Intercontinental Exchange Inc (NYSE:ICE) – Analysts at Jefferies Financial Group decreased their Q1 2019 earnings per share (EPS) estimates for Intercontinental Exchange in a report issued on Wednesday, January 9th. Jefferies Financial Group analyst D. Fannon now expects that the financial services provider will post earnings of $0.95 per share for the quarter, down from their previous estimate of $0.96. Jefferies Financial Group also issued estimates for Intercontinental Exchange’s Q2 2019 earnings at $0.92 EPS and Q4 2019 earnings at $1.00 EPS.
Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Wednesday, October 31st. The financial services provider reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.05. Intercontinental Exchange had a return on equity of 11.67% and a net margin of 43.09%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the company earned $0.73 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis.
A number of other equities analysts have also recently issued reports on ICE. Zacks Investment Research raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. Berenberg Bank set a $92.00 target price on Intercontinental Exchange and gave the stock a “buy” rating in a report on Thursday, September 20th. Deutsche Bank increased their target price on Intercontinental Exchange from $82.00 to $83.00 and gave the stock a “buy” rating in a report on Thursday, September 27th. ValuEngine cut Intercontinental Exchange from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $91.00 target price on shares of Intercontinental Exchange in a report on Friday, October 12th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Intercontinental Exchange presently has an average rating of “Buy” and a consensus price target of $84.50.
Shares of ICE stock opened at $73.10 on Friday. Intercontinental Exchange has a 12 month low of $66.92 and a 12 month high of $82.65. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $41.26 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 1.90 and a beta of 0.55.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its stake in shares of Intercontinental Exchange by 135.7% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 17,500 shares of the financial services provider’s stock valued at $1,311,000 after buying an additional 10,075 shares during the period. Stock Yards Bank & Trust Co. boosted its position in shares of Intercontinental Exchange by 1.2% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 186,409 shares of the financial services provider’s stock worth $13,960,000 after purchasing an additional 2,130 shares during the last quarter. Royal London Asset Management Ltd. bought a new position in shares of Intercontinental Exchange in the 2nd quarter worth $17,795,000. Clinton Group Inc. bought a new position in shares of Intercontinental Exchange in the 3rd quarter worth $4,917,000. Finally, Colony Group LLC boosted its position in shares of Intercontinental Exchange by 19.4% in the 2nd quarter. Colony Group LLC now owns 4,221 shares of the financial services provider’s stock worth $310,000 after purchasing an additional 686 shares during the last quarter. 88.91% of the stock is owned by institutional investors.
In other news, Vice Chairman Charles A. Vice sold 35,000 shares of Intercontinental Exchange stock in a transaction on Friday, January 4th. The stock was sold at an average price of $75.26, for a total value of $2,634,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mark Wassersug sold 7,903 shares of Intercontinental Exchange stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $79.13, for a total value of $625,364.39. Following the completion of the sale, the chief operating officer now directly owns 36,982 shares of the company’s stock, valued at $2,926,385.66. The disclosure for this sale can be found here. Insiders sold a total of 118,006 shares of company stock valued at $9,193,322 over the last three months. Insiders own 1.50% of the company’s stock.
Intercontinental Exchange declared that its board has initiated a stock buyback program on Wednesday, October 31st that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
About Intercontinental Exchange
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.
Further Reading: Liquidity
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