The stock of Intercontinental Exchange Inc. (NYSE:ICE) increased by $0.52 on Tuesday to at $118.02, up 0.44 percent. The last five days have seen an average of 1,492,758 shares of common stock traded. 15 times new highs were reached in the current year, with a gain of $15.29. The average number of shares traded over the last 20 days was 2,116,290, while the average volume over the last 50 days totaled 2,150,232.
ICE stock appreciated 2.80% since last month. On 08/03/23, the company’s shares reached a one-month low of $107.31. The stock touched a high of $117.85 on 08/29/23, after rallying from a low of $88.60 in 52 weeks. The price of ICE stock has risen by 15.04% or $15.29 this year, reaching a new high 15 times. Still, the stock price is up 0.14% from the 52-week high.
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Insider Transactions
ICE stock investors should be aware that Intercontinental Exchange Inc. (ICE) stock had its last reported insider trading activity 6 days ago on Aug 23. On Aug 23, SVP, HR & Administration Foley Douglas sold 1,600 shares at $113.99 each. This transaction resulted in the insider making $182,384. On Aug 21, Tirinnanzi Martha A sold 496 shares at a price of US$113.56. After the transaction, the insider now owns 2,878 shares. Director Tirinnanzi Martha A had earlier sold 496 shares on Aug 16 for $113.97 a share. The transaction was completed for $56,529.
Valuation Metrics
Intercontinental Exchange Inc. (ICE) has a trailing price-to-earnings (P/E) ratio of 39.25. Beta for the stock is 0.93. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 6.88, the price-to-book (PB) ratio of 2.77, and the price-to-cash flow ratio of 20.87.
Company paid $0.42 per share in dividends, remained unchanged from $0.42 last year.
Financial Health
For the three months ended June 29, Intercontinental Exchange Inc.’s quick ratio was 1.10, while its current ratio was 1.10, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.76, and the total debt to equity ratio is 0.76. As far as profitability goes, gross margin for the trailing twelve months is 76.90% percent. Intercontinental Exchange Inc.’s operating margin stood at 38.70% for the same period. Based on annual data, it had gross profit of $7.16 billion and revenue of $7.29 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. ICE’s return on assets (ROA) during the last 12 months has been 1.00%. There was a 8.10% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 7.30%.
Earnings Surprise
According to Intercontinental Exchange Inc.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $2.44 billion, while revenues rose by 0.7% to $2.56 billion. It was predicted that Intercontinental Exchange Inc.’s quarterly earnings would be $1.43, but it ended up being $1.37, beating the consensus by 4.40%. EBITDA was $1.22 billion for the quarter. At the end of Intercontinental Exchange Inc.’s most recent quarter ended June 29, its liabilities totaled 112.39 billion, while its total debt was $18.35 billion. Equity owned by shareholders amounts to $560.3 million.
Technical Picture
Here’s a quick look at Intercontinental Exchange Inc.’s (ICE) price momentum from a technical perspective. As of 28 August, the RSI 9-day stood at 72.15%, suggesting the stock is Overbought, with a 9.64% historical volatility rate.
The stochastic %K and %D were 91.00% and 82.22% respectively, while the average true range (ATR) was 1.59. Based on the 14-day stochastic reading of 89.93%, the RSI (14) reading is 65.39%. On the 9-day MACD Oscillator, the stock is at 1.98, and the 14-day reading is at 2.24.
Analyst Ratings
In its most recent analyst report, Citigroup raised its rating on Intercontinental Exchange Inc. (NYSE: ICE) to a Buy. Prior to this, analysts firm rated the stock as a Neutral. Analysts have assigned Intercontinental Exchange Inc. (ICE) an Overweight rating. ICE is a stock that is recommended for selling by 0 brokerage firms, while 3 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 3 rates it overweight and 12 others recommend it as a buy.
What is ICE’s price target for the next 12 months?
The current consensus forecast for the stock is between $121.70 and $168.00, with a median target price of $131.50. In analyzing these forecasts, the average price target given by analysts for Intercontinental Exchange Inc. (ICE) is $133.48.
