Intercontinental Exchange Q2 profit up 23% to $289 million

JPMorgan Chase & Co. cut their price target on shares of Intercontinental Exchange from $264.00 to $252.00 and set an “overweight” rating for the company in a report on Friday, June 5th. The estimated revenue was of $797.52M. Meanwhile, it also expects its share count to continue to drop as a result of share buybacks as it could reduce its share count by another 2 million through the end of the year. Operating income improved 31.5% to $430 million. The firm had revenue of $797 million for the quarter, compared to the consensus estimate of $811.85 million.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. The 12-month consensus target price for the stock is $258, which reflects an upside potential of 9.12% over the current price. The higher price target estimate is at $276 while the lower price estimates are fixed at $235.

There are now seventeen analysts that cover Intercontinental Exchange Inc stock. Company shares. In the past six months, there is a change of -17.06% in the total insider ownership.

Hengistbury Investment Partners Llp had the biggest stake with ownership of 130,275 shares as of q1 2015 for 19.45% of the portfolio. It has decreased by 6% from the same period of last month.

Shares of Intercontinental Exchange (NYSE:ICE) traded down 0.14% during midday trading on Thursday, hitting $237.20. The stock was sold at an average price of $230.36, for a total transaction of $1,918,898.80. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing. (NYSE:ICE) which led to swings in the share price. This represents a $3.00 annualized dividend and a yield of 1.26%. The heightened volatility saw the trading volume jump to 551,882 shares. The stock has a market cap of $27.29 billion and a P/E ratio of 26.12. Those costs should continue to head lower during the second half of the year and when combined with additional share buybacks could boost earnings per share to new record heights.

Intercontinental Exchange, Inc. (ICE) is a global operator of regulated exchanges, clearing houses and data services for financial and commodity markets. In February 2014, the Organization completed the acquisition of Singapore Mercantile Exchange. In July 2014, Intercontinental Exchange Inc sold its Wombat Financial Software, a component of NYSE Technologies. September 10, 2014, effective, Intercontinental Exchange Inc got an undisclosed bulk interest.