Intercontinental Exchange (ICE) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Intercontinental Exchange (NYSE:ICE) posted its earnings results on Wednesday. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.01, Bloomberg Earnings reports. Intercontinental Exchange had a return on equity of 11.01% and a net margin of 27.91%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the company earned $0.71 EPS. Intercontinental Exchange’s revenue was up .5% on a year-over-year basis.

Shares of Intercontinental Exchange (NYSE ICE) opened at $70.72 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $42,279.84, a PE ratio of 24.75, a price-to-earnings-growth ratio of 2.49 and a beta of 0.66. Intercontinental Exchange has a 12-month low of $56.80 and a 12-month high of $76.14.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be given a $0.24 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 1.36%. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.20. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 29.09%.

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

Several equities analysts recently issued reports on the company. Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Wednesday, January 3rd. Berenberg Bank assumed coverage on Intercontinental Exchange in a research note on Thursday, January 25th. They set a “buy” rating and a $90.00 target price on the stock. Citigroup increased their target price on Intercontinental Exchange from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, October 19th. UBS Group increased their price target on Intercontinental Exchange from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Finally, Argus increased their price target on Intercontinental Exchange from $72.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $76.73.

Intercontinental Exchange announced that its board has initiated a share repurchase plan on Thursday, November 2nd that authorizes the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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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.

Earnings History for Intercontinental Exchange (NYSE:ICE)

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