Zacks Research Issues Optimistic Estimate for ICE Earnings

Intercontinental Exchange, Inc. (NYSE:ICE) – Equities researchers at Zacks Research raised their Q3 2024 earnings per share estimates for shares of Intercontinental Exchange in a research report issued on Monday, October 28th. Zacks Research analyst T. De now forecasts 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 announced 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 company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm’s revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.43 EPS.

A number of other research analysts also recently issued reports on the company. TD Cowen initiated coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective for the company. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Citigroup upped their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Piper Sandler lifted their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus price target of $173.93.

Intercontinental Exchange Trading Down 0.1 %

Shares of NYSE:ICE opened at $166.53 on Wednesday. The stock has a 50 day moving average of $162.14 and a 200 day moving average of $147.98. The company has a market cap of $95.61 billion, a PE ratio of 41.22, a price-to-earnings-growth 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. Intercontinental Exchange has a 12-month low of $104.91 and a 12-month high of $167.99.

Insider Activity at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 750 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the sale, the chief financial officer now owns 16,576 shares in the company, valued at approximately $2,675,863.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CAO James W. Namkung sold 1,171 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total transaction of $187,360.00. Following the sale, the chief accounting officer now owns 16,665 shares in the company, valued at approximately $2,666,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 750 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the completion of the sale, the chief financial officer now owns 16,576 shares in the company, valued at approximately $2,675,863.68. The trade was a 0.00 % decrease in their position. 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.

Institutional Trading of Intercontinental Exchange

Hedge funds and other institutional investors have recently bought and sold shares of the business. New Millennium Group LLC purchased a new stake in Intercontinental Exchange in the second quarter worth $25,000. International Assets Investment Management LLC purchased a new stake in Intercontinental Exchange in the second quarter worth $25,000. Fairscale Capital LLC purchased a new stake in Intercontinental Exchange in the second quarter worth $25,000. Wolff Wiese Magana LLC increased its stake in Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 147 shares during the period. Finally, Redmont Wealth Advisors LLC purchased a new stake in Intercontinental Exchange in the first quarter worth $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.