Intercontinental Exchange (NYSE:ICE) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Intercontinental Exchange (NYSE:ICE) announced its earnings results on Thursday. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03, Briefing.com reports. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the business earned $1.43 earnings per share. The company’s revenue was up 22.7% on a year-over-year basis.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock traded down $0.63 on Friday, reaching $150.37. The company’s stock had a trading volume of 941,766 shares, compared to its average volume of 2,422,806. The business’s fifty day moving average price is $140.83 and its 200 day moving average price is $136.23. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange has a twelve month low of $104.49 and a twelve month high of $153.28. The company has a market cap of $86.25 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 2.69 and a beta of 1.06.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.20%. Intercontinental Exchange’s payout ratio is 41.28%.

Wall Street Analyst Weigh In

ICE has been the subject of a number of research analyst reports. Bank of America cut their target price on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research report on Friday, April 19th. The Goldman Sachs Group upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their target price for the company from $143.00 to $167.00 in a research note on Monday, July 1st. Citigroup lifted their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Argus reissued a “buy” rating and issued a $153.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Intercontinental Exchange from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $155.00 to $152.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $153.29.

Insider Buying and Selling

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,267 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $134.57, for a total value of $305,070.19. Following the completion of the transaction, the director now directly owns 28,849 shares of the company’s stock, valued at $3,882,209.93. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of Intercontinental Exchange stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the sale, the general counsel now directly owns 46,815 shares in the company, valued at $6,397,737.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Judith A. Sprieser sold 2,267 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $134.57, for a total value of $305,070.19. Following the sale, the director now directly owns 28,849 shares of the company’s stock, valued at $3,882,209.93. The disclosure for this sale can be found here. Insiders have sold a total of 64,992 shares of company stock worth $9,197,801 in the last 90 days. Corporate insiders own 1.10% 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.