Analysts Offer Predictions for Intercontinental Exchange, Inc.’s Q2 2024 Earnings (NYSE:ICE)

Intercontinental Exchange, Inc. (NYSE:ICE) – Zacks Research lifted their Q2 2024 EPS estimates for Intercontinental Exchange in a research report issued on Thursday, May 23rd. Zacks Research analyst T. De now anticipates that the financial services provider will earn $1.45 per share for the quarter, up from their previous forecast of $1.38. The consensus estimate for Intercontinental Exchange’s current full-year earnings is $5.96 per share. Zacks Research also issued estimates for Intercontinental Exchange’s Q3 2024 earnings at $1.45 EPS, FY2024 earnings at $5.87 EPS, Q1 2025 earnings at $1.62 EPS, Q2 2025 earnings at $1.61 EPS, Q3 2025 earnings at $1.60 EPS, Q4 2025 earnings at $1.73 EPS, FY2025 earnings at $6.57 EPS and Q1 2026 earnings at $1.76 EPS.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the company posted $1.41 earnings per share. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year.

ICE has been the topic of a number of other research reports. Bank of America dropped their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Morgan Stanley increased their target price on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Citigroup increased their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. UBS Group increased their target price on Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Finally, Barclays reduced their price objective on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.29.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $136.34 on Friday. The business’s 50 day moving average price is $134.28 and its 200 day moving average price is $128.84. The firm has a market cap of $78.20 billion, a P/E ratio of 31.27, a P/E/G ratio of 2.52 and a beta of 1.02. Intercontinental Exchange has a 52 week low of $103.81 and a 52 week high of $140.43. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76.

Hedge Funds Weigh In On Intercontinental Exchange

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC raised its position in shares of Intercontinental Exchange by 17.0% during the 3rd quarter. Private Advisor Group LLC now owns 23,734 shares of the financial services provider’s stock worth $2,611,000 after acquiring an additional 3,441 shares in the last quarter. US Bancorp DE raised its position in shares of Intercontinental Exchange by 4.0% during the 3rd quarter. US Bancorp DE now owns 105,509 shares of the financial services provider’s stock worth $11,608,000 after acquiring an additional 4,029 shares in the last quarter. MGO One Seven LLC raised its position in shares of Intercontinental Exchange by 8.3% during the 3rd quarter. MGO One Seven LLC now owns 6,044 shares of the financial services provider’s stock worth $665,000 after acquiring an additional 462 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Intercontinental Exchange by 0.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 155,442 shares of the financial services provider’s stock worth $17,102,000 after acquiring an additional 650 shares in the last quarter. Finally, Corient Private Wealth LLC raised its position in shares of Intercontinental Exchange by 3.7% during the 3rd quarter. Corient Private Wealth LLC now owns 434,002 shares of the financial services provider’s stock worth $47,749,000 after acquiring an additional 15,592 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the transaction, the general counsel now directly owns 48,713 shares in the company, valued at approximately $6,417,450.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the transaction, the general counsel now owns 48,713 shares in the company, valued at approximately $6,417,450.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was bought at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the purchase, the insider now directly owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 61,467 shares of company stock worth $8,433,168. 1.10% of the stock is currently owned by company insiders.

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.