ICE Shares Hits 52-Week High - Analyst Blog
26 Marzo 2013 - 1:26PM
Zacks
On Mar 25, 2013, shares of Intercontinental Exchange,
Inc. (ICE) hit a 52-week high of $163.81. Previously, the
company had reported fourth-quarter results with an earnings
surprise of 5.1%. This securities exchange witnessed positive
earnings surprises in three of four quarters in 2012, with an
average beat of 3.4%.
On Feb 6, Intercontinental Exchange reported fourth-quarter 2012
operating income of $1.84 per share, surpassing the Zacks Consensus
Estimate of $1.75 and year-ago earnings of $1.76 per share. Results
reflect lower-than-expected expenses and low tax rate that helped
maintain the margins and cash flow growth.
In mid-March, Intercontinental Exchange announced its intention to
launch four credit index futures (CDX), which will be based on the
Markit CDX and Markit iTraxx indices. CDX are contracts that offer
greater efficiency in credit risk management while hedging in the
corporate credit market.
Moreover, the acquisition of NYSE Euronext, Inc.
(NYX) announced in Dec 2012 is expected to help Intercontinental
Exchange emerge as one of the strongest players in the exchange
industry, upon successful culmination in 2013.
Valuation for Intercontinental Exchange looks reasonable. The
shares are trading at a 4.2% premium to the peer group average and
in line with the peer group average on price-to-earnings basis.
Return on equity is also in line with the peer group average. The
1-year return from the stock is 16.1%, much above S&P’s return
of 10.9%.
We believe that a high earnings visibility, strong product
portfolio, consistent cash generation, disciplined investment and
limited balance-sheet risk enable IntercontinentalExchange to be
one of the most dynamic companies in the industry. The company is
growing through strategic acquisitions, product novelty and
expansion in the globally emerging markets. The overall long-term
expected earnings growth rate for this stock is 11.2%.
IntercontinentalExchange presently carries a Zacks Rank # 3 (Hold).
Other strong performers in the financial sector include
Euronet Worlwide Inc. (EEFT) and Moody’s
Corp. ( MCO ) , both of which carry a Zacks Rank #1
(Strong Buy).
EURONET WORLDWD (EEFT): Free Stock Analysis Report
INTERCONTINENTL (ICE): Free Stock Analysis Report
MOODYS CORP (MCO): Free Stock Analysis Report
NYSE EURONEXT (NYX): Free Stock Analysis Report
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