Intercontinental Exchange Inc. (ICE) Expected to Post Quarterly Sales of $1.13 Billion
Equities analysts forecast that Intercontinental Exchange Inc. (NYSE:ICE) will post sales of $1.13 billion for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Intercontinental Exchange’s earnings. The lowest sales estimate is $1.12 billion and the highest is $1.13 billion. Intercontinental Exchange posted sales of $1.08 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 4.6%. The company is expected to announce its next quarterly earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Intercontinental Exchange will report full year sales of $1.13 billion for the current fiscal year, with estimates ranging from $4.63 billion to $4.65 billion. For the next fiscal year, analysts expect that the firm will post sales of $4.90 billion per share, with estimates ranging from $4.89 billion to $4.91 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Intercontinental Exchange.
Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.75. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS.
ICE has been the topic of a number of recent research reports. Deutsche Bank AG reaffirmed a “buy” rating and set a $66.00 price objective (down previously from $67.00) on shares of Intercontinental Exchange in a research report on Monday, May 15th. Royal Bank Of Canada set a $65.00 price objective on Intercontinental Exchange and gave the stock a “hold” rating in a research report on Tuesday, June 6th. BidaskClub raised Intercontinental Exchange from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Jefferies Group LLC reaffirmed a “buy” rating and set a $70.00 price objective on shares of Intercontinental Exchange in a research report on Monday, June 26th. Finally, Citigroup Inc. initiated coverage on Intercontinental Exchange in a research report on Wednesday, July 12th. They set a “neutral” rating and a $67.00 price objective on the stock. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Intercontinental Exchange has an average rating of “Buy” and an average price target of $68.81.
In related news, CFO Scott A. Hill sold 17,000 shares of the business’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $65.00, for a total transaction of $1,105,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey C. Sprecher sold 80,420 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $65.24, for a total transaction of $5,246,600.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,920 shares of company stock valued at $8,183,176. Insiders own 1.50% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. IHT Wealth Management LLC grew its stake in shares of Intercontinental Exchange by 10.8% during the second quarter. IHT Wealth Management LLC now owns 185 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 18 shares in the last quarter. Thompson Davis & CO. Inc. grew its stake in shares of Intercontinental Exchange by 2.2% during the second quarter. Thompson Davis & CO. Inc. now owns 1,517 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 32 shares in the last quarter. Norway Savings Bank grew its stake in shares of Intercontinental Exchange by 16.7% during the second quarter. Norway Savings Bank now owns 1,640 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 235 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Intercontinental Exchange by 186.5% during the second quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 1,240 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. acquired a new position in shares of Intercontinental Exchange during the second quarter worth $128,000. Hedge funds and other institutional investors own 89.74% of the company’s stock.
Shares of Intercontinental Exchange (NYSE ICE) opened at 65.34 on Friday. The company has a market cap of $7.52 billion, a PE ratio of 24.21 and a beta of 0.72. Intercontinental Exchange has a 12 month low of $52.27 and a 12 month high of $67.48. The firm’s 50-day moving average price is $65.48 and its 200 day moving average price is $62.40.
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Intercontinental Exchange Company Profile
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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