What is Zacks Research's Estimate for ICE FY2024 Earnings?

Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) - Investment analysts at Zacks Research dropped their FY2024 earnings estimates for shares of Intercontinental Exchange in a research note issued to investors on Tuesday, January 28th. Zacks Research analyst T. De now anticipates that the financial services provider will post earnings per share of $6.05 for the year, down from their previous 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.

ICE has been the topic of a number of other reports. The Goldman Sachs Group increased their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, October 3rd. Piper Sandler raised their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. StockNews.com downgraded shares of Intercontinental Exchange from a "hold" rating to a "sell" rating in a report on Wednesday, January 8th. Bank of America raised their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. Finally, Raymond James lowered shares of Intercontinental Exchange from a "strong-buy" rating to an "outperform" rating and set a $185.00 price target on the stock. in a report on Monday, October 14th. 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 company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $175.27.

Intercontinental Exchange Stock Performance

ICE stock traded up $2.23 during midday trading on Thursday, reaching $159.45. The stock had a trading volume of 1,452,181 shares, compared to its average volume of 3,176,199. The firm has a fifty day simple moving average of $153.10 and a two-hundred day simple moving average of $156.33. Intercontinental Exchange has a 52-week low of $124.34 and a 52-week 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. The stock has a market cap of $91.55 billion, a PE ratio of 37.78, a P/E/G ratio of 2.95 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.55. The business had revenue of $2.35 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter last year, the company posted $1.46 earnings per share.

Insider Transactions at Intercontinental Exchange

In other news, COO Stuart Glen Williams sold 750 shares of the business's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the transaction, the chief operating officer now owns 12,780 shares of the company's stock, valued at approximately $1,955,212.20. The trade was a 5.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Mayur Kapani sold 5,661 shares of the business's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total transaction of $835,506.99. Following the completion of the transaction, the chief technology officer now owns 66,548 shares in the company, valued at $9,821,819.32. The trade was a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,795 shares of company stock valued at $2,120,572 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intercontinental Exchange

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. TigerOak Management L.L.C. purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $1,129,000. Manchester Capital Management LLC boosted its position in shares of Intercontinental Exchange by 16.1% during the fourth quarter. Manchester Capital Management LLC now owns 2,775 shares of the financial services provider's stock worth $414,000 after buying an additional 384 shares during the period. Center for Financial Planning Inc. grew its stake in shares of Intercontinental Exchange by 12.6% in the fourth quarter. Center for Financial Planning Inc. now owns 2,802 shares of the financial services provider's stock valued at $417,000 after buying an additional 314 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of Intercontinental Exchange by 2.0% in the 4th quarter. Valeo Financial Advisors LLC now owns 6,821 shares of the financial services provider's stock valued at $1,016,000 after buying an additional 137 shares during the period. Finally, V Square Quantitative Management LLC boosted its holdings in Intercontinental Exchange by 9.4% during the 4th quarter. V Square Quantitative Management LLC now owns 10,437 shares of the financial services provider's stock valued at $1,555,000 after acquiring an additional 899 shares during the period. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange 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.