Intercontinental Exchange Inc. (ICE) to Post Q1 2017 Earnings of $0.75 Per Share, CLSA Forecasts

Intercontinental Exchange Inc. (NYSE:ICE) – Investment analysts at CLSA upped their Q1 2017 earnings estimates for Intercontinental Exchange in a report released on Tuesday. CLSA analyst R. Rutschow now forecasts that the firm will post earnings of $0.75 per share for the quarter, up from their prior forecast of $0.73.

A number of other equities analysts have also recently commented on ICE. Evercore ISI reaffirmed a “buy” rating and issued a $63.00 target price on shares of Intercontinental Exchange in a report on Saturday, December 17th. Jefferies Group LLC raised their target price on Intercontinental Exchange from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, December 20th. Finally, Zacks Investment Research raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Thursday, October 27th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $60.27.

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

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Shares of Intercontinental Exchange (NYSE:ICE) opened at 57.65 on Thursday. Intercontinental Exchange has a 52 week low of $45.44 and a 52 week high of $60.54. The company has a market cap of $6.63 billion, a price-to-earnings ratio of 24.32 and a beta of 0.96. The firm’s 50-day moving average price is $57.40 and its 200 day moving average price is $55.84.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Tuesday, February 7th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.02. Intercontinental Exchange had a return on equity of 10.79% and a net margin of 23.87%. The firm earned $1.10 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the company posted $3.27 earnings per share. The company’s revenue was up 30.1% compared to the same quarter last year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be given a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.80 annualized dividend and a yield of 1.39%. Intercontinental Exchange’s dividend payout ratio is currently 28.64%.

In related news, insider Charles A. Vice sold 5,000 shares of Intercontinental Exchange stock in a transaction dated Thursday, January 5th. The stock was sold at an average price of $57.08, for a total value of $285,400.00. Following the completion of the transaction, the insider now owns 304,915 shares in the company, valued at $17,404,548.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jean Marc Forneri sold 2,000 shares of Intercontinental Exchange stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $60.00, for a total value of $120,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,575 shares of company stock valued at $2,349,625. 1.40% of the stock is currently owned by company insiders.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ICE. Elkfork Partners LLC bought a new position in Intercontinental Exchange during the fourth quarter valued at approximately $19,208,000. Trexquant Investment LP raised its position in Intercontinental Exchange by 883.7% in the fourth quarter. Trexquant Investment LP now owns 42,300 shares of the company’s stock valued at $2,387,000 after buying an additional 38,000 shares in the last quarter. SSI Investment Management Inc. raised its position in Intercontinental Exchange by 388.2% in the fourth quarter. SSI Investment Management Inc. now owns 5,551 shares of the company’s stock valued at $314,000 after buying an additional 4,414 shares in the last quarter. Keybank National Association OH raised its position in Intercontinental Exchange by 394.4% in the fourth quarter. Keybank National Association OH now owns 534,125 shares of the company’s stock valued at $30,135,000 after buying an additional 426,084 shares in the last quarter. Finally, FIL Ltd raised its position in Intercontinental Exchange by 464.6% in the fourth quarter. FIL Ltd now owns 2,947,216 shares of the company’s stock valued at $166,282,000 after buying an additional 2,425,251 shares in the last quarter. Institutional investors own 20.79% of the company’s stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

5 Day Chart for NYSE:ICE

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