Stocks of Intercontinental Exchange Inc. (NYSE:ICE) traded higher last session on Wall Street, down -0.83% to $117.01.
According to the data, Intercontinental Exchange Inc. (NYSE:ICE) has 18 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $168.00 and a low of $121.70, we find $132.50. Given the previous closing price of $117.99, this indicates a potential upside of 12.3 percent. ICE stock price is now 2.16% away from the 50-day moving average and 8.52% away from the 200-day moving average. The market capitalization of the company currently stands at $66.11B.
A total of 3 analysts have issued a hold rating and 12 have given it a buy rating. Brokers who have rated the stock have averaged $133.76 as their price target over the next twelve months.
With the price target enhanced from $117 to $130, Citigroup Upgraded its rating from Neutral to Buy for Intercontinental Exchange Inc. (NYSE: ICE).
In other news, Foley Douglas, SVP, HR & Administration sold 1,600 shares of the company’s stock on Aug 23. The stock was sold for $182,384 at an average price of $113.99. Upon completion of the transaction, the SVP, HR & Administration now directly owns 18,402 shares in the company, valued at $2.15 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 21, Director Tirinnanzi Martha A sold 496 shares of the business’s stock. A total of $56,326 was realized by selling the stock at an average price of $113.56. This leaves the insider owning 2,878 shares of the company worth $0.34 million. Insiders disposed of 520,229 shares of company stock worth roughly $60.87 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ICE stock. A new stake in Intercontinental Exchange Inc. shares was purchased by THIRD POINT LLC during the first quarter worth $216,469,000. ZURICH INSURANCE GROUP LTD/FI invested $68,976,000 in shares of ICE during the first quarter. In the first quarter, ALYESKA INVESTMENT GROUP, L.P. acquired a new stake in Intercontinental Exchange Inc. valued at approximately $24,082,000. HAHN CAPITAL MANAGEMENT LLC acquired a new stake in ICE for approximately $10,245,000. WEISS MULTI-STRATEGY ADVISERS LLC purchased a new stake in ICE valued at around $8,837,000 in the second quarter.
Friday’s opening bell rang with an opening price of $118.69 for Intercontinental Exchange Inc. (NYSE: ICE). During the past 12 months, Intercontinental Exchange Inc. has had a low of $88.60 and a high of $118.79. As of last week, the company has a debt-to-equity ratio of 0.76, a current ratio of 1.10, and a quick ratio of 1.10. According to the stock market information, the enterprise value for the company is $81.03B, which is based on a 38.91 price-to-earnings ratio, a 5.72 price-to-earnings-growth ratio, and a beta of 0.94. The fifty day moving average price for ICE is $114.66 and a two-hundred day moving average price translates $107.88 for the stock.
The latest earnings results from Intercontinental Exchange Inc. (NYSE: ICE) was released for Jun, 2023. According to the Financial Data & Stock Exchanges Company, earnings per share came in at $1.43, beating analysts’ expectations of $1.37 by 0.06. This compares to $1.01 EPS in the same period last year. The net profit margin was 17.60% and return on equity was 7.30% for ICE. The company reported revenue of $1.89 billion for the quarter, compared to $1.81 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 4.08 percent. For the current quarter, analysts expect ICE to generate $1.91B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/29/2023. Investors who held shares on 09/15/2023 were paid a $0.42 dividend. On an annualized basis, this represents a $1.68 dividend and a 1.44% percent yield. There was an ex-dividend date of 09/14/2023 for this dividend. In terms of dividend payout ratio, ICE is presently at 53.00%.
Intercontinental Exchange Inc.(ICE) Company Profile
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. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology. The company operates regulated marketplaces for listing, trading, and clearing an array of derivatives contracts and financial securities, such as commodities, interest rates, foreign exchange, and equities, as well as corporate and exchange-traded funds; and trading venues, including regulated exchanges and clearing houses. It also offers energy, agricultural and metals, and financial futures and options; and cash equities and equity options, and over-the-counter and other markets, as well as listings and data and connectivity services. In addition, the company provides fixed income data and analytic, fixed income execution, CDS clearing, and other multi-asset class data and network services. Further, it offers proprietary and comprehensive mortgage origination platform, which serves residential mortgage loans; closing solutions that provides customers connectivity to the mortgage supply chain and facilitates the secure exchange of information; data and analytics services; and Data as a Service for lenders to access data and origination information. Intercontinental Exchange, Inc. was founded in 2000 and is headquartered in Atlanta, Georgia.
