FY2022 EPS Estimates for Intercontinental Exchange, Inc. (NYSE:ICE) Reduced by Oppenheimer

Intercontinental Exchange, Inc. (NYSE:ICEGet Rating) – Equities research analysts at Oppenheimer dropped their FY2022 earnings per share (EPS) estimates for Intercontinental Exchange in a research note issued on Wednesday, January 18th. Oppenheimer analyst O. Lau now forecasts that the financial services provider will post earnings of $5.38 per share for the year, down from their previous estimate of $5.45. The consensus estimate for Intercontinental Exchange’s current full-year earnings is $5.32 per share. Oppenheimer also issued estimates for Intercontinental Exchange’s Q1 2023 earnings at $1.42 EPS, Q2 2023 earnings at $1.39 EPS, Q3 2023 earnings at $1.37 EPS, Q4 2023 earnings at $1.40 EPS, FY2023 earnings at $5.58 EPS and FY2024 earnings at $5.92 EPS.

Intercontinental Exchange (NYSE:ICEGet Rating) last posted its earnings results on Thursday, November 3rd. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.05. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.79 billion. Intercontinental Exchange had a return on equity of 13.38% and a net margin of 26.58%.

Several other research analysts have also weighed in on ICE. Keefe, Bruyette & Woods lifted their target price on Intercontinental Exchange from $125.00 to $127.00 and gave the stock an “outperform” rating in a report on Thursday, January 12th. Bank of America raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their price target for the company from $116.00 to $132.00 in a research note on Thursday, November 17th. TheStreet downgraded Intercontinental Exchange from a “b-” rating to a “c+” rating in a research note on Wednesday, October 19th. Deutsche Bank Aktiengesellschaft dropped their price target on Intercontinental Exchange from $134.00 to $131.00 in a research note on Wednesday, January 11th. Finally, Raymond James lifted their price target on Intercontinental Exchange from $123.00 to $130.00 and gave the company a “strong-buy” rating in a research note on Tuesday, December 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $132.25.

Intercontinental Exchange Stock Performance

ICE stock opened at $108.48 on Friday. The business’s 50-day moving average price is $104.98 and its two-hundred day moving average price is $100.69. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.81. The firm has a market cap of $60.59 billion, a PE ratio of 24.05, a P/E/G ratio of 3.58 and a beta of 0.91. Intercontinental Exchange has a 1-year low of $88.60 and a 1-year high of $137.40.

Hedge Funds Weigh In On Intercontinental Exchange

A number of institutional investors have recently bought and sold shares of the business. DAVENPORT & Co LLC increased its position in Intercontinental Exchange by 2.9% during the fourth quarter. DAVENPORT & Co LLC now owns 37,860 shares of the financial services provider’s stock worth $3,884,000 after buying an additional 1,056 shares during the last quarter. Veriti Management LLC boosted its holdings in shares of Intercontinental Exchange by 1.1% during the fourth quarter. Veriti Management LLC now owns 11,344 shares of the financial services provider’s stock worth $1,164,000 after acquiring an additional 127 shares during the period. Mill Capital Management LLC boosted its holdings in shares of Intercontinental Exchange by 57.1% during the fourth quarter. Mill Capital Management LLC now owns 125,654 shares of the financial services provider’s stock worth $12,891,000 after acquiring an additional 45,686 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in shares of Intercontinental Exchange by 1.0% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 13,494 shares of the financial services provider’s stock worth $1,384,000 after acquiring an additional 130 shares during the period. Finally, Hixon Zuercher LLC boosted its holdings in shares of Intercontinental Exchange by 1.6% during the fourth quarter. Hixon Zuercher LLC now owns 36,100 shares of the financial services provider’s stock worth $3,703,000 after acquiring an additional 580 shares during the period. Institutional investors and hedge funds own 87.28% of the company’s stock.

Insider Activity at Intercontinental Exchange

In related news, CEO Jeffrey C. Sprecher sold 30,000 shares of Intercontinental Exchange stock in a transaction dated Tuesday, November 29th. The stock was sold at an average price of $105.37, for a total value of $3,161,100.00. Following the sale, the chief executive officer now owns 2,971,705 shares of the company’s stock, valued at $313,128,555.85. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 29th. The stock was sold at an average price of $105.37, for a total transaction of $3,161,100.00. Following the transaction, the chief executive officer now owns 2,971,705 shares of the company’s stock, valued at $313,128,555.85. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $105.98, for a total value of $169,568.00. Following the transaction, the senior vice president now directly owns 20,934 shares in the company, valued at approximately $2,218,585.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,100 shares of company stock valued at $3,593,168. 1.30% of the stock is owned by insiders.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 15th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Wednesday, December 14th. Intercontinental Exchange’s dividend payout ratio is currently 33.70%.

About Intercontinental Exchange

(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.

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

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