Intercontinental Exchange (ICE) Getting Somewhat Positive News Coverage, Report Finds
Media stories about Intercontinental Exchange (NYSE:ICE) have trended somewhat positive this week, according to Accern Sentiment. Accern identifies negative and positive media coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Intercontinental Exchange earned a news impact score of 0.16 on Accern’s scale. Accern also assigned press coverage about the financial services provider an impact score of 45.9752845456226 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
These are some of the media headlines that may have impacted Accern Sentiment’s rankings:
- Hood River Capital Management Raised By $1.85 Million Its Pgt Innovations (PGTI) Position; Integre Asset … – Hill Country Times (hillcountrytimes.com)
- Do What Insiders Does: STORE Capital Corporation (STOR), Intercontinental Exchange, Inc. (ICE) – Market Movers (financialqz.com)
- Zacks: Analysts Anticipate Intercontinental Exchange Inc (ICE) Will Announce Quarterly Sales of $1.16 Billion (americanbankingnews.com)
- BRIEF-ICE Expands Daily Trading Limit For Cotton No. 2 Futures (reuters.com)
- Do What Insiders Does: Intercontinental Exchange, Inc. (ICE), Washington Prime Group Inc. (WPG) – Market Movers (financialqz.com)
ICE has been the topic of several recent analyst reports. Barclays raised their price target on Intercontinental Exchange from $72.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, October 10th. Argus raised their price target on Intercontinental Exchange from $72.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. UBS Group raised their price target on Intercontinental Exchange from $73.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Citigroup raised their price target on Intercontinental Exchange from $75.00 to $77.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Finally, Zacks Investment Research raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $75.40.
Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. Intercontinental Exchange had a return on equity of 11.01% and a net margin of 27.91%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 EPS. analysts expect that Intercontinental Exchange will post 2.94 EPS for the current year.
Intercontinental Exchange declared that its Board of Directors has approved a stock repurchase plan on Thursday, November 2nd that permits the company to buyback $1.20 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.
In other news, insider Charles A. Vice sold 12,500 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $68.52, for a total transaction of $856,500.00. Following the transaction, the insider now directly owns 382,471 shares in the company, valued at approximately $26,206,912.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jean Marc Forneri sold 8,000 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $70.68, for a total value of $565,440.00. The disclosure for this sale can be found here. Insiders have sold a total of 38,070 shares of company stock worth $2,684,849 over the last quarter. Corporate insiders own 1.50% of the company’s stock.
About Intercontinental Exchange
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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