Analysts Set Intercontinental Exchange Inc (ICE) Price Target at $85.09

Intercontinental Exchange Inc (NYSE:ICE) has been given a consensus rating of “Buy” by the sixteen ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $85.09.

A number of equities analysts recently commented on the company. Bank of America set a $85.00 price objective on Intercontinental Exchange and gave the stock a “buy” rating in a report on Tuesday, April 9th. Zacks Investment Research downgraded Intercontinental Exchange from a “buy” rating to a “hold” rating in a report on Monday, January 14th. ValuEngine downgraded Intercontinental Exchange from a “buy” rating to a “hold” rating in a report on Friday, February 15th. Wells Fargo & Co increased their price objective on Intercontinental Exchange from $79.00 to $81.00 and gave the stock a “market perform” rating in a report on Thursday, April 4th. Finally, Citigroup upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and set a $75.63 price objective on the stock in a report on Tuesday, January 22nd.

Shares of NYSE ICE traded up $1.36 during mid-day trading on Monday, reaching $78.64. The company had a trading volume of 3,956,500 shares, compared to its average volume of 2,989,715. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $43.72 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 2.49 and a beta of 0.48. Intercontinental Exchange has a 12-month low of $67.70 and a 12-month high of $82.65.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, February 7th. The financial services provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the company posted $0.73 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. On average, analysts predict that Intercontinental Exchange will post 3.73 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.275 per share. The ex-dividend date is Friday, September 13th. This represents a $1.10 annualized dividend and a yield of 1.40%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 30.64%.

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,500 shares of the stock in a transaction that occurred on Monday, January 28th. The stock was sold at an average price of $75.42, for a total transaction of $188,550.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Scott A. Hill sold 26,933 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $73.32, for a total transaction of $1,974,727.56. Following the completion of the sale, the chief financial officer now owns 188,688 shares in the company, valued at approximately $13,834,604.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 218,627 shares of company stock worth $16,458,501. Corporate insiders own 1.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Intercontinental Exchange by 0.8% in the fourth quarter. BlackRock Inc. now owns 33,815,473 shares of the financial services provider’s stock worth $2,547,321,000 after acquiring an additional 267,793 shares during the last quarter. Capital World Investors grew its stake in shares of Intercontinental Exchange by 464.9% in the third quarter. Capital World Investors now owns 15,031,546 shares of the financial services provider’s stock worth $1,125,712,000 after acquiring an additional 12,370,546 shares during the last quarter. Northern Trust Corp grew its stake in shares of Intercontinental Exchange by 1.3% in the fourth quarter. Northern Trust Corp now owns 10,715,964 shares of the financial services provider’s stock worth $807,233,000 after acquiring an additional 137,414 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in shares of Intercontinental Exchange by 7.3% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 8,538,972 shares of the financial services provider’s stock worth $643,240,000 after acquiring an additional 579,012 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Intercontinental Exchange by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 6,607,483 shares of the financial services provider’s stock worth $496,763,000 after acquiring an additional 440,954 shares during the last quarter. Institutional investors and hedge funds own 90.54% of the company’s stock.

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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Analyst Recommendations for Intercontinental Exchange (NYSE:ICE)

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