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Intercontinental Exchange (NYSE: ICE) Wells Fargo & Co raised its target price from $ 80.00 to $ 81.00 in a research note published Thursday morning. The brokerage company currently has a market rating on the title of the financial service provider.
Several other research badysts have also published stock reports. JPMorgan Chase & Co. reaffirmed its overweight position and posted a target price of $ 91.00 on the shares of Intercontinental Exchange in a research note on Friday, October 12. They noted that the move was a call for evaluation. FIX began hedging Intercontinental Exchange shares in a research note on Wednesday, September 5th. They issued a purchase note and a price target of $ 88.00. Zacks Investment Research lowered the shares of Intercontinental Exchange from a research note to a sales note in a research note on Thursday, September 6. Rosenblatt Securities began hedging the shares of Intercontinental Exchange in a research note on Wednesday, September 5th. They issued a purchase note and a price target of $ 88.00. Finally, Berenberg Bank set a target price of $ 92.00 on the shares of Intercontinental Exchange and awarded the company a purchase note in a research note Thursday, September 20. Three investment badysts badigned a security grade and twelve awarded a purchase note. The stock currently has an average purchase score and an average price target of $ 84.07.
NYSE: ICE shares opened at $ 77.66 on Thursday. Intercontinental Exchange has a minimum of 12 months of $ 65.28 and a 12-month high of $ 78.48. The company has a debt-to-equity ratio of 0.38, a fast ratio of 1.00 and a current ratio of 1.00. The market capitalization of the stock is 43.81 billion dollars, its price / earnings ratio of 26.33, its P / E / G ratio of 2.23 and its beta of 0.53.
Intercontinental Exchange (NYSE: ICE) released its financial results on Wednesday, October 31. The financial services provider reported earnings per share (EPS) of $ 0.85 for the quarter, exceeding the consensus estimate of $ 0.80. The company generated $ 1.20 billion in sales for the quarter, compared to badysts' estimates of $ 1.19 billion. Intercontinental Exchange achieved a net margin of 43.09% and a return on equity of 11.67%. The company's revenue for the quarter increased 4.7% year-on-year. In the same quarter of last year, the company realized EPS of $ 0.73. Analysts expect Intercontinental Exchange to release 3.5 earnings per share for the current fiscal year.
Intercontinental Exchange said its board had approved a share buyback program on Wednesday, October 31, authorizing the company to buy back $ 2.00 billion of stock. This redemption authorization authorizes the financial services provider to purchase up to 4.8% of its shares through open market purchases. Share repurchase programs generally indicate that the board of directors of the corporation believes that its shares are undervalued.
In addition, Vice Chairman Charles A. Vice sold 35,000 shares of Intercontinental Exchange in a transaction on Wednesday, September 5. The security was sold at an average price of $ 77.09, for a total transaction of $ 2,698,150.00. As a result of the sale, the insider now holds 419,907 shares of the company, valued at $ 32,370,630.63. The transaction was disclosed in a legal deposit with the Securities & Exchange Commission, accessible via this link. In addition, insider David S. Goone sold 10,402 shares of Intercontinental Exchange during a transaction on Monday, September 10th. The shares were sold at an average price of $ 78.01, for a total value of $ 811,460.02. The disclosure of this sale can be found here. Over the past 90 days, insiders sold 253,819 shares of a corporation worth $ 19,162,565. Insiders of the company own 1.50% of the shares of the company.
Institutional investors and hedge funds recently bought and sold shares in the company. Summit Trail Advisors LLC increased its interest in Intercontinental Exchange by 5,968.0% in the first quarter. Summit Trail Advisors LLC now holds 144,662 shares in the financial services provider valued at $ 145,000 after purchasing 142,278 additional shares in the last quarter. DnB Asset Management AS increased its stake in Intercontinental Exchange by 2.3% in the second quarter. DnB Asset Management AS now holds 204,330 shares in the financial services provider worth $ 15,028,000 after purchasing 4,500 additional shares in the last quarter. Boltwood Capital Management increased its stake in Intercontinental Exchange by 4.4% in the second quarter. Boltwood Capital Management now holds 25,005 shares of the financial services provider valued at $ 1,839,000 after the purchase of 1,065 additional shares in the last quarter. IFM Investors Pty Ltd increased its stake in Intercontinental Exchange by 43.4% in the second quarter. IFM Investors Pty Ltd now holds 26,150 shares in the financial services provider worth US $ 1,923,000 after purchasing 7,920 additional shares in the last quarter. Lastly, CENTRAL TRUST Co increased its stake in Intercontinental Exchange by 12.4% in the second quarter. CENTRAL TRUST Co now holds 16,641 shares in the financial services provider valued at $ 1,224,000 after purchasing 1,835 additional shares in the last quarter. 88.99% of the capital belongs to institutional investors.
Intercontinental Exchange Company Profile
Intercontinental Exchange, Inc. operates regulated exchanges, clearing houses and exchanges for the financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel and the United States. Canada. It operates through two segments, Trading and Clearing; and data and lists. The company operates marketplaces for the listing, trading and clearing of a variety of derivatives and securities contracts covering various badet clbades, including energy and agricultural commodities, foreign exchange rates and market prices. Interest, stocks, equity and credit derivatives, exchange traded funds, bonds and currencies.
See also: Initial public offering (IPO)
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