Somewhat Positive News Coverage Somewhat Unlikely to Impact Intercontinental Exchange (ICE) Share Price
Media headlines about Intercontinental Exchange (NYSE:ICE) have been trending somewhat positive on Saturday, Accern Sentiment reports. The research group scores the sentiment of press coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Intercontinental Exchange earned a news sentiment score of 0.19 on Accern’s scale. Accern also assigned news coverage about the financial services provider an impact score of 47.6428259602139 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
Here are some of the news articles that may have effected Accern Sentiment Analysis’s analysis:
- Intercontinental Exchange Reports October Statistics | Business Wire – Business Wire (press release) (businesswire.com)
- Edited Transcript of ICE earnings conference call or presentation 2-Nov-17 12:30pm GMT (finance.yahoo.com)
- Intercontinental Exchange Inc. (ICE) Given New $77.00 Price Target at Citigroup Inc. (americanbankingnews.com)
- BRIEF-Intercontinental Exchange says total futures & options contract volume for Oct was 4.97 mln (feeds.reuters.com)
- Intercontinental Exchange (ICE) Q3 Earnings Beat Estimates – Nasdaq (nasdaq.com)
ICE has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $73.00 price objective on shares of Intercontinental Exchange in a research report on Sunday, October 8th. Jefferies Group LLC reaffirmed a “buy” rating and set a $73.00 target price on shares of Intercontinental Exchange in a research report on Wednesday, August 23rd. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research report on Tuesday, August 15th. Zacks Investment Research raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Thursday, July 13th. Finally, UBS Group AG (USA) raised their target price on shares of Intercontinental Exchange from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Intercontinental Exchange has an average rating of “Buy” and an average price target of $73.30.
Intercontinental Exchange (ICE) opened at $66.24 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 0.30. The firm has a market cap of $40.17 billion, a PE ratio of 23.52, a P/E/G ratio of 2.50 and a beta of 0.71.
Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data 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 firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the business posted $0.64 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. analysts anticipate that Intercontinental Exchange will post 2.94 EPS for the current fiscal year.
Intercontinental Exchange declared that its Board of Directors has approved a stock repurchase program on Thursday, November 2nd that authorizes the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
In related news, CEO Jeffrey C. Sprecher sold 80,420 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $65.24, for a total transaction of $5,246,600.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Charles A. Vice sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $64.32, for a total transaction of $804,000.00. Following the sale, the insider now directly owns 382,471 shares in the company, valued at $24,600,534.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 143,050 shares of company stock worth $9,557,830. Company insiders own 1.50% of the company’s stock.
About Intercontinental Exchange
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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