IntercontinentalExchange Group Inc. Expected to Earn Q3 2016 Earnings of $3.25 Per Share (ICE)
IntercontinentalExchange Group Inc. (NYSE:ICE) – Analysts at Jefferies Group lowered their Q3 2016 earnings per share (EPS) estimates for shares of IntercontinentalExchange Group in a note issued to investors on Tuesday. Jefferies Group analyst D. Fannon now expects that the brokerage will post earnings of $3.25 per share for the quarter, down from their prior estimate of $3.49. Jefferies Group has a “Buy” rating and a $310.00 price objective on the stock. Jefferies Group also issued estimates for IntercontinentalExchange Group’s Q4 2016 earnings at $3.48 EPS.
IntercontinentalExchange Group (NYSE:ICE) last posted its earnings results on Wednesday, August 3rd. The company reported $3.43 EPS for the quarter, beating analysts’ consensus estimates of $3.38 by $0.05. The firm earned $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. IntercontinentalExchange Group had a return on equity of 10.72% and a net margin of 25.83%. The company’s quarterly revenue was up 41.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.90 EPS.
ICE has been the subject of several other reports. Royal Bank Of Canada lifted their price target on IntercontinentalExchange Group from $255.00 to $282.00 and gave the company a “sector perform” rating in a research report on Thursday, August 4th. Barclays PLC lifted their price target on IntercontinentalExchange Group from $295.00 to $307.00 and gave the company an “overweight” rating in a research report on Thursday, August 4th. Zacks Investment Research cut IntercontinentalExchange Group from a “hold” rating to a “sell” rating in a research report on Friday, October 7th. RBC Capital Markets reiterated a “sector perform” rating and set a $282.00 price target (up from $255.00) on shares of IntercontinentalExchange Group in a research report on Thursday, August 4th. Finally, Keefe, Bruyette & Woods lifted their price target on IntercontinentalExchange Group from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $297.33.
Shares of IntercontinentalExchange Group (NYSE:ICE) traded up 0.48% during mid-day trading on Wednesday, reaching $266.62. The company had a trading volume of 178,406 shares. IntercontinentalExchange Group has a 1-year low of $227.22 and a 1-year high of $287.02. The company has a market capitalization of $30.67 billion, a PE ratio of 22.00 and a beta of 0.92. The stock’s 50-day moving average price is $276.98 and its 200 day moving average price is $262.04.
A number of institutional investors have recently added to or reduced their stakes in ICE. Renaissance Technologies LLC raised its position in IntercontinentalExchange Group by 68.8% in the first quarter. Renaissance Technologies LLC now owns 147,213 shares of the company’s stock worth $34,616,000 after buying an additional 60,015 shares during the period. Carmignac Gestion raised its position in IntercontinentalExchange Group by 12.0% in the second quarter. Carmignac Gestion now owns 2,633,120 shares of the company’s stock worth $673,973,000 after buying an additional 282,595 shares during the period. Retirement Systems of Alabama raised its position in IntercontinentalExchange Group by 0.8% in the second quarter. Retirement Systems of Alabama now owns 60,691 shares of the company’s stock worth $15,534,000 after buying an additional 494 shares during the period. Montag & Caldwell LLC raised its position in IntercontinentalExchange Group by 7,279.1% in the second quarter. Montag & Caldwell LLC now owns 336,559 shares of the company’s stock worth $86,146,000 after buying an additional 331,998 shares during the period. Finally, AMP Capital Investors Ltd raised its position in IntercontinentalExchange Group by 11.7% in the first quarter. AMP Capital Investors Ltd now owns 62,363 shares of the company’s stock worth $14,545,000 after buying an additional 6,540 shares during the period. 90.04% of the stock is currently owned by institutional investors.
In other IntercontinentalExchange Group news, insider Charles A. Vice sold 2,000 shares of the business’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $278.79, for a total transaction of $557,580.00. Following the transaction, the insider now owns 61,983 shares of the company’s stock, valued at $17,280,240.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Scott A. Hill sold 9,117 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $280.00, for a total value of $2,552,760.00. Following the transaction, the chief financial officer now directly owns 38,809 shares in the company, valued at approximately $10,866,520. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
About IntercontinentalExchange Group
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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