Intercontinental Exchange, Inc. (NYSE: ICE) Receives Analysts’ Consensus “Buy” Recommendation
Intercontinental Exchange, Inc. (NYSE: ICE – Get Rating) received an average rating of “Buy” from the thirteen analysts who currently cover the company, MarketBeat reports. One equity research analyst rated the stock with a sell rating, three assigned a hold rating, two assigned a buy rating and two issued a strong buy rating on the company. The 12-month average target price among brokerages that have covered the stock over the past year is $140.18.
A number of analysts have weighed in on ICE shares recently. Argus reduced its target price on the Intercontinental Exchange from $148.00 to $138.00 in a Wednesday, June 1 research report. StockNews.com downgraded Intercontinental Exchange shares from a “hold” rating to a “sell” rating in a Friday, May 6 research rating. Jefferies Financial Group lowered its target price on Intercontinental Exchange shares from $161.00 to $134.00 in a Friday, May 20 research report. Morgan Stanley raised its price target on Intercontinental Exchange shares from $145.00 to $147.00 and gave the stock an “equal weight” rating in a Wednesday, April 13 research report. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on Intercontinental Exchange shares from $143.00 to $117.00 in a Thursday, May 19 research report.
ICE lost $1.72 during Friday trading hours, hitting $97.78. The company’s stock had a trading volume of 2,699,214 shares, compared to its average volume of 3,215,001. The company’s 50-day moving average is $109.65 and its 200-day moving average is of $123.35. The company has a market capitalization of $54.59 billion, a PE ratio of 13.58, a growth price-earnings ratio of 2.00 and a beta of 0.89. Intercontinental Exchange has a 52-week low of $93.45 and a 52-week high of $139.79. The company has a debt ratio of 0.55, a quick ratio of 1.01 and a current ratio of 1.01.
Intercontinental Exchange (NYSE:ICE – Get Rating) last announced its results on Thursday, May 5. The financial services provider reported earnings per share (EPS) of $1.43 for the quarter, beating analyst consensus estimates of $1.42 by $0.01. Intercontinental Exchange posted a net margin of 44.24% and a return on equity of 13.41%. The company posted revenue of $1.90 billion for the quarter, compared to analysts’ estimates of $1.90 billion. In the same quarter a year earlier, the company posted EPS of $1.34. The company’s revenues increased by 5.7% compared to the same quarter last year. Stock analysts expect Intercontinental Exchange to post earnings per share of 5.48 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30. Shareholders of record on Wednesday, June 15 will receive a dividend of $0.38 per share. The ex-date of this dividend is Tuesday, June 14. This represents a dividend of $1.52 on an annualized basis and a dividend yield of 1.55%. Intercontinental Exchange’s dividend payout ratio (DPR) is 21.11%.
In other news, COO Mark Wassersug sold 11,000 shares of the company in a trade on Monday, April 11. The shares were sold at an average price of $128.53, for a total value of $1,413,830.00. As a result of the sale, the COO now directly owns 27,229 shares of the company, valued at approximately $3,499,743.37. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Additionally, insider Christopher Scott Edmonds sold 492 Intercontinental Exchange shares in a trade on Thursday, May 19. The stock was sold at an average price of $93.61, for a total transaction of $46,056.12. Following the transaction, the insider now directly owns 14,119 shares of the company, valued at approximately $1,321,679.59. The disclosure of this sale can be found here. Insiders sold 97,296 shares of the company worth $9,951,320 during the last quarter. 1.30% of the shares are currently held by insiders of the company.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Intercontinental Exchange by 13.0% in the 4th quarter. BlackRock Inc. now owns 46,929,022 shares of the financial services provider valued at $6,418,482,000 after buying an additional 5,408,445 shares last quarter. Vanguard Group Inc. increased its position in Intercontinental Exchange shares by 2.5% during the first quarter. Vanguard Group Inc. now owns 44,599,297 shares of the financial services provider worth $5,892,459,000 after purchasing an additional 1,100,806 shares during the period. State Street Corp increased its holdings of Intercontinental Exchange shares by 3.3% in the fourth quarter. State Street Corp now owns 25,791,770 shares of the financial services provider worth $3,527,540,000 after buying an additional 819,503 shares last quarter. Morgan Stanley increased its position in the Intercontinental Exchange by 16.5% in the third quarter. Morgan Stanley now owns 14,764,134 shares of the financial services provider valued at $1,695,218,000 after purchasing an additional 2,085,712 shares during the period. Finally, Geode Capital Management LLC increased its stake in Intercontinental Exchange by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 9,503,613 shares of the financial services provider valued at $1,296,309,000 after purchasing an additional 290,045 shares last quarter. Hedge funds and other institutional investors own 87.36% of the company’s shares.
About intercontinental exchange (Get a rating)
Intercontinental Exchange, Inc, together with its subsidiaries, operates regulated exchanges, clearing houses and listing venues for the commodities, financials, fixed income and equity markets in the United States, United Kingdom, European Union, Singapore, Israel and Canada. . It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.
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