 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Intercontinental Exchange’s earnings, with estimates ranging from $1.80 billion to $1.87 billion. Intercontinental Exchange posted sales of $1.71 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.6%. The firm is scheduled to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Intercontinental Exchange will report full-year sales of $7.47 billion for the current fiscal year, with estimates ranging from $7.41 billion to $7.52 billion. For the next year, analysts expect that the company will report sales of $7.80 billion, with estimates ranging from $7.62 billion to $8.06 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Intercontinental Exchange.

Intercontinental Exchange (NYSE:ICEGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Intercontinental Exchange had a return on equity of 13.41% and a net margin of 44.24%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the previous year, the business earned $1.34 earnings per share. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year.

Several research analysts have issued reports on ICE shares. Keefe, Bruyette & Woods cut shares of Intercontinental Exchange from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $83.00 to $80.00 in a report on Monday, May 9th. UBS Group lowered their price objective on Intercontinental Exchange from $164.00 to $149.00 in a research report on Friday, February 4th. Citigroup decreased their price target on Intercontinental Exchange from $160.00 to $152.00 in a research note on Wednesday, April 13th. Credit Suisse Group initiated coverage on Intercontinental Exchange in a research report on Tuesday, February 15th. They set an “outperform” rating and a $160.00 price objective on the stock. Finally, Morgan Stanley boosted 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $140.09.

In related news, CEO Jeffrey C. Sprecher sold 10,000 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $123.11, for a total transaction of $1,231,100.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David S. Goone sold 36,570 shares of the business’s stock in a transaction that occurred on Friday, March 4th. The stock was sold at an average price of $135.02, for a total value of $4,937,681.40. The disclosure for this sale can be found here. Insiders have sold 76,075 shares of company stock worth $9,882,941 over the last quarter. 1.30% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of the stock. NuWave Investment Management LLC bought a new stake in Intercontinental Exchange in the 4th quarter valued at $25,000. CVA Family Office LLC lifted its position in shares of Intercontinental Exchange by 345.2% in the fourth quarter. CVA Family Office LLC now owns 187 shares of the financial services provider’s stock worth $26,000 after buying an additional 145 shares in the last quarter. Curi Wealth Management LLC bought a new position in Intercontinental Exchange during the fourth quarter valued at approximately $27,000. Rather & Kittrell Inc. purchased a new position in Intercontinental Exchange during the 4th quarter valued at approximately $27,000. Finally, Salem Investment Counselors Inc. bought a new stake in Intercontinental Exchange in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Shares of Intercontinental Exchange stock opened at $97.62 on Monday. Intercontinental Exchange has a 1 year low of $93.45 and a 1 year high of $139.79. The firm’s 50-day moving average is $119.76 and its 200 day moving average is $126.81. The stock has a market cap of $54.50 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 1.87 and a beta of 0.88. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.01 and a quick ratio of 1.01.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Tuesday, June 14th. Intercontinental Exchange’s payout ratio is 21.11%.

Intercontinental Exchange Company Profile (Get Rating)

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.

Featured Stories

Get a free copy of the Zacks research report on Intercontinental Exchange (ICE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Intercontinental Exchange (NYSE:ICE)

Want More Great Investing Ideas?

Receive News & Ratings for Intercontinental Exchange Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange and related companies with MarketBeat.com's FREE daily email newsletter.