Intercontinental Exchange Inc (NYSE:ICE) – Research analysts at Jefferies Financial Group lowered their Q2 2020 earnings per share estimates for Intercontinental Exchange in a note issued to investors on Wednesday, July 10th. Jefferies Financial Group analyst D. Fannon now forecasts that the financial services provider will post earnings of $1.04 per share for the quarter, down from their previous estimate of $1.06. Jefferies Financial Group also issued estimates for Intercontinental Exchange’s FY2020 earnings at $4.14 EPS.
Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.02. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. Intercontinental Exchange had a return on equity of 12.22% and a net margin of 31.98%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.90 EPS.
Several other equities analysts have also recently weighed in on the company. Raymond James lifted their price objective on Intercontinental Exchange from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Friday, July 5th. Wells Fargo & Co restated a “buy” rating and set a $36.00 target price on shares of Brookfield Renewable Partners in a report on Thursday, April 4th. Bank of America set a $180.00 price target on shares of CME Group and gave the company a “hold” rating in a research note on Tuesday, April 9th. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a report on Monday, May 13th. Finally, Zacks Investment Research upgraded shares of Green Brick Partners from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $86.26.
Intercontinental Exchange stock opened at $91.55 on Friday. The firm has a market cap of $51.62 billion, a price-to-earnings ratio of 25.50, a P/E/G ratio of 2.96 and a beta of 0.49. Intercontinental Exchange has a 1 year low of $69.69 and a 1 year high of $91.77. The stock’s 50-day moving average is $85.60. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.01 and a quick ratio of 1.01.
In other news, Vice Chairman Charles A. Vice sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $80.38, for a total transaction of $1,607,600.00. Following the sale, the insider now owns 426,771 shares in the company, valued at approximately $34,303,852.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Scott A. Hill sold 33,875 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $90.06, for a total value of $3,050,782.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 187,221 shares of company stock valued at $15,723,292. Insiders own 1.50% of the company’s stock.
Several institutional investors have recently made changes to their positions in ICE. Carroll Financial Associates Inc. raised its stake in shares of Intercontinental Exchange by 51.3% during the 2nd quarter. Carroll Financial Associates Inc. now owns 360 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 122 shares in the last quarter. Sontag Advisory LLC bought a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $34,000. Arlington Partners LLC bought a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $34,000. Pittenger & Anderson Inc. bought a new stake in shares of Intercontinental Exchange during the 1st quarter worth approximately $44,000. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Intercontinental Exchange during the 1st quarter worth approximately $69,000. Institutional investors own 88.97% 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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