IntercontinentalExchange Rating Reiterated by JPMorgan Chase & Co. (ICE)
IntercontinentalExchange (NYSE:ICE)‘s stock had its “overweight” rating reiterated by JPMorgan Chase & Co. in a research note issued on Tuesday. They currently have a $224.00 target price on the stock, down from their previous target price of $232.00. JPMorgan Chase & Co.’s target price would suggest a potential upside of 18.57% from the stock’s previous close.
IntercontinentalExchange (NYSE:ICE) traded up 0.04% during mid-day trading on Tuesday, hitting $188.995. 554,801 shares of the company’s stock traded hands. IntercontinentalExchange has a 52 week low of $168.70 and a 52 week high of $229.50. The stock has a 50-day moving average of $196.0 and a 200-day moving average of $207.1. The company has a market cap of $21.743 billion and a P/E ratio of 44.30.
IntercontinentalExchange (NYSE:ICE) last announced its earnings results on Thursday, May 8th. The company reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.02. The company had revenue of $932.00 million for the quarter, compared to the consensus estimate of $922.92 million. During the same quarter in the previous year, the company posted $2.03 earnings per share. The company’s revenue for the quarter was up 164.8% on a year-over-year basis. On average, analysts predict that IntercontinentalExchange will post $9.96 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, June 12th.
ICE has been the subject of a number of other recent research reports. Analysts at Barclays reiterated an “overweight” rating on shares of IntercontinentalExchange in a research note on Thursday, June 5th. They now have a $225.00 price target on the stock, down previously from $232.00. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of IntercontinentalExchange in a research note on Thursday, June 5th. They now have a $215.00 price target on the stock, down previously from $220.00. Finally, analysts at Argus cut their price target on shares of IntercontinentalExchange from $240.00 to $220.00 in a research note on Monday, May 19th. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $219.31.
In other IntercontinentalExchange news, Director Vincent Tese unloaded 1,000 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $195.48, for a total transaction of $195,480.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets.
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