Intercontinental Exchange (NYSE:ICE) Issues Quarterly Earnings Results, Hits Estimates

Intercontinental Exchange (NYSE:ICE) issued its quarterly earnings data on Thursday. The financial services provider reported $1.48 earnings per share for the quarter, hitting the consensus estimate of $1.48, Briefing.com reports. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.41 earnings per share.

Intercontinental Exchange Stock Up 3.1 %

Shares of Intercontinental Exchange stock traded up $3.96 on Friday, reaching $130.50. The stock had a trading volume of 3,990,207 shares, compared to its average volume of 2,426,097. Intercontinental Exchange has a 1 year low of $103.81 and a 1 year high of $140.43. The company has a 50 day moving average price of $135.17 and a 200 day moving average price of $125.68. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $74.73 billion, a P/E ratio of 31.07, a P/E/G ratio of 2.11 and a beta of 1.02.

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Thursday, June 13th. Intercontinental Exchange’s dividend payout ratio is currently 42.86%.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the transaction, the general counsel now directly owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the transaction, the general counsel now owns 48,713 shares in the company, valued at $6,417,450.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 500 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $138.83, for a total transaction of $69,415.00. Following the completion of the transaction, the chief financial officer now directly owns 18,326 shares of the company’s stock, valued at approximately $2,544,198.58. The disclosure for this sale can be found here. Insiders sold 157,832 shares of company stock valued at $21,499,127 over the last 90 days. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Rosenblatt Securities restated a “buy” rating and set a $164.00 price target on shares of Intercontinental Exchange in a report on Friday. UBS Group upped their price target on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a report on Monday, February 12th. Piper Sandler increased their price objective on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Bank of America dropped their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Finally, StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $147.92.

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.