Analysts expect Intercontinental Exchange Inc (NYSE:ICE) to post earnings of $0.88 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Intercontinental Exchange’s earnings, with estimates ranging from $0.84 to $0.94. Intercontinental Exchange posted earnings per share of $0.73 during the same quarter last year, which indicates a positive year over year growth rate of 20.5%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, February 6th.
According to Zacks, analysts expect that Intercontinental Exchange will report full-year earnings of $3.54 per share for the current fiscal year, with EPS estimates ranging from $3.49 to $3.59. For the next fiscal year, analysts forecast that the business will post earnings of $3.87 per share, with EPS estimates ranging from $3.77 to $4.10. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that cover Intercontinental Exchange.
Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Wednesday, October 31st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.05. Intercontinental Exchange had a net margin of 43.09% and a return on equity of 11.67%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the company earned $0.73 earnings per share. Intercontinental Exchange’s quarterly revenue was up 4.7% on a year-over-year basis.
Shares of NYSE ICE traded down $0.71 during midday trading on Friday, hitting $78.55. 2,590,231 shares of the company traded hands, compared to its average volume of 3,082,957. Intercontinental Exchange has a 12-month low of $66.92 and a 12-month high of $82.65. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $45.15 billion, a P/E ratio of 26.63, a P/E/G ratio of 2.27 and a beta of 0.50.
Intercontinental Exchange announced that its board has approved a stock repurchase program on Wednesday, October 31st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 4.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
In related news, Vice Chairman Charles A. Vice sold 35,000 shares of the business’s stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of $75.06, for a total transaction of $2,627,100.00. Following the sale, the insider now owns 416,412 shares of the company’s stock, valued at $31,255,884.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Johnathan H. Short sold 6,000 shares of the business’s stock in a transaction dated Wednesday, October 10th. The stock was sold at an average price of $75.73, for a total transaction of $454,380.00. The disclosure for this sale can be found here. Insiders have sold 145,166 shares of company stock worth $11,289,285 in the last three months. 1.50% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Royal London Asset Management Ltd. bought a new stake in Intercontinental Exchange during the second quarter worth about $17,795,000. Baird Financial Group Inc. lifted its stake in shares of Intercontinental Exchange by 11.2% in the second quarter. Baird Financial Group Inc. now owns 131,129 shares of the financial services provider’s stock worth $9,644,000 after buying an additional 13,229 shares in the last quarter. Stock Yards Bank & Trust Co. lifted its stake in shares of Intercontinental Exchange by 1.2% in the third quarter. Stock Yards Bank & Trust Co. now owns 186,409 shares of the financial services provider’s stock worth $13,960,000 after buying an additional 2,130 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Intercontinental Exchange by 135.7% in the third quarter. Steward Partners Investment Advisory LLC now owns 17,500 shares of the financial services provider’s stock worth $1,311,000 after buying an additional 10,075 shares in the last quarter. Finally, Clinton Group Inc. bought a new position in shares of Intercontinental Exchange in the third quarter worth approximately $4,917,000. 89.09% of the stock is currently owned by institutional investors and hedge funds.
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.
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