Analysts Expect Intercontinental Exchange Inc. (ICE) to Announce $0.70 EPS
Analysts forecast that Intercontinental Exchange Inc. (NYSE:ICE) will report earnings of $0.70 per share for the current quarter, Zacks reports. Three analysts have made estimates for Intercontinental Exchange’s earnings. The lowest EPS estimate is $0.68 and the highest is $0.72. Intercontinental Exchange reported earnings per share of $0.64 in the same quarter last year, which indicates a positive year-over-year growth rate of 9.4%. The firm is scheduled to announce its next earnings report on Tuesday, November 7th.
On average, analysts expect that Intercontinental Exchange will report full-year earnings of $2.94 per share for the current fiscal year, with EPS estimates ranging from $2.92 to $2.97. For the next financial year, analysts forecast that the firm will post earnings of $3.33 per share, with EPS estimates ranging from $3.25 to $3.45. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Intercontinental Exchange.
Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the firm earned $0.69 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis.
A number of brokerages have weighed in on ICE. BidaskClub downgraded Intercontinental Exchange from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Zacks Investment Research upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research note on Thursday, July 13th. Royal Bank Of Canada upgraded Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $65.00 to $70.00 in a research note on Thursday, July 13th. Jefferies Group LLC restated a “buy” rating and issued a $73.00 target price (up from $70.00) on shares of Intercontinental Exchange in a research note on Monday, July 17th. Finally, Citigroup Inc. began coverage on Intercontinental Exchange in a research note on Wednesday, July 12th. They issued a “neutral” rating and a $67.00 target price for the company. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $68.36.
Intercontinental Exchange (ICE) traded down 2.24% on Thursday, reaching $64.30. The company’s stock had a trading volume of 2,802,189 shares. Intercontinental Exchange has a 52-week low of $52.27 and a 52-week high of $67.48. The stock has a market cap of $7.40 billion, a price-to-earnings ratio of 23.82 and a beta of 0.72. The firm’s 50-day moving average price is $65.53 and its 200-day moving average price is $62.37.
In related news, CFO Scott A. Hill sold 17,000 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $65.00, for a total value of $1,105,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Charles A. Vice sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $66.33, for a total transaction of $994,950.00. Following the completion of the transaction, the insider now directly owns 384,971 shares in the company, valued at approximately $25,535,126.43. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 124,920 shares of company stock valued at $8,183,176. 1.50% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Intercontinental Exchange by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 40,162,938 shares of the financial services provider’s stock valued at $2,647,541,000 after acquiring an additional 844,270 shares in the last quarter. BlackRock Inc. lifted its position in Intercontinental Exchange by 1.1% in the 2nd quarter. BlackRock Inc. now owns 35,446,221 shares of the financial services provider’s stock valued at $2,336,613,000 after acquiring an additional 396,042 shares in the last quarter. Wellington Management Group LLP lifted its position in Intercontinental Exchange by 2.8% in the 1st quarter. Wellington Management Group LLP now owns 26,817,902 shares of the financial services provider’s stock valued at $1,605,588,000 after acquiring an additional 721,080 shares in the last quarter. State Street Corp lifted its position in Intercontinental Exchange by 1.9% in the 1st quarter. State Street Corp now owns 25,648,056 shares of the financial services provider’s stock valued at $1,535,555,000 after acquiring an additional 481,909 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Intercontinental Exchange by 19.9% in the 2nd quarter. Northern Trust Corp now owns 11,355,251 shares of the financial services provider’s stock valued at $748,538,000 after acquiring an additional 1,883,432 shares in the last quarter. 89.74% of the stock is currently owned by institutional investors and hedge funds.
About Intercontinental Exchange
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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