Wall Street analysts predict that Intercontinental Exchange Inc (NYSE:ICE) will post sales of $1.25 billion for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Intercontinental Exchange’s earnings, with the lowest sales estimate coming in at $1.24 billion and the highest estimate coming in at $1.28 billion. Intercontinental Exchange posted sales of $1.14 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.6%. The firm is scheduled to issue its next earnings results on Wednesday, February 6th.

On average, analysts expect that Intercontinental Exchange will report full year sales of $4.92 billion for the current year, with estimates ranging from $4.90 billion to $4.95 billion. For the next year, analysts forecast that the company will report sales of $5.24 billion, with estimates ranging from $5.17 billion to $5.29 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Intercontinental Exchange.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Wednesday, October 31st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.05. Intercontinental Exchange had a return on equity of 11.67% and a net margin of 43.09%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the firm earned $0.73 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year.

ICE has been the topic of several research analyst reports. ValuEngine raised Intercontinental Exchange from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Zacks Investment Research cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. FIX initiated coverage on Intercontinental Exchange in a research note on Wednesday, September 5th. They set a “buy” rating and a $88.00 target price on the stock. Wells Fargo & Co boosted their target price on Intercontinental Exchange from $80.00 to $81.00 and gave the company a “market perform” rating in a research note on Thursday, November 1st. Finally, Barclays boosted their target price on Intercontinental Exchange from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, November 1st. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Intercontinental Exchange has a consensus rating of “Buy” and an average target price of $84.29.

In related news, President Benjamin Jackson sold 2,860 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $77.88, for a total transaction of $222,736.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Scott A. Hill sold 70,659 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $76.56, for a total value of $5,409,653.04. Following the sale, the chief financial officer now owns 231,782 shares in the company, valued at $17,745,229.92. The disclosure for this sale can be found here. Insiders have sold 288,819 shares of company stock worth $21,896,765 over the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kaizen Advisory LLC boosted its holdings in Intercontinental Exchange by 143.4% in the second quarter. Kaizen Advisory LLC now owns 1,356 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 799 shares in the last quarter. Quad Cities Investment Group LLC bought a new stake in Intercontinental Exchange in the second quarter worth $104,000. Sun Life Financial INC boosted its holdings in Intercontinental Exchange by 717.7% in the second quarter. Sun Life Financial INC now owns 1,570 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 1,378 shares in the last quarter. Townsend & Associates Inc boosted its holdings in Intercontinental Exchange by 894.0% in the second quarter. Townsend & Associates Inc now owns 1,650 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 1,484 shares in the last quarter. Finally, LeJeune Puetz Investment Counsel LLC bought a new stake in Intercontinental Exchange in the second quarter worth $165,000. Institutional investors own 89.31% of the company’s stock.

Shares of ICE traded up $1.39 during mid-day trading on Friday, hitting $80.19. 2,931,815 shares of the company’s stock traded hands, compared to its average volume of 2,614,282. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange has a 1 year low of $65.97 and a 1 year high of $80.22. The stock has a market capitalization of $44.37 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 2.25 and a beta of 0.53.

Intercontinental Exchange announced that its board has authorized a stock buyback plan on Wednesday, October 31st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 4.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.

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Earnings History and Estimates for Intercontinental Exchange (NYSE:ICE)

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