Intercontinental Exchange Inc. (ICE) to Issue Quarterly Dividend of $0.52 on September 30th

Intercontinental Exchange Inc. (NYSE:ICE) declared a quarterly dividend on Thursday, February 5th. Investors of record on Wednesday, September 16th will be given a dividend of 0.52 per share by the financial services provider on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, September 16th.

Intercontinental Exchange has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 9 consecutive years. Intercontinental Exchange has a dividend payout ratio of 27.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Intercontinental Exchange to earn $8.78 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 23.7%.

Intercontinental Exchange Price Performance

ICE stock opened at $157.49 on Monday. Intercontinental Exchange has a 1 year low of $121.79 and a 1 year high of $176.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50 day simple moving average of $151.14 and a 200-day simple moving average of $151.74. The firm has a market capitalization of $88.41 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 1.53 and a beta of 0.93.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.06. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. Intercontinental Exchange’s revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.81 earnings per share. Equities research analysts anticipate that Intercontinental Exchange will post 8.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ICE shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $178.00 price target on shares of Intercontinental Exchange in a report on Friday, July 31st. Wall Street Zen cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, September 5th. The Goldman Sachs Group reduced their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. UBS Group reaffirmed a “buy” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, Piper Sandler lowered their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.17.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc (NYSE: ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces for trading and clearing a range of financial and commodity products, including energy, agricultural commodities, interest rates, credit and equities.

ICE owns and operates the New York Stock Exchange and related equity markets, as well as futures and options exchanges in North America and Europe. Its businesses also include ICE Data Services, which provides market data, analytics, connectivity and other information services to financial institutions and corporations.

Through ICE Mortgage Technology, the company offers software and digital platforms designed to support residential mortgage origination, processing, servicing and related workflows.