What is Zacks Research’s Estimate for ICE FY2024 Earnings?

Intercontinental Exchange, Inc. (NYSE:ICE) – Stock analysts at Zacks Research lowered their FY2024 earnings per share estimates for Intercontinental Exchange in a research note issued to investors on Tuesday, January 28th. Zacks Research analyst T. De now expects that the financial services provider will earn $6.05 per share for the year, down from their prior forecast of $6.07. The consensus estimate for Intercontinental Exchange’s current full-year earnings is $6.05 per share. Zacks Research also issued estimates for Intercontinental Exchange’s Q4 2024 earnings at $1.50 EPS, Q2 2026 earnings at $1.74 EPS and Q4 2026 earnings at $1.94 EPS.

A number of other brokerages have also recently commented on ICE. JPMorgan Chase & Co. reduced their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Bank of America raised their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday, November 11th. Barclays decreased their target price on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, The Goldman Sachs Group lifted their target price on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $157.25 on Thursday. The stock has a 50-day moving average of $153.07 and a 200 day moving average of $156.32. Intercontinental Exchange has a twelve month low of $124.34 and a twelve month high of $167.99. The stock has a market capitalization of $90.29 billion, a price-to-earnings ratio of 37.26, a PEG ratio of 2.95 and a beta of 1.10. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. Intercontinental Exchange’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 EPS.

Insider Buying and Selling

In other Intercontinental Exchange news, CTO Mayur Kapani sold 5,661 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total value of $835,506.99. Following the sale, the chief technology officer now owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. The trade was a 7.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stuart Glen Williams sold 750 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the sale, the chief operating officer now directly owns 12,780 shares in the company, valued at $1,955,212.20. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,795 shares of company stock valued at $2,120,572 over the last quarter. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Several institutional investors have recently modified their holdings of ICE. Creative Planning raised its position in shares of Intercontinental Exchange by 8.8% during the 2nd quarter. Creative Planning now owns 54,262 shares of the financial services provider’s stock worth $7,428,000 after purchasing an additional 4,393 shares during the last quarter. EP Wealth Advisors LLC raised its position in shares of Intercontinental Exchange by 9.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 6,665 shares of the financial services provider’s stock worth $912,000 after purchasing an additional 559 shares during the last quarter. Advisory Alpha LLC raised its position in shares of Intercontinental Exchange by 35.4% during the 2nd quarter. Advisory Alpha LLC now owns 2,042 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 534 shares during the last quarter. Cetera Investment Advisers raised its holdings in Intercontinental Exchange by 3.2% in the 2nd quarter. Cetera Investment Advisers now owns 63,902 shares of the financial services provider’s stock valued at $8,748,000 after acquiring an additional 2,006 shares during the last quarter. Finally, New Century Financial Group LLC raised its holdings in Intercontinental Exchange by 38.6% in the 2nd quarter. New Century Financial Group LLC now owns 2,247 shares of the financial services provider’s stock valued at $308,000 after acquiring an additional 626 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

About Intercontinental Exchange

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.