IntercontinentalExchange Group Inc. Expected to Earn Q3 2016 Earnings of $3.25 Per Share (ICE)
IntercontinentalExchange Group Inc. (NYSE:ICE) – Analysts at Jefferies Group reduced their Q3 2016 earnings per share estimates for IntercontinentalExchange Group in a report released on Tuesday. Jefferies Group analyst D. Fannon now anticipates that the firm will post earnings of $3.25 per share for the quarter, down from their prior estimate of $3.49. Jefferies Group has a “Buy” rating and a $310.00 price objective on the stock. Jefferies Group also issued estimates for IntercontinentalExchange Group’s Q4 2016 earnings at $3.48 EPS.
Several other research analysts have also weighed in on ICE. Zacks Investment Research lowered shares of IntercontinentalExchange Group from a “hold” rating to a “sell” rating in a research note on Friday, October 7th. Deutsche Bank AG boosted their price objective on shares of IntercontinentalExchange Group from $310.00 to $311.00 and gave the stock a “buy” rating in a research note on Friday, September 9th. Barclays PLC restated an “overweight” rating and set a $307.00 price objective (up from $295.00) on shares of IntercontinentalExchange Group in a research note on Thursday, August 11th. RBC Capital Markets restated a “sector perform” rating and set a $282.00 price objective (up from $255.00) on shares of IntercontinentalExchange Group in a research note on Thursday, August 4th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of IntercontinentalExchange Group from $300.00 to $310.00 and gave the stock an “outperform” rating in a research note on Thursday, August 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. IntercontinentalExchange Group currently has a consensus rating of “Buy” and a consensus price target of $297.33.
IntercontinentalExchange Group (NYSE:ICE) traded up 0.48% on Wednesday, reaching $266.62. 178,406 shares of the company traded hands. The stock has a 50-day moving average price of $276.98 and a 200-day moving average price of $262.04. The firm has a market cap of $30.67 billion, a P/E ratio of 22.00 and a beta of 0.92. IntercontinentalExchange Group has a 52-week low of $227.22 and a 52-week high of $287.02.
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IntercontinentalExchange Group (NYSE:ICE) last released its earnings results on Wednesday, August 3rd. The company reported $3.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.38 by $0.05. IntercontinentalExchange Group had a net margin of 25.83% and a return on equity of 10.72%. The business earned $1.10 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the company earned $2.90 earnings per share. The firm’s revenue was up 41.7% on a year-over-year basis.
A number of hedge funds have recently bought and sold shares of the stock. D. Scott Neal Inc. increased its stake in IntercontinentalExchange Group by 100.0% in the second quarter. D. Scott Neal Inc. now owns 400 shares of the company’s stock worth $102,000 after buying an additional 200 shares in the last quarter. Point72 Asia Hong Kong Ltd purchased a new stake in shares of IntercontinentalExchange Group during the second quarter worth $102,000. LSV Asset Management purchased a new stake in shares of IntercontinentalExchange Group during the second quarter worth $116,000. Johnson Financial Group Inc. increased its stake in shares of IntercontinentalExchange Group by 225.0% in the second quarter. Johnson Financial Group Inc. now owns 468 shares of the company’s stock worth $120,000 after buying an additional 324 shares during the period. Finally, Invictus RG increased its stake in shares of IntercontinentalExchange Group by 2,695.5% in the first quarter. Invictus RG now owns 615 shares of the company’s stock worth $145,000 after buying an additional 593 shares during the period. 90.04% of the stock is owned by hedge funds and other institutional investors.
In other IntercontinentalExchange Group news, CEO Jeffrey C. Sprecher sold 25,275 shares of the business’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $270.49, for a total value of $6,836,634.75. Following the completion of the sale, the chief executive officer now owns 313,445 shares of the company’s stock, valued at approximately $84,783,738.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charles A. Vice sold 1,500 shares of the business’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $267.55, for a total transaction of $401,325.00. Following the completion of the sale, the insider now directly owns 61,483 shares of the company’s stock, valued at approximately $16,449,776.65. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.
About IntercontinentalExchange Group
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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