Intercontinental Exchange Inc (ICE) Receives Consensus Rating of “Buy” from Brokerages

Shares of Intercontinental Exchange Inc (NYSE:ICE) have received an average rating of “Buy” from the sixteen ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $85.09.

Several equities research analysts have commented on ICE shares. Zacks Investment Research lowered shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a research note on Monday, January 14th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $85.50 price target on shares of Intercontinental Exchange in a research note on Monday, February 11th. Deutsche Bank dropped their price target on shares of Intercontinental Exchange from $84.00 to $83.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Wells Fargo & Co restated a “hold” rating on shares of Intercontinental Exchange in a research note on Thursday, February 7th. Finally, ValuEngine lowered shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a research note on Friday, February 15th.

In other news, Vice Chairman Charles A. Vice sold 25,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $77.32, for a total value of $1,933,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 1,200 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $81.00, for a total transaction of $97,200.00. Following the completion of the transaction, the general counsel now owns 41,161 shares of the company’s stock, valued at $3,334,041. The disclosure for this sale can be found here. Insiders sold 214,002 shares of company stock valued at $16,210,485 over the last quarter. Insiders own 1.50% of the company’s stock.

Large investors have recently modified their holdings of the stock. Intercontinental Wealth Advisors LLC acquired a new position in Intercontinental Exchange in the 4th quarter worth approximately $25,000. Gradient Investments LLC boosted its stake in Intercontinental Exchange by 432.8% in the 4th quarter. Gradient Investments LLC now owns 357 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 290 shares during the period. Ruggie Capital Group acquired a new position in Intercontinental Exchange in the 4th quarter worth approximately $29,000. Moody National Bank Trust Division acquired a new position in Intercontinental Exchange in the 4th quarter worth approximately $30,000. Finally, Sontag Advisory LLC acquired a new position in Intercontinental Exchange in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

ICE traded up $0.39 on Friday, hitting $80.41. 1,894,188 shares of the company’s stock were exchanged, compared to its average volume of 2,914,278. The firm has a market cap of $45.08 billion, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 2.57 and a beta of 0.50. Intercontinental Exchange has a twelve month low of $69.33 and a twelve month high of $82.65. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.40.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. Intercontinental Exchange had a net margin of 31.98% and a return on equity of 12.22%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the business earned $0.90 earnings per share. Intercontinental Exchange’s revenue was up 3.7% compared to the same quarter last year. Research analysts anticipate that Intercontinental Exchange will post 3.73 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Friday, September 13th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 30.64%.

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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