Zacks: Analysts Anticipate Intercontinental Exchange Inc (ICE) Will Post Earnings of $0.73 Per Share

Equities research analysts expect that Intercontinental Exchange Inc (NYSE:ICE) will report $0.73 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Intercontinental Exchange’s earnings, with estimates ranging from $0.72 to $0.74. Intercontinental Exchange reported earnings per share of $0.71 during the same quarter last year, which suggests a positive year over year growth rate of 2.8%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, February 6th.

According to Zacks, analysts expect that Intercontinental Exchange will report full year earnings of $2.95 per share for the current year, with EPS estimates ranging from $2.94 to $2.96. For the next year, analysts anticipate that the firm will report earnings of $3.37 per share, with EPS estimates ranging from $3.24 to $3.57. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Intercontinental Exchange.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. Intercontinental Exchange had a net margin of 27.91% and a return on equity of 11.01%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the company posted $0.64 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year.

ICE has been the topic of several research reports. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $73.00 price objective on shares of Intercontinental Exchange in a research note on Sunday, October 8th. UBS increased their price objective on shares of Intercontinental Exchange from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Jefferies Group reiterated a “buy” rating and set a $73.00 price objective on shares of Intercontinental Exchange in a research note on Wednesday, August 23rd. Royal Bank of Canada reiterated a “buy” rating on shares of Intercontinental Exchange in a research note on Tuesday, August 15th. Finally, Zacks Investment Research upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Intercontinental Exchange has a consensus rating of “Buy” and an average price target of $73.30.

In other news, insider Charles A. Vice sold 12,500 shares of the stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $69.76, for a total value of $872,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Charles A. Vice sold 7,500 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $71.93, for a total transaction of $539,475.00. Following the completion of the transaction, the insider now owns 377,471 shares of the company’s stock, valued at $27,151,489.03. The disclosure for this sale can be found here. Insiders sold 78,130 shares of company stock valued at $5,468,644 over the last quarter. Insiders own 1.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. IHT Wealth Management LLC boosted its stake in Intercontinental Exchange by 10.8% in the 2nd quarter. IHT Wealth Management LLC now owns 185 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 18 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in Intercontinental Exchange by 0.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 8,483 shares of the financial services provider’s stock worth $559,000 after purchasing an additional 29 shares during the period. Thompson Davis & CO. Inc. boosted its stake in Intercontinental Exchange by 2.2% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,517 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 32 shares during the period. Aspen Investment Management Inc boosted its stake in Intercontinental Exchange by 0.6% in the 2nd quarter. Aspen Investment Management Inc now owns 8,820 shares of the financial services provider’s stock worth $581,000 after purchasing an additional 50 shares during the period. Finally, Jump Trading LLC boosted its stake in Intercontinental Exchange by 0.4% in the 2nd quarter. Jump Trading LLC now owns 15,248 shares of the financial services provider’s stock worth $1,005,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 90.83% of the company’s stock.

Intercontinental Exchange (NYSE:ICE) traded up $0.39 on Friday, reaching $71.20. 2,129,200 shares of the company traded hands, compared to its average volume of 2,664,508. The firm has a market capitalization of $41,425.70, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 2.62 and a beta of 0.73. Intercontinental Exchange has a 52-week low of $55.79 and a 52-week high of $72.99. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.

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

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Intercontinental Exchange Company Profile

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.

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Earnings History and Estimates for Intercontinental Exchange (NYSE:ICE)

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