Intercontinental Exchange (ICE) Set to Announce Quarterly Earnings on Thursday

Intercontinental Exchange (NYSE:ICE) is set to release its earnings data before the market opens on Thursday, May 2nd. Analysts expect Intercontinental Exchange to post earnings of $1.47 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The company’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the business posted $1.25 earnings per share. On average, analysts expect Intercontinental Exchange to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $128.76 on Wednesday. The firm has a market cap of $73.73 billion, a PE ratio of 30.66, a price-to-earnings-growth ratio of 2.15 and a beta of 1.02. The firm’s fifty day moving average is $135.58 and its 200-day moving average is $125.65. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange has a 52 week low of $103.81 and a 52 week high of $140.43.

Intercontinental Exchange Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.45 dividend. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.80 annualized dividend and a yield of 1.40%. Intercontinental Exchange’s payout ratio is presently 42.86%.

Wall Street Analyst Weigh In

ICE has been the subject of several research analyst reports. UBS Group lifted their price target on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Piper Sandler boosted their price target on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. Rosenblatt Securities boosted their price target on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Raymond James boosted their price target on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Friday, January 5th. Finally, Citigroup boosted their target price on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus target price of $148.08.

Insider Buying and Selling at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the transaction, the general counsel now directly owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the transaction, the general counsel now owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO James W. Namkung sold 1,182 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $156,059.46. Following the transaction, the chief accounting officer now directly owns 16,396 shares in the company, valued at approximately $2,164,763.88. The disclosure for this sale can be found here. Insiders sold 157,832 shares of company stock valued at $21,499,127 in the last quarter. Company insiders own 1.10% of the company’s stock.

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.