The Jefferies Group Comments on IntercontinentalExchange Group Inc.’s Q3 2016 Earnings (ICE)

The Jefferies Group Comments on IntercontinentalExchange Group Inc.’s Q3 2016 Earnings (ICE)

IntercontinentalExchange Group Inc. (NYSE:ICE) – Jefferies Group lowered their Q3 2016 EPS estimates for IntercontinentalExchange Group in a note issued to investors on Tuesday. Jefferies Group analyst D. Fannon now anticipates that the firm will post earnings per share of $3.25 for the quarter, down from their prior forecast of $3.49. Jefferies Group currently has a “Buy” rating and a $310.00 target price on the stock. Jefferies Group also issued estimates for IntercontinentalExchange Group’s Q4 2016 earnings at $3.48 EPS.

Other analysts have also issued reports about the stock. Deutsche Bank AG raised their price objective on shares of IntercontinentalExchange Group from $310.00 to $311.00 and gave the stock a “buy” rating in a report on Friday, September 9th. Zacks Investment Research upgraded shares of IntercontinentalExchange Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. Keefe, Bruyette & Woods raised their price objective on shares of IntercontinentalExchange Group from $300.00 to $310.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. Barclays PLC lifted their target price on shares of IntercontinentalExchange Group from $295.00 to $307.00 and gave the company an “overweight” rating in a report on Thursday, August 4th. Finally, RBC Capital Markets reiterated a “sector perform” rating and set a $282.00 target price (up from $255.00) on shares of IntercontinentalExchange Group in a 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 assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $297.33.

IntercontinentalExchange Group (NYSE:ICE) opened at 266.56 on Wednesday. IntercontinentalExchange Group has a one year low of $227.22 and a one year high of $287.02. The firm’s 50-day moving average price is $276.35 and its 200 day moving average price is $262.11. The company has a market capitalization of $30.67 billion, a price-to-earnings ratio of 21.99 and a beta of 0.92. IntercontinentalExchange Group’s stock is going to split on the morning of Friday, November 4th. The 5-1 split was announced on Wednesday, October 12th. The newly issued shares will be payable to shareholders after the closing bell on Thursday, November 3rd.

IntercontinentalExchange Group (NYSE:ICE) last released its earnings results on Wednesday, August 3rd. The company reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.05. The company earned $1.10 billion during 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%. IntercontinentalExchange Group’s quarterly revenue was up 41.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.90 earnings per share.

In other IntercontinentalExchange Group news, insider Charles A. Vice sold 1,500 shares of IntercontinentalExchange Group stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $267.55, for a total value of $401,325.00. Following the completion of the sale, the insider now owns 61,483 shares of the company’s stock, valued at approximately $16,449,776.65. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Thomas W. Farley sold 1,900 shares of IntercontinentalExchange Group stock in a transaction that occurred on 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 company insiders.

A number of large investors have recently bought and sold shares of ICE. Nordea Investment Management AB increased its stake in IntercontinentalExchange Group by 525.5% in the second quarter. Nordea Investment Management AB now owns 1,010,715 shares of the company’s stock worth $258,703,000 after buying an additional 849,132 shares during the period. Emerald Acquisition Ltd. acquired a new stake in shares of IntercontinentalExchange Group during the second quarter worth about $129,695,000. Montag & Caldwell LLC increased its stake in shares of 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 last quarter. Wellington Management Group LLP increased its stake in shares of IntercontinentalExchange Group by 12.6% in the first quarter. Wellington Management Group LLP now owns 2,864,823 shares of the company’s stock worth $673,634,000 after buying an additional 319,612 shares during the last quarter. Finally, Carmignac Gestion increased its stake in shares of 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 last quarter. 90.04% of the stock is owned by institutional investors and hedge funds.

About IntercontinentalExchange Group

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