Intercontinental Exchange (NYSE:ICE) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Intercontinental Exchange (NYSE:ICE) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

A number of other brokerages have also issued reports on ICE. Bank of America cut their price objective on shares of Intercontinental Exchange from $156.00 to $153.00 and set a buy rating for the company in a report on Friday, April 19th. Deutsche Bank Aktiengesellschaft lowered shares of Intercontinental Exchange from a buy rating to a hold rating and cut their price objective for the company from $155.00 to $152.00 in a report on Friday, August 2nd. Citigroup raised their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a buy rating in a report on Tuesday, July 9th. Argus reissued a buy rating and issued a $153.00 target price on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Finally, The Goldman Sachs Group raised shares of Intercontinental Exchange from a neutral rating to a buy rating and raised their target price for the company from $143.00 to $167.00 in a report on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $154.93.

Intercontinental Exchange Trading Down 0.4 %

Shares of ICE opened at $155.50 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 1.01. Intercontinental Exchange has a 1 year low of $104.49 and a 1 year high of $157.18. The company has a 50 day simple moving average of $144.51 and a two-hundred day simple moving average of $138.04. The firm has a market cap of $89.19 billion, a P/E ratio of 35.67, a price-to-earnings-growth ratio of 2.68 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the firm posted $1.43 EPS. The company’s revenue was up 22.7% on a year-over-year basis. On average, equities analysts expect that Intercontinental Exchange will post 6 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.16%. Intercontinental Exchange’s dividend payout ratio (DPR) is 41.28%.

Insider Transactions at Intercontinental Exchange

In other news, CAO James W. Namkung sold 1,043 shares of Intercontinental Exchange stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the sale, the chief accounting officer now directly owns 17,836 shares in the company, valued at $2,675,400. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO James W. Namkung sold 1,043 shares of Intercontinental Exchange stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the sale, the chief accounting officer now directly owns 17,836 shares in the company, valued at $2,675,400. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 395 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $141.13, for a total value of $55,746.35. Following the transaction, the chief technology officer now owns 64,471 shares in the company, valued at approximately $9,098,792.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,992 shares of company stock worth $9,197,801. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Large investors have recently modified their holdings of the business. Fairscale Capital LLC purchased a new stake in shares of Intercontinental Exchange during the second quarter worth about $25,000. Annapolis Financial Services LLC lifted its holdings in shares of Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 163 shares during the period. New Millennium Group LLC acquired a new stake in shares of Intercontinental Exchange during the second quarter worth about $25,000. International Assets Investment Management LLC acquired a new stake in shares of Intercontinental Exchange during the second quarter worth about $25,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Intercontinental Exchange during the first quarter worth about $26,000. Hedge funds and other institutional investors own 89.30% 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.