Today: The Credit Agricole SA Analysts Reduce Earnings Estimates for IntercontinentalExchange Group Inc. (ICE)

The Credit Agricole SA Analysts Reduce Earnings Estimates for IntercontinentalExchange Group Inc. (ICE)

IntercontinentalExchange Group Inc. (NYSE:ICE) – Research analysts at Credit Agricole SA decreased their Q3 2016 earnings estimates for shares of IntercontinentalExchange Group in a research note issued on Wednesday. Credit Agricole SA analyst R. Rutschow now forecasts that the brokerage will post earnings per share of $3.15 for the quarter, down from their prior forecast of $3.20. Credit Agricole SA also issued estimates for IntercontinentalExchange Group’s FY2016 earnings at $13.60 EPS.

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

Several other analysts also recently weighed in on ICE. Jefferies Group raised their price objective on IntercontinentalExchange Group from $295.00 to $310.00 and gave the stock a “buy” rating in a research report on Tuesday. Deutsche Bank AG raised their price objective on 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 IntercontinentalExchange Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Keefe, Bruyette & Woods raised their price objective on IntercontinentalExchange Group from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, August 4th. Finally, Barclays PLC raised their price objective on IntercontinentalExchange Group from $295.00 to $307.00 and gave the stock an “overweight” rating 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 given a buy rating to the company’s stock. IntercontinentalExchange Group has an average rating of “Buy” and a consensus target price of $297.33.

IntercontinentalExchange Group (NYSE:ICE) opened at 271.29 on Friday. IntercontinentalExchange Group has a 1-year low of $227.22 and a 1-year high of $287.02. The stock has a 50 day moving average price of $276.18 and a 200 day moving average price of $262.36. The firm has a market capitalization of $31.21 billion, a price-to-earnings ratio of 22.38 and a beta of 0.92. Shares of IntercontinentalExchange Group are scheduled to split before the market opens on Friday, November 4th. The 5-1 split was announced on Wednesday, October 12th. The newly created shares will be distributed to shareholders after the market closes on Thursday, November 3rd.

Several large investors have recently added to or reduced their stakes in the stock. NN Investment Partners Holdings N.V. purchased a new stake in IntercontinentalExchange Group during the first quarter valued at approximately $3,175,000. TimesSquare Capital Management LLC boosted its stake in IntercontinentalExchange Group by 103.0% in the first quarter. TimesSquare Capital Management LLC now owns 29,310 shares of the company’s stock valued at $6,892,000 after buying an additional 14,875 shares during the period. ING Groep NV boosted its stake in IntercontinentalExchange Group by 20.0% in the first quarter. ING Groep NV now owns 40,641 shares of the company’s stock valued at $9,556,000 after buying an additional 6,780 shares during the period. Aviva PLC boosted its stake in IntercontinentalExchange Group by 8.2% in the first quarter. Aviva PLC now owns 66,398 shares of the company’s stock valued at $15,613,000 after buying an additional 5,043 shares during the period. Finally, AMF Pensionsforsakring AB boosted its stake in IntercontinentalExchange Group by 7.0% in the first quarter. AMF Pensionsforsakring AB now owns 199,592 shares of the company’s stock valued at $46,932,000 after buying an additional 13,050 shares during the period. 90.04% of the stock is owned by institutional investors.

In related news, insider Thomas W. Farley sold 1,900 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $283.03, for a total transaction of $537,757.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charles A. Vice sold 2,000 shares of IntercontinentalExchange Group stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $278.79, for a total value of $557,580.00. Following the completion of the sale, the insider now directly owns 61,983 shares of the company’s stock, valued at $17,280,240.57. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

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