Intercontinental Exchange Inc. (NYSE:ICE) Declares Quarterly Dividend of $0.48

Key Points

• Intercontinental Exchange Inc. has declared a quarterly dividend of $0.48 per share, translating to an annual dividend of $1.92 with a yield of 1.05%.
• The company's earnings per share for the last quarter was $1.81, surpassing analysts' expectations, with a revenue increase of 9.8% year-over-year.
• Equities analysts have a positive outlook, with an average target price of $194.42 for Intercontinental Exchange, as 10 analysts have assigned a 'buy' rating.

Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) announced a quarterly dividend on Thursday, July 31st, RTT News reports. Investors of record on Tuesday, September 16th will be paid a dividend of 0.48 per share by the financial services provider on Tuesday, September 30th. This represents a c) annualized dividend and a yield of 1.0%.

Intercontinental Exchange has a dividend payout ratio of 25.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Intercontinental Exchange to earn $7.52 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 25.5%.

Intercontinental Exchange Trading Down 0.2%

ICE stock traded down $0.35 during trading on Friday, hitting $184.48. The company had a trading volume of 3,795,662 shares, compared to its average volume of 2,132,621. The business has a 50-day moving average of $180.71 and a 200-day moving average of $171.21. Intercontinental Exchange has a one year low of $142.29 and a one year high of $187.38. The stock has a market cap of $105.82 billion, a PE ratio of 35.41, a PEG ratio of 2.03 and a beta of 1.11. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%. The business had revenue of $3.26 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the prior year, the business posted $1.52 earnings per share. The firm's revenue was up 9.8% on a year-over-year basis. Research analysts predict that Intercontinental Exchange will post 6.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ICE shares. Barclays increased their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday. Keefe, Bruyette & Woods increased their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Piper Sandler increased their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. UBS Group increased their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, Morgan Stanley increased their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of "Moderate Buy" and an average price target of $194.92.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.