Zacks Research Has Negative Outlook for ICE FY2024 Earnings

Intercontinental Exchange, Inc. (NYSE:ICE) – Investment analysts at Zacks Research decreased their FY2024 earnings per share (EPS) estimates for Intercontinental Exchange in a report issued 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 prior forecast 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.

Several other research firms also recently weighed in on ICE. JPMorgan Chase & Co. reduced their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective for the company. in a research note on Monday, October 14th. Morgan Stanley increased their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, Barclays dropped their target price on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. One 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 company. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

Intercontinental Exchange Stock Up 0.2 %

ICE stock opened at $159.82 on Thursday. The firm’s fifty day moving average is $153.11 and its 200 day moving average is $156.35. The firm has a market cap of $91.77 billion, a PE ratio of 37.87, a P/E/G ratio of 3.01 and a beta of 1.10. Intercontinental Exchange has a one year low of $124.34 and a one year high of $167.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business’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 earnings per share.

Insider Activity

In related news, insider Christopher Scott Edmonds sold 601 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total value of $88,785.73. Following the completion of the transaction, the insider now directly owns 12,922 shares of the company’s stock, valued at $1,908,967.06. This represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Benjamin Jackson sold 5,828 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the transaction, the president now owns 156,163 shares in the company, valued at $24,986,080. This represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,795 shares of company stock worth $2,120,572. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Several large investors have recently bought and sold shares of the stock. Quintet Private Bank Europe S.A. boosted its holdings in shares of Intercontinental Exchange by 13.8% in the third quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 62 shares during the period. Raleigh Capital Management Inc. lifted its position in Intercontinental Exchange by 26.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 63 shares during the period. Integrated Advisors Network LLC increased its holdings in shares of Intercontinental Exchange by 4.0% in the third quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 66 shares during the period. Strategic Advisors LLC raised its stake in shares of Intercontinental Exchange by 5.1% during the fourth quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 66 shares during the last quarter. Finally, Commons Capital LLC lifted its holdings in shares of Intercontinental Exchange by 1.2% during the fourth quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock worth $886,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds 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.