Intercontinental Exchange (NYSE:ICE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, “Shares of Intercontinental Exchange have underperformed the industry in a year. Rising expenses, adverse foreign currency fluctuations and stricter regulations raise concerns. The company estimates 2019 adjusted operating expenses in the range of $2.15-$2.20 billion. Interest expenses are anticipated at $73 million for first-quarter 2019. A Zacks Rank #4 and Earnings EPS of –1.03% makes positive surprise prediction difficult. The company has seen its 2019 and 2020 estimates move down in the last seven days. Nonetheless, Intercontinental Exchange’s successful acquisitions, achievement of cost synergies and a reduced debt level well poise the company for long-term growth. Moreover, a consistent strength in its energy franchise, improving recurring market data revenues (2019 data revenues to grow in the band of $2.19-$2.24 billion) and ongoing initiatives are likely to keep growth on track.”

Several other equities research analysts have also issued reports on ICE. Goldman Sachs Group lowered Intercontinental Exchange from a “conviction-buy” rating to a “buy” rating in a research report on Friday, January 4th. Citigroup raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and set a $75.63 target price for the company in a research report on Tuesday, January 22nd. Wells Fargo & Co reaffirmed a “hold” rating on shares of Intercontinental Exchange in a research report on Thursday, February 7th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $85.50 target price on shares of Intercontinental Exchange in a research report on Monday, February 11th. Finally, ValuEngine lowered Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $85.59.

NYSE:ICE traded down $0.11 during trading hours on Wednesday, hitting $76.86. 1,391,484 shares of the company traded hands, compared to its average volume of 2,965,029. Intercontinental Exchange has a one year low of $67.70 and a one year high of $82.65. The stock has a market cap of $43.55 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 2.13 and a beta of 0.48. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.38.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 7th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.02. Intercontinental Exchange had a return on equity of 12.23% and a net margin of 31.68%. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the firm posted $0.73 EPS. The business’s revenue was up 14.1% compared to the same quarter last year. On average, sell-side analysts forecast that Intercontinental Exchange will post 3.81 earnings per share for the current fiscal year.

In related news, insider James W. Namkung sold 1,307 shares of Intercontinental Exchange stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $74.84, for a total value of $97,815.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 92,502 shares of Intercontinental Exchange stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $74.33, for a total value of $6,875,673.66. Following the completion of the sale, the chief executive officer now directly owns 1,553,471 shares of the company’s stock, valued at approximately $115,469,499.43. The disclosure for this sale can be found here. In the last three months, insiders sold 218,627 shares of company stock valued at $16,458,501. 1.50% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue grew its holdings in Intercontinental Exchange by 0.8% during the 1st quarter. State of Alaska Department of Revenue now owns 256,175 shares of the financial services provider’s stock valued at $19,503,000 after buying an additional 2,017 shares in the last quarter. Huntington National Bank grew its holdings in Intercontinental Exchange by 7.4% during the 1st quarter. Huntington National Bank now owns 3,232 shares of the financial services provider’s stock valued at $246,000 after buying an additional 224 shares in the last quarter. Beese Fulmer Investment Management Inc. grew its holdings in Intercontinental Exchange by 1.5% during the 1st quarter. Beese Fulmer Investment Management Inc. now owns 88,292 shares of the financial services provider’s stock valued at $6,723,000 after buying an additional 1,292 shares in the last quarter. EFG Asset Management Americas Corp. grew its holdings in Intercontinental Exchange by 8.6% during the 1st quarter. EFG Asset Management Americas Corp. now owns 76,394 shares of the financial services provider’s stock valued at $5,817,000 after buying an additional 6,056 shares in the last quarter. Finally, Tibra Equities Europe Ltd purchased a new position in Intercontinental Exchange during the 1st quarter valued at about $1,964,000. 90.54% of the stock is owned by institutional investors.

About Intercontinental Exchange

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.

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