Intercontinental Exchange (NYSE:ICE) Reaches New 12-Month High Following Better-Than-Expected Earnings

Intercontinental Exchange, Inc. (NYSE:ICEGet Free Report) shares hit a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $135.34 and last traded at $134.08, with a volume of 224654 shares. The stock had previously closed at $128.08.

The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 13.06% and a net margin of 25.17%. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the business earned $1.25 EPS. Intercontinental Exchange’s revenue for the quarter was up 24.5% on a year-over-year basis.

Intercontinental Exchange Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a dividend of $0.45 per share. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date is Thursday, March 14th. This represents a $1.80 annualized dividend and a dividend yield of 1.34%. Intercontinental Exchange’s payout ratio is 38.98%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Barclays upgraded Intercontinental Exchange from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $120.00 to $148.00 in a report on Monday, January 8th. Morgan Stanley increased their price target on shares of Intercontinental Exchange from $119.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 28th. StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Tuesday. Raymond James increased their price objective on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 5th. Finally, Rosenblatt Securities dropped their price target on shares of Intercontinental Exchange from $168.00 to $154.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $137.33.

Read Our Latest Research Report on Intercontinental Exchange

Insiders Place Their Bets

In other news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $112.34, for a total transaction of $56,170.00. Following the sale, the chief financial officer now directly owns 15,025 shares in the company, valued at approximately $1,687,908.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $114.46, for a total value of $183,136.00. Following the completion of the transaction, the senior vice president now directly owns 16,802 shares of the company’s stock, valued at $1,923,156.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Warren Gardiner sold 500 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $112.34, for a total transaction of $56,170.00. Following the completion of the transaction, the chief financial officer now directly owns 15,025 shares of the company’s stock, valued at $1,687,908.50. The disclosure for this sale can be found here. Insiders have sold 77,419 shares of company stock worth $9,567,057 in the last ninety days. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Large investors have recently bought and sold shares of the company. OFI Invest Asset Management bought a new position in shares of Intercontinental Exchange in the 3rd quarter valued at about $25,000. Jones Financial Companies Lllp acquired a new position in shares of Intercontinental Exchange in the 3rd quarter valued at approximately $26,000. Fortitude Family Office LLC acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at approximately $28,000. Stuart Chaussee & Associates Inc. bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at approximately $28,000. Finally, Altshuler Shaham Ltd bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at approximately $29,000. Institutional investors own 87.91% of the company’s stock.

Intercontinental Exchange Stock Up 4.7 %

The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $74.97 billion, a P/E ratio of 31.12, a price-to-earnings-growth ratio of 2.57 and a beta of 1.01. The stock’s fifty day simple moving average is $124.70 and its two-hundred day simple moving average is $116.69.

About Intercontinental Exchange

(Get Free Report)

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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