Intercontinental Exchange (ICE) Announces Earnings Results

Intercontinental Exchange (NYSE:ICE) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01, Bloomberg Earnings reports. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Intercontinental Exchange had a net margin of 27.91% and a return on equity of 11.01%. The business’s revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.71 earnings per share.

Intercontinental Exchange (NYSE ICE) traded down $0.64 on Wednesday, reaching $71.63. 1,091,685 shares of the company traded hands, compared to its average volume of 2,534,666. The stock has a market capitalization of $41,829.37, a PE ratio of 24.49, a price-to-earnings-growth ratio of 2.46 and a beta of 0.66. Intercontinental Exchange has a 52 week low of $56.80 and a 52 week high of $76.14. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.34%. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, March 14th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 29.09%.

A number of equities research analysts have recently commented on ICE shares. UBS Group increased their price target on shares of Intercontinental Exchange from $73.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Berenberg Bank started coverage on shares of Intercontinental Exchange in a report on Thursday, January 25th. They set a “buy” rating and a $90.00 price target on the stock. Zacks Investment Research upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a report on Wednesday, January 3rd. Argus increased their price target on shares of Intercontinental Exchange from $72.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. Finally, Citigroup increased their price objective on shares of Intercontinental Exchange from $75.00 to $77.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $76.73.

Intercontinental Exchange declared that its board has authorized a stock buyback plan on Thursday, November 2nd that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

In related news, insider Dean S. Mathison sold 1,042 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $75.79, for a total transaction of $78,973.18. Following the completion of the transaction, the insider now directly owns 12,485 shares of the company’s stock, valued at $946,238.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott A. Hill sold 7,526 shares of Intercontinental Exchange stock in a transaction on Friday, January 12th. The stock was sold at an average price of $75.00, for a total transaction of $564,450.00. Following the completion of the transaction, the chief financial officer now directly owns 202,371 shares of the company’s stock, valued at $15,177,825. The disclosure for this sale can be found here. Insiders have sold 48,910 shares of company stock valued at $3,579,672 over the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

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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.

Earnings History for Intercontinental Exchange (NYSE:ICE)

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