Zacks Research Weighs in on Intercontinental Exchange, Inc.’s Q2 2024 Earnings (NYSE:ICE)

Intercontinental Exchange, Inc. (NYSE:ICE) – Investment analysts at Zacks Research lifted their Q2 2024 earnings per share (EPS) estimates for shares of Intercontinental Exchange in a research report issued to clients and investors on Thursday, May 23rd. Zacks Research analyst T. De now expects that the financial services provider will post earnings per share of $1.45 for the quarter, up from their previous estimate of $1.38. The consensus estimate for Intercontinental Exchange’s current full-year earnings is $5.95 per share. Zacks Research also issued estimates for Intercontinental Exchange’s Q3 2024 earnings at $1.45 EPS, FY2024 earnings at $5.87 EPS, Q1 2025 earnings at $1.62 EPS, Q2 2025 earnings at $1.61 EPS, Q3 2025 earnings at $1.60 EPS, Q4 2025 earnings at $1.73 EPS, FY2025 earnings at $6.57 EPS and Q1 2026 earnings at $1.76 EPS.

Several other equities research analysts also recently commented on the stock. Argus reiterated a “buy” rating and set a $153.00 target price on shares of Intercontinental Exchange in a research report on Tuesday. Barclays cut their price objective on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Bank of America lowered 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. Finally, JPMorgan Chase & Co. upped their target price on Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $148.29.

Intercontinental Exchange Stock Up 0.7 %

Shares of ICE opened at $136.34 on Friday. The stock has a market capitalization of $78.20 billion, a price-to-earnings ratio of 31.27, a PEG ratio of 2.55 and a beta of 1.02. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a fifty day moving average of $134.28 and a 200-day moving average of $128.69. Intercontinental Exchange has a 52 week low of $103.81 and a 52 week high of $140.43.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting the consensus estimate of $1.48. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The firm’s revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.41 EPS.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ICE. Pettyjohn Wood & White Inc. lifted its holdings in Intercontinental Exchange by 0.5% during the fourth quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock valued at $2,031,000 after purchasing an additional 75 shares during the last quarter. Busey Bank boosted its holdings in Intercontinental Exchange by 3.4% in the 1st quarter. Busey Bank now owns 2,439 shares of the financial services provider’s stock worth $335,000 after buying an additional 80 shares during the period. Western Pacific Wealth Management LP grew its stake in Intercontinental Exchange by 4.9% in the 4th quarter. Western Pacific Wealth Management LP now owns 1,715 shares of the financial services provider’s stock valued at $220,000 after buying an additional 80 shares in the last quarter. Spire Wealth Management lifted its position in shares of Intercontinental Exchange by 16.4% during the first quarter. Spire Wealth Management now owns 582 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 82 shares in the last quarter. Finally, PDS Planning Inc boosted its holdings in shares of Intercontinental Exchange by 2.8% in the first quarter. PDS Planning Inc now owns 3,092 shares of the financial services provider’s stock worth $425,000 after acquiring an additional 83 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the acquisition, the insider now owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Jeffrey C. Sprecher sold 58,388 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $137.21, for a total value of $8,011,417.48. Following the sale, the chief executive officer now owns 1,179,895 shares of the company’s stock, valued at approximately $161,893,392.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of Intercontinental Exchange stock in a transaction on Monday, March 4th. The shares were purchased at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the completion of the acquisition, the insider now owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The disclosure for this purchase can be found here. Insiders have sold 61,467 shares of company stock worth $8,433,168 in the last 90 days. Insiders own 1.10% of the company’s stock.

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.