Intercontinental Exchange (NYSE:ICE) Issues Quarterly Earnings Results

Intercontinental Exchange (NYSE:ICE) announced its quarterly earnings results on Thursday. The financial services provider reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01), Zacks reports. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%.

Intercontinental Exchange Trading Down 0.4 %

Shares of Intercontinental Exchange stock traded down $0.63 during trading on Friday, reaching $167.05. 1,404,174 shares of the company were exchanged, compared to its average volume of 3,077,947. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange has a twelve month low of $124.34 and a twelve month high of $169.75. The business has a 50-day moving average price of $153.23 and a 200-day moving average price of $156.81. The firm has a market capitalization of $95.91 billion, a price-to-earnings ratio of 39.58, a P/E/G ratio of 3.06 and a beta of 1.11.

Intercontinental Exchange Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.48 per share. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.15%. Intercontinental Exchange’s payout ratio is 42.65%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. UBS Group increased their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective for the company. in a research report on Monday, October 14th. Morgan Stanley lifted their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. reduced their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.13.

Insiders Place Their Bets

In other news, COO Stuart Glen Williams sold 750 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the transaction, the chief operating officer now directly owns 12,780 shares in the company, valued at approximately $1,955,212.20. This represents a 5.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 5,828 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the sale, the president now owns 156,163 shares of the company’s stock, valued at $24,986,080. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,795 shares of company stock worth $2,120,572. Corporate insiders own 1.10% of the company’s stock.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.