Zacks: Brokerages Anticipate Intercontinental Exchange Inc (ICE) to Post $0.88 EPS
Brokerages predict that Intercontinental Exchange Inc (NYSE:ICE) will report $0.88 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have provided estimates for Intercontinental Exchange’s earnings, with estimates ranging from $0.84 to $0.94. Intercontinental Exchange reported earnings of $0.73 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 20.5%. The business is expected to report its next quarterly earnings report on Wednesday, February 6th.
According to Zacks, analysts expect that Intercontinental Exchange will report full year earnings of $3.53 per share for the current fiscal year, with EPS estimates ranging from $3.49 to $3.59. For the next fiscal year, analysts anticipate that the business will post earnings of $3.87 per share, with EPS estimates ranging from $3.77 to $4.10. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that cover Intercontinental Exchange.
Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Wednesday, October 31st. The financial services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Intercontinental Exchange had a return on equity of 11.67% and a net margin of 43.09%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.73 earnings per share.
ICE traded up $0.14 during midday trading on Friday, reaching $79.26. The company had a trading volume of 4,941,233 shares, compared to its average volume of 2,670,105. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The stock has a market cap of $45.07 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 2.27 and a beta of 0.50. Intercontinental Exchange has a 1 year low of $66.92 and a 1 year high of $82.65.
Intercontinental Exchange declared that its board has authorized a share repurchase program on Wednesday, October 31st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, insider David S. Goone sold 10,402 shares of the company’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $78.01, for a total value of $811,460.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Charles A. Vice sold 35,000 shares of the company’s stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $75.06, for a total value of $2,627,100.00. Following the completion of the transaction, the insider now directly owns 416,412 shares of the company’s stock, valued at approximately $31,255,884.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,166 shares of company stock valued at $8,498,035. Corporate insiders own 1.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ICE. Cornerstone Wealth Management LLC acquired a new stake in Intercontinental Exchange during the 2nd quarter worth about $653,000. Bessemer Group Inc. lifted its position in Intercontinental Exchange by 71.7% in the second quarter. Bessemer Group Inc. now owns 5,292 shares of the financial services provider’s stock valued at $390,000 after purchasing an additional 2,210 shares during the period. Dupont Capital Management Corp lifted its position in Intercontinental Exchange by 51.9% in the second quarter. Dupont Capital Management Corp now owns 6,406 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 2,190 shares during the period. Aperio Group LLC lifted its position in Intercontinental Exchange by 2.8% in the second quarter. Aperio Group LLC now owns 298,967 shares of the financial services provider’s stock valued at $21,989,000 after purchasing an additional 8,256 shares during the period. Finally, Commonwealth Equity Services LLC lifted its position in Intercontinental Exchange by 57.9% in the second quarter. Commonwealth Equity Services LLC now owns 12,685 shares of the financial services provider’s stock valued at $933,000 after purchasing an additional 4,651 shares during the period. 89.09% of the stock is owned by hedge funds and other institutional investors.
About Intercontinental Exchange
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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