Zacks Research Has Bearish Forecast for ICE FY2024 Earnings

Intercontinental Exchange, Inc. (NYSE:ICE) – Investment analysts at Zacks Research decreased their FY2024 earnings per share estimates for shares of Intercontinental Exchange in a research note issued to investors on Tuesday, January 28th. Zacks Research analyst T. De now anticipates that the financial services provider will earn $6.05 per share for the year, down from their previous estimate of $6.07. The consensus estimate for Intercontinental Exchange’s current full-year earnings is $6.05 per share. Zacks Research also issued estimates for Intercontinental Exchange’s Q4 2024 earnings at $1.50 EPS, Q2 2026 earnings at $1.74 EPS and Q4 2026 earnings at $1.94 EPS.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. Intercontinental Exchange’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 EPS.

Other equities analysts have also issued research reports about the stock. Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective on the stock. in a report on Monday, October 14th. JPMorgan Chase & Co. reduced their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Barclays reduced their target price on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, The Goldman Sachs Group upped their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $175.27.

Intercontinental Exchange Trading Up 1.4 %

NYSE ICE opened at $159.45 on Thursday. The company’s fifty day simple moving average is $153.10 and its 200-day simple moving average is $156.33. The stock has a market cap of $91.55 billion, a P/E ratio of 37.78, a PEG ratio of 2.95 and a beta of 1.10. Intercontinental Exchange has a 52 week low of $124.34 and a 52 week high of $167.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ICE. TigerOak Management L.L.C. purchased a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $1,129,000. Manchester Capital Management LLC boosted its position in Intercontinental Exchange by 16.1% during the 4th quarter. Manchester Capital Management LLC now owns 2,775 shares of the financial services provider’s stock worth $414,000 after acquiring an additional 384 shares during the period. Center for Financial Planning Inc. grew its stake in Intercontinental Exchange by 12.6% during the 4th quarter. Center for Financial Planning Inc. now owns 2,802 shares of the financial services provider’s stock valued at $417,000 after acquiring an additional 314 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Intercontinental Exchange by 2.0% in the 4th quarter. Valeo Financial Advisors LLC now owns 6,821 shares of the financial services provider’s stock valued at $1,016,000 after purchasing an additional 137 shares during the period. Finally, V Square Quantitative Management LLC increased its holdings in shares of Intercontinental Exchange by 9.4% in the 4th quarter. V Square Quantitative Management LLC now owns 10,437 shares of the financial services provider’s stock valued at $1,555,000 after purchasing an additional 899 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 601 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total value of $88,785.73. Following the sale, the insider now directly owns 12,922 shares in the company, valued at approximately $1,908,967.06. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the sale, the president now owns 156,163 shares in the company, 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. Insiders have sold a total of 13,795 shares of company stock worth $2,120,572 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

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.