Todays Report: The FY2016 EPS Estimates for IntercontinentalExchange Group Inc. Cut by Analyst (ICE)

The FY2016 EPS Estimates for IntercontinentalExchange Group Inc. Cut by Analyst (ICE)

IntercontinentalExchange Group Inc. (NYSE:ICE) – Equities research analysts at Jefferies Group cut their FY2016 earnings per share estimates for shares of IntercontinentalExchange Group in a report released on Tuesday. Jefferies Group analyst D. Fannon now anticipates that the firm will earn $13.83 per share for the year, down from their prior estimate of $14.10. Jefferies Group has a “Buy” rating and a $310.00 price target on the stock. Jefferies Group also issued estimates for IntercontinentalExchange Group’s FY2017 earnings at $15.48 EPS.

IntercontinentalExchange Group (NYSE:ICE) last announced its earnings results on Wednesday, August 3rd. The company reported $3.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.38 by $0.05. IntercontinentalExchange Group had a net margin of 25.83% and a return on equity of 10.72%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business earned $2.90 earnings per share. The company’s revenue for the quarter was up 41.7% compared to the same quarter last year.

A number of other brokerages also recently commented on ICE. Deutsche Bank AG upped their price objective on shares of IntercontinentalExchange Group from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, September 9th. Zacks Investment Research upgraded shares of IntercontinentalExchange Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Keefe, Bruyette & Woods upped their price objective on shares of IntercontinentalExchange Group from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, August 4th. Barclays PLC upped their price objective on shares of IntercontinentalExchange Group from $295.00 to $307.00 and gave the stock an “overweight” rating in a research report on Thursday, August 4th. Finally, RBC Capital Markets restated a “sector perform” rating and set a $282.00 price objective (up previously from $255.00) on shares of IntercontinentalExchange Group in a research report on Thursday, August 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $297.33.

Shares of IntercontinentalExchange Group (NYSE:ICE) traded down 0.65% during mid-day trading on Thursday, hitting $265.60. 268,906 shares of the stock traded hands. IntercontinentalExchange Group has a 12-month low of $227.22 and a 12-month high of $287.02. The firm’s 50 day moving average price is $276.65 and its 200 day moving average price is $262.07. The firm has a market cap of $30.56 billion, a price-to-earnings ratio of 21.91 and a beta of 0.92. IntercontinentalExchange Group shares are set to split on Friday, November 4th. The 5-1 split was announced on Wednesday, October 12th. The newly issued shares will be distributed to shareholders after the market closes on Thursday, November 3rd.

Large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its stake in IntercontinentalExchange Group by 68.8% in the first quarter. Renaissance Technologies LLC now owns 147,213 shares of the company’s stock valued at $34,616,000 after buying an additional 60,015 shares in the last quarter. Carmignac Gestion boosted its stake in IntercontinentalExchange Group by 12.0% in the second quarter. Carmignac Gestion now owns 2,633,120 shares of the company’s stock valued at $673,973,000 after buying an additional 282,595 shares in the last quarter. Retirement Systems of Alabama boosted its stake in IntercontinentalExchange Group by 0.8% in the second quarter. Retirement Systems of Alabama now owns 60,691 shares of the company’s stock valued at $15,534,000 after buying an additional 494 shares in the last quarter. Montag & Caldwell LLC boosted its stake in IntercontinentalExchange Group by 7,279.1% in the second quarter. Montag & Caldwell LLC now owns 336,559 shares of the company’s stock valued at $86,146,000 after buying an additional 331,998 shares in the last quarter. Finally, AMP Capital Investors Ltd boosted its stake in IntercontinentalExchange Group by 11.7% in the first quarter. AMP Capital Investors Ltd now owns 62,363 shares of the company’s stock valued at $14,545,000 after buying an additional 6,540 shares in the last quarter. 90.04% of the stock is currently owned by institutional investors.

In other IntercontinentalExchange Group news, insider Charles A. Vice sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $267.55, for a total transaction of $401,325.00. Following the sale, the insider now directly owns 61,483 shares of the company’s stock, valued at approximately $16,449,776.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas W. Farley sold 1,900 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $283.03, for a total transaction of $537,757.00. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

About IntercontinentalExchange Group

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