Intercontinental Exchange, Inc. (NYSE:ICE) Expected to Post Quarterly Sales of $1.84 Billion

Equities research analysts expect Intercontinental Exchange, Inc. (NYSE:ICEGet Rating) to report sales of $1.84 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Intercontinental Exchange’s earnings, with the highest sales estimate coming in at $1.87 billion and the lowest estimate coming in at $1.80 billion. Intercontinental Exchange reported sales of $1.71 billion during the same quarter last year, which would suggest a positive year over year growth rate of 7.6%. The business is expected to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Intercontinental Exchange will report full-year sales of $7.47 billion for the current fiscal year, with estimates ranging from $7.41 billion to $7.52 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $7.80 billion, with estimates ranging from $7.62 billion to $8.06 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Intercontinental Exchange.

Intercontinental Exchange (NYSE:ICEGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Intercontinental Exchange had a net margin of 44.24% and a return on equity of 13.41%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.34 earnings per share.

A number of brokerages recently weighed in on ICE. Rosenblatt Securities dropped their target price on shares of Intercontinental Exchange from $157.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, April 14th. Citigroup dropped their target price on shares of Intercontinental Exchange from $160.00 to $152.00 in a research report on Wednesday, April 13th. Keefe, Bruyette & Woods lowered shares of Intercontinental Exchange from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $83.00 to $80.00 in a research report on Monday, May 9th. Raymond James lowered their price objective on shares of Intercontinental Exchange from $161.00 to $157.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 6th. Finally, StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday, May 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $140.09.

In other Intercontinental Exchange news, COO Mark Wassersug sold 11,000 shares of the firm’s stock in a transaction dated Monday, April 11th. The shares were sold at an average price of $128.53, for a total transaction of $1,413,830.00. Following the transaction, the chief operating officer now owns 27,229 shares of the company’s stock, valued at approximately $3,499,743.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lynn C. Martin sold 5,471 shares of the firm’s stock in a transaction dated Thursday, February 24th. The shares were sold at an average price of $120.95, for a total transaction of $661,717.45. The disclosure for this sale can be found here. Insiders sold a total of 76,075 shares of company stock worth $9,882,941 in the last ninety days. 1.30% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Intercontinental Exchange by 13.0% during the fourth quarter. BlackRock Inc. now owns 46,929,022 shares of the financial services provider’s stock worth $6,418,482,000 after purchasing an additional 5,408,445 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Intercontinental Exchange by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 44,599,297 shares of the financial services provider’s stock valued at $5,892,459,000 after acquiring an additional 1,100,806 shares during the period. State Street Corp increased its position in shares of Intercontinental Exchange by 3.3% in the 4th quarter. State Street Corp now owns 25,791,770 shares of the financial services provider’s stock valued at $3,527,540,000 after acquiring an additional 819,503 shares during the period. Morgan Stanley increased its position in shares of Intercontinental Exchange by 16.5% in the 3rd quarter. Morgan Stanley now owns 14,764,134 shares of the financial services provider’s stock valued at $1,695,218,000 after acquiring an additional 2,085,712 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Intercontinental Exchange by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 9,503,613 shares of the financial services provider’s stock valued at $1,296,309,000 after acquiring an additional 290,045 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE ICE opened at $97.62 on Monday. The firm has a fifty day moving average price of $119.76 and a 200-day moving average price of $126.81. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $54.50 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.87 and a beta of 0.88. Intercontinental Exchange has a 1 year low of $93.45 and a 1 year high of $139.79.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 15th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.56%. The ex-dividend date is Tuesday, June 14th. Intercontinental Exchange’s dividend payout ratio is presently 21.11%.

Intercontinental Exchange Company Profile (Get Rating)

Intercontinental Exchange, Inc, together with its subsidiaries, operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.

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Earnings History and Estimates for Intercontinental Exchange (NYSE:ICE)

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