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Barclays upbeat on ICE

Tuesday, May 10, 2011 1:35 PM
IntercontinentalExchange, Inc. (Public, NYSE:ICE). Last Market Price: 119.89, Change: +0.96, % Change: (0.81%). Shares trade in the range of 118.30 - 120.25 dollars. It has a market capitalization of 8.81B dollars and has 73.52M outstanding shares. The company has a beta of 1.16, indicating, the stock to be more volatile than the market. As per the most recent quarterly report, the net income per share (EPS) is 5.73; P/E of 20.93. It operates in Financial sector and belongs to Investment Services industry. The company has a 52 week high of $ 135.38 and a 52 week low of $ 92.18. Average volumes of shares traded daily are 832,472.00. Volume traded in the last session was at 223,568.00, 0.27 times the average volume. Barclays says results were a clear positive for ICE, delivering solid operating income coming from robust revenue growth against a controlled expense base. Despite the clean beat, focus continues to remain on ongoing merger dialog, which they believe will be the case for quite some time. From a fundamental standpoint, they have seen a very slow start to 2Q11 with tepid European energy volumes, which is somewhat understandable given the seasonal weakness in energy and the full holiday season in Europe to start the quarter. While they believe that the stock sets up nicely from a longer-term perspective, the challenging current fundamentals make it difficult to be overly positive in the near term. A year ago the figures stood at 320.79 million dollars. Estimate for EPS for the quarter ending June 11 show a mean of 1.59 dollars, an estimate high of 1.67 dollars and an estimate low of 1.45 dollars. A year ago, for the same period, the figures stood at 1.62 dollars. Consensus Recommendation is an Outperform. Sales for Quarter Ending Mar 11 was estimated at 329.65 million dollars, however the actual sales figure stood at 334.28 million dollars, 4.63 million dollars more than estimates. For Q1 (Mar '11), it had a Net profit margin of 38.94%, an operating margin of 60.91% Other Key stats and ratios include Return on average assets of 1.89%, Return on average equity of 18.09%. The total employee strength is of 949. Senior management consists of Jeffrey C. Sprecher, aged 56, as Chairman of the Board, Chief Executive Officer, Charles A. Vice, aged 47, as President, Chief Operating Officer and Scott A. Hill, aged 43, as Chief Financial Officer, Senior Vice President.
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