Intercontinental Exchange (NYSE:ICE) Announces Quarterly Earnings Results, Meets Estimates

Intercontinental Exchange (NYSE:ICE) issued its quarterly earnings results on Thursday. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55, Briefing.com reports. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the company earned $1.46 EPS. Intercontinental Exchange’s revenue was up 17.3% on a year-over-year basis.

Intercontinental Exchange Stock Down 0.8 %

Shares of NYSE:ICE traded down $1.23 during trading on Friday, reaching $154.64. 4,510,319 shares of the company traded hands, compared to its average volume of 2,546,484. The firm has a fifty day simple moving average of $162.09 and a 200 day simple moving average of $148.03. The firm has a market cap of $88.79 billion, a P/E ratio of 38.51, a price-to-earnings-growth ratio of 2.51 and a beta of 1.08. Intercontinental Exchange has a 1-year low of $104.91 and a 1-year high of $167.99. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Monday, December 16th. Intercontinental Exchange’s payout ratio is presently 44.55%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ICE shares. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Citigroup lifted their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Piper Sandler raised their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Raymond James lowered Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective for the company. in a research note on Monday, October 14th. Finally, Barclays reduced their target price on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $173.93.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, Director Martha A. Tirinnanzi sold 509 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $158.98, for a total value of $80,920.82. Following the transaction, the director now directly owns 3,958 shares of the company’s stock, valued at $629,242.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Intercontinental Exchange news, Director Martha A. Tirinnanzi sold 509 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $158.98, for a total value of $80,920.82. Following the completion of the sale, the director now directly owns 3,958 shares in the company, valued at $629,242.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Warren Gardiner sold 750 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $161.43, for a total transaction of $121,072.50. Following the transaction, the chief financial officer now owns 16,576 shares in the company, valued at $2,675,863.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock valued at $1,202,259 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.