Intercontinental Exchange, Inc. (NYSE:ICE – Get Rating) – Analysts at Jefferies Financial Group decreased their Q2 2022 earnings per share estimates for shares of Intercontinental Exchange in a research report issued on Friday, May 20th. Jefferies Financial Group analyst D. Fannon now anticipates that the financial services provider will post earnings per share of $1.30 for the quarter, down from their previous forecast of $1.31. Jefferies Financial Group also issued estimates for Intercontinental Exchange’s Q3 2022 earnings at $1.34 EPS, Q4 2022 earnings at $1.39 EPS, Q1 2023 earnings at $1.42 EPS, Q2 2023 earnings at $1.40 EPS, Q3 2023 earnings at $1.44 EPS, Q4 2023 earnings at $1.47 EPS and FY2023 earnings at $5.73 EPS.
Other equities analysts have also recently issued reports about the company. Keefe, Bruyette & Woods cut Intercontinental Exchange from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $83.00 to $80.00 in a research report on Monday, May 9th. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, May 6th. Citigroup lowered their price target on Intercontinental Exchange from $160.00 to $152.00 in a report on Wednesday, April 13th. Rosenblatt Securities lowered their price target on Intercontinental Exchange from $157.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, April 14th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Intercontinental Exchange from $143.00 to $117.00 in a report on Thursday, May 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange has an average rating of “Buy” and a consensus target price of $140.09.
Shares of NYSE ICE opened at $98.36 on Monday. The stock has a market cap of $54.91 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 1.87 and a beta of 0.88. Intercontinental Exchange has a fifty-two week low of $93.45 and a fifty-two week high of $139.79. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a fifty day moving average of $118.46 and a 200-day moving average of $126.34. Intercontinental Exchange (NYSE:ICE – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Intercontinental Exchange had a return on equity of 13.41% and a net margin of 44.24%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter last year, the firm posted $1.34 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be issued a dividend of $0.38 per share. The ex-dividend date is Tuesday, June 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.55%. Intercontinental Exchange’s dividend payout ratio is presently 21.11%.
In other Intercontinental Exchange news, insider David S. Goone sold 36,570 shares of the firm’s stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $135.02, for a total transaction of $4,937,681.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Warren Gardiner sold 2,034 shares of the firm’s stock in a transaction dated Thursday, February 24th. The shares were sold at an average price of $120.95, for a total value of $246,012.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,567 shares of company stock worth $8,697,897. Insiders own 1.30% of the company’s stock.
Several institutional investors have recently modified their holdings of ICE. EagleClaw Capital Managment LLC grew its position in shares of Intercontinental Exchange by 2.7% during the third quarter. EagleClaw Capital Managment LLC now owns 54,985 shares of the financial services provider’s stock valued at $6,299,000 after purchasing an additional 1,425 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in Intercontinental Exchange by 8.1% in the third quarter. Mercer Global Advisors Inc. ADV now owns 19,725 shares of the financial services provider’s stock worth $2,265,000 after acquiring an additional 1,480 shares in the last quarter. B. Riley Wealth Management Inc. purchased a new position in Intercontinental Exchange in the third quarter worth about $543,000. First Republic Investment Management Inc. grew its position in Intercontinental Exchange by 18.7% in the third quarter. First Republic Investment Management Inc. now owns 259,012 shares of the financial services provider’s stock worth $29,740,000 after acquiring an additional 40,734 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in Intercontinental Exchange by 8.5% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 59,583 shares of the financial services provider’s stock worth $6,841,000 after acquiring an additional 4,663 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.
About Intercontinental Exchange (Get Rating)
Intercontinental Exchange, Inc, together with its subsidiaries, operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.
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