Zacks Research Issues Optimistic Estimate for ICE Earnings

Intercontinental Exchange, Inc. (NYSE:ICE) – Research analysts at Zacks Research boosted their Q3 2024 earnings estimates for shares of Intercontinental Exchange in a report released on Monday, October 28th. Zacks Research analyst T. De now anticipates that the financial services provider will post earnings of $1.50 per share for the quarter, up from their prior estimate of $1.48. The consensus estimate for Intercontinental Exchange’s current full-year earnings is $6.12 per share. Zacks Research also issued estimates for Intercontinental Exchange’s Q4 2024 earnings at $1.56 EPS, FY2024 earnings at $6.07 EPS, Q1 2025 earnings at $1.64 EPS, Q3 2025 earnings at $1.67 EPS, Q1 2026 earnings at $1.89 EPS, Q2 2026 earnings at $1.78 EPS and FY2026 earnings at $7.35 EPS.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.43 EPS.

A number of other research analysts have also recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research note on Friday, October 4th. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target on the stock. in a research report on Monday, October 14th. The Goldman Sachs Group raised their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Bank of America lifted their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $173.93.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $166.53 on Wednesday. Intercontinental Exchange has a 12 month low of $104.91 and a 12 month high of $167.99. The firm has a market capitalization of $95.61 billion, a P/E ratio of 41.22, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. The business has a fifty day simple moving average of $162.14 and a two-hundred day simple moving average of $147.98.

Insider Buying and Selling at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $98,011.62. Following the completion of the transaction, the insider now directly owns 14,034 shares of the company’s stock, valued at $2,284,875.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,171 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the transaction, the chief accounting officer now owns 16,665 shares of the company’s stock, valued at approximately $2,666,400. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the sale, the insider now owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,489 shares of company stock worth $1,202,259. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

A number of institutional investors and hedge funds have recently made changes to their positions in the business. New Millennium Group LLC bought a new position in Intercontinental Exchange in the second quarter worth approximately $25,000. International Assets Investment Management LLC bought a new position in Intercontinental Exchange in the 2nd quarter worth $25,000. Fairscale Capital LLC purchased a new position in Intercontinental Exchange during the second quarter valued at $25,000. Wolff Wiese Magana LLC grew its holdings in Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares during the period. Finally, Redmont Wealth Advisors LLC bought a new stake in Intercontinental Exchange during the first quarter valued at about $26,000. Hedge funds and other institutional investors own 89.30% 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.