Intercontinental Exchange Inc. (NYSE:ICE) announced its earnings results on Thursday. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02, Bloomberg Earnings reports. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. Intercontinental Exchange had a return on equity of 11.01% and a net margin of 27.91%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $0.64 EPS.
Intercontinental Exchange (NYSE:ICE) traded down $2.46 during midday trading on Friday, hitting $66.24. The company had a trading volume of 7,180,000 shares, compared to its average volume of 3,370,000. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.99 and a current ratio of 1.01. Intercontinental Exchange has a 52-week low of $53.27 and a 52-week high of $71.24. The stock has a market capitalization of $38,750.00, a price-to-earnings ratio of 23.52, a P/E/G ratio of 2.50 and a beta of 0.68.
In related news, insider Charles A. Vice sold 12,500 shares of the firm’s stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $69.76, for a total value of $872,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott A. Hill sold 37,630 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $70.03, for a total transaction of $2,635,228.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,050 shares of company stock worth $9,557,830. Corporate insiders own 1.50% of the company’s stock.
Intercontinental Exchange declared that its board has initiated a share buyback program on Thursday, November 2nd that authorizes the company to buyback $1.20 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Several brokerages recently weighed in on ICE. Citigroup Inc initiated coverage on Intercontinental Exchange in a research note on Wednesday, July 12th. They issued a “neutral” rating and a $67.00 price target on the stock. Barclays PLC started coverage on Intercontinental Exchange in a report on Friday, September 8th. They issued an “overweight” rating and a $72.00 target price on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $73.00 target price on shares of Intercontinental Exchange in a report on Wednesday, August 23rd. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $73.00 target price on shares of Intercontinental Exchange in a research report on Sunday, October 8th. Finally, Zacks Investment Research lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $73.30.
About Intercontinental Exchange
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.
What are top analysts saying about Intercontinental Exchange Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Intercontinental Exchange Inc. and related companies.