Intercontinental Exchange (NYSE:ICE) Issues Quarterly Earnings Results

Intercontinental Exchange (NYSE:ICE) posted its earnings results on Thursday. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55, Briefing.com reports. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period last year, the company posted $1.46 EPS. The company’s quarterly revenue was up 17.3% compared to the same quarter last year.

Intercontinental Exchange Stock Performance

Shares of ICE traded down $1.23 on Friday, reaching $154.64. The company’s stock had a trading volume of 4,510,332 shares, compared to its average volume of 2,546,484. Intercontinental Exchange has a 12-month low of $104.91 and a 12-month high of $167.99. The stock has a market capitalization of $88.79 billion, a P/E ratio of 38.28, a PEG ratio of 2.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The stock’s 50 day simple moving average is $161.98 and its two-hundred day simple moving average is $148.20.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Monday, December 16th. Intercontinental Exchange’s payout ratio is currently 44.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ICE shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Piper Sandler boosted their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Bank of America lifted their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Barclays cut their target price on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $173.93.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,171 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $160.00, for a total transaction of $187,360.00. Following the completion of the sale, the chief accounting officer now owns 16,665 shares of the company’s stock, valued at approximately $2,666,400. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the transaction, the chief operating officer now owns 13,530 shares of the company’s stock, valued at approximately $2,202,819.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO James W. Namkung sold 1,171 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,665 shares of the company’s stock, valued at approximately $2,666,400. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,489 shares of company stock worth $1,202,259 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.