Intercontinental Exchange Inc. (NYSE:ICE) Plans $0.52 Quarterly Dividend

Intercontinental Exchange Inc. (NYSE:ICE) announced a quarterly dividend on Thursday, February 5th. Stockholders of record on Wednesday, September 16th will be paid 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 dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, September 16th.

Intercontinental Exchange has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 9 consecutive years. Intercontinental Exchange has a dividend payout ratio of 25.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Intercontinental Exchange to earn $7.52 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 25.5%.

Intercontinental Exchange Trading Up 1.9%

Shares of NYSE:ICE traded up $3.11 during mid-day trading on Thursday, reaching $167.96. The stock had a trading volume of 5,662,647 shares, compared to its average volume of 3,763,856. The firm has a 50 day simple moving average of $164.73 and a two-hundred day simple moving average of $166.58. Intercontinental Exchange has a twelve month low of $143.17 and a twelve month high of $189.35. The firm has a market cap of $95.77 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 1.97 and a beta of 1.02. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.52 earnings per share. On average, research analysts predict that Intercontinental Exchange will post 6.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. Piper Sandler restated an “overweight” rating and issued a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Morgan Stanley set a $180.00 price objective on Intercontinental Exchange and gave the company an “equal weight” rating in a report on Thursday, January 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. Finally, Wall Street Zen cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Saturday, January 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $193.50.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.