Intercontinental Exchange, Inc. (NYSE:ICE – Get Rating) – Zacks Research boosted their Q3 2023 earnings per share estimates for Intercontinental Exchange in a report issued on Wednesday, April 19th. Zacks Research analyst T. Dey now expects that the financial services provider will post earnings of $1.31 per share for the quarter, up from their prior forecast of $1.30. The consensus estimate for Intercontinental Exchange’s current full-year earnings is $5.46 per share. Zacks Research also issued estimates for Intercontinental Exchange’s Q4 2023 earnings at $1.28 EPS, Q3 2024 earnings at $1.39 EPS, Q4 2024 earnings at $1.44 EPS and FY2024 earnings at $5.50 EPS.
A number of other analysts have also commented on ICE. Raymond James boosted their target price on Intercontinental Exchange from $126.00 to $127.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 6th. Keefe, Bruyette & Woods cut their target price on Intercontinental Exchange from $125.00 to $122.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 1st. Morgan Stanley upped their price objective on Intercontinental Exchange from $120.00 to $123.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 11th. UBS Group increased their target price on Intercontinental Exchange from $119.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Finally, TheStreet raised shares of Intercontinental Exchange from a “c+” rating to a “b-” rating in a report on Wednesday, January 25th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.55.
Intercontinental Exchange Stock Up 0.5 %
Intercontinental Exchange (NYSE:ICE – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.01). Intercontinental Exchange had a net margin of 15.01% and a return on equity of 13.11%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the business posted $1.34 EPS. The company’s revenue for the quarter was down 3.9% on a year-over-year basis.
Intercontinental Exchange Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Friday, March 17th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Thursday, March 16th. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.38. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 65.37%.
Insider Transactions at Intercontinental Exchange
In related news, CEO Jeffrey C. Sprecher sold 81,827 shares of Intercontinental Exchange stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $104.02, for a total transaction of $8,511,644.54. Following the transaction, the chief executive officer now owns 1,203,104 shares in the company, valued at approximately $125,146,878.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $104.80, for a total value of $167,680.00. Following the sale, the senior vice president now directly owns 21,481 shares in the company, valued at approximately $2,251,208.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 81,827 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $104.02, for a total transaction of $8,511,644.54. Following the completion of the sale, the chief executive officer now owns 1,203,104 shares in the company, valued at $125,146,878.08. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
Institutional Investors Weigh In On Intercontinental Exchange
Several large investors have recently added to or reduced their stakes in ICE. GPS Wealth Strategies Group LLC purchased a new stake in Intercontinental Exchange during the first quarter valued at approximately $25,000. MADDEN SECURITIES Corp acquired a new position in Intercontinental Exchange during the 4th quarter valued at approximately $26,000. Red Tortoise LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter worth $26,000. OLD Mission Capital LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter worth $26,000. Finally, Cowa LLC acquired a new stake in shares of Intercontinental Exchange in the third quarter worth $27,000. 87.28% of the stock is owned by hedge funds and other institutional investors.
Intercontinental Exchange Company Profile
Intercontinental Exchange, Inc engages in the provision of market infrastructure, data services and technology solutions. It operates through the following segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology. The Exchanges segment includes trading and listing revenue from the global futures network, the New York Stock Exchange and other registered securities exchanges.
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