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Intercontinental Exchange, Inc. (ICE), headquartered in Atlanta, Georgia, provides market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities. Valued at $85.6 billion by market cap, the company operates electronic energy markets and soft commodity exchanges and offers access to contracts based on crude oil and refined products, natural gas, power, and emissions, as well as agricultural commodities, including cocoa, coffee, cotton, orange juice, and sugar. The leading operator of global exchanges and data services provider is expected to announce its fiscal fourth-quarter earnings for 2024 before the market opens on Thursday, Feb. 6.
Ahead of the event, analysts expect ICE to report a profit of $1.50 per share on a diluted basis, up 12.8% from $1.33 per share in the year-ago quarter. The company beat or matched Wall Street’s EPS estimates in its last four quarterly reports.
For the full year, analysts expect ICE to report EPS of $6.06, up 7.8% from $5.62 in fiscal 2023. Its EPS is expected to rise 10.1% year over year to $6.67 in fiscal 2025.
ICE stock has underperformed the S&P 500’s ($SPX) 26.5% gains over the past 52 weeks, with shares up 18.5% during this period. Similarly, it underperformed the Financial Select Sector SPDR Fund’s (XLF) 34.8% gains over the same time frame.
On Oct. 31, ICE shares closed down more than 6% after reporting its Q3 results. Its revenue stood at $2.3 billion, up 17.3% year over year. The company’s adjusted EPS of $1.55, matched analyst estimates.
Analysts’ consensus opinion on ICE stock is bullish, with a “Strong Buy” rating overall. Out of 17 analysts covering the stock, 11 advise a “Strong Buy” rating, three suggest a “Moderate Buy,” and three give a “Hold.” ICE’s average analyst price target is $181.94, indicating a potential upside of 22% from the current levels.
