Intercontinental Exchange (NYSE:ICE) Issues Earnings Results, Hits Expectations

Intercontinental Exchange (NYSE:ICE) posted its quarterly earnings data on Thursday. The financial services provider reported $1.48 EPS for the quarter, hitting analysts’ consensus estimates of $1.48, Briefing.com reports. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.41 EPS.

Intercontinental Exchange Stock Up 3.1 %

Shares of NYSE:ICE opened at $130.50 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.00 and a current ratio of 1.01. Intercontinental Exchange has a 1 year low of $103.81 and a 1 year high of $140.43. The stock has a market capitalization of $74.73 billion, a P/E ratio of 29.93, a PEG ratio of 2.14 and a beta of 1.02. The stock has a 50-day simple moving average of $135.01 and a 200-day simple moving average of $125.81.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Thursday, June 13th. Intercontinental Exchange’s payout ratio is currently 41.28%.

Analyst Ratings Changes

A number of analysts recently commented on ICE shares. Citigroup lifted their price objective on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Bank of America dropped their price objective on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research report on Friday, April 19th. UBS Group lifted their price objective on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Keefe, Bruyette & Woods lowered their price target on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a report on Friday. Finally, Barclays lowered their price target on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $147.92.

Insider Transactions at Intercontinental Exchange

In related news, insider Elizabeth Kathryn King sold 3,783 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $499,469.49. Following the transaction, the insider now directly owns 17,242 shares of the company’s stock, valued at approximately $2,276,461.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Warren Gardiner sold 2,176 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $136.00, for a total transaction of $295,936.00. Following the transaction, the chief financial officer now directly owns 12,061 shares of the company’s stock, valued at approximately $1,640,296. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Elizabeth Kathryn King sold 3,783 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $499,469.49. Following the transaction, the insider now directly owns 17,242 shares in the company, valued at $2,276,461.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,832 shares of company stock worth $21,499,127. 1.10% of the stock is currently owned by company insiders.

About Intercontinental Exchange

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.