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MarketScreener Homepage  >  Equities  >  Nyse  >  Intercontinental Exchange, Inc.    ICE

INTERCONTINENTAL EXCHANGE, INC.

(ICE)
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Exchange Stocks Rally on Volatility in Markets

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09/17/2019 | 03:51pm EDT

By Jessica Menton

There is one group benefiting from the pickup in market volatility this week: exchange operators.

Shares of CME Group Inc., Intercontinental Exchange Inc., Nasdaq Inc., MarketAxess Holdings Inc. and S&P Global Inc. each have climbed at least 2.2% so far this week and are all up by double-digit percentages in 2019.

One possible reason for this week's gains, some analysts say, is that the Intercontinental Exchange and CME both trade oil futures and have had a direct impact on their volumes from the attack on Saudi oil infrastructure over the weekend.

Analysts and investors also attribute the strong performance among exchange operators this year to large swings in the stock, bond and currency markets. Lower borrowing costs this summer have spurred a rise in trading volumes, the analysts said.

Oppenheimer initiated coverage on several of the stocks with "outperform" ratings Monday. The firm said Intercontinental Exchange with could serve as a hedge to investors' portfolios amid a recent rise in volatility.

"When there is an unexpected change in oil prices, airlines and [exploration-and-production] companies use futures contracts to lock in energy prices," Oppenheimer analysts said in a research note. "When there is an unexpected change in interest rates, banks and corporations use interest-rate derivatives to hedge against adverse interest-rate movements."

ICE focuses on Brent, the global benchmark for crude oil, which accounts for two-thirds of all oil pricing, according to Oppenheimer. The firm estimated that ICE's revenue from energy grew 7.6% from 2009 to 2018, compared with 2% for CME, which is focused on U.S. oil futures and has a more limited market size.

The firm also said CME could benefit from the recent gyrations in oil prices and interest rates.

Stocks mentioned in the article
ChangeLast1st jan.
CME GROUP INC. 0.10% 202.23 Delayed Quote.7.39%
INTERCONTINENTAL EXCHANGE, INC. 1.15% 92.93 Delayed Quote.21.96%
LONDON BRENT OIL 2.55% 61.08 Delayed Quote.9.51%
MARKETAXESS HOLDINGS INC. 0.45% 342.18 Delayed Quote.61.21%
NASDAQ 3.53% 101.31 Delayed Quote.19.97%
NASDAQ COMP. 0.19% 8119.792916 Delayed Quote.21.92%
OPPENHEIMER HOLDINGS INC. 0.11% 28.04 Delayed Quote.9.63%
S&P GLOBAL INC. -0.92% 243.91 Delayed Quote.47.95%
WTI 2.79% 55.7 Delayed Quote.18.22%
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Financials (USD)
Sales 2019 5 231 M
EBIT 2019 3 021 M
Net income 2019 1 934 M
Debt 2019 6 747 M
Yield 2019 1,18%
P/E ratio 2019 27,1x
P/E ratio 2020 24,5x
EV / Sales2019 11,2x
EV / Sales2020 10,6x
Capitalization 52 079 M
Chart INTERCONTINENTAL EXCHANGE, INC.
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Intercontinental Exchange, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends INTERCONTINENTAL EXCHANGE,
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 20
Average target price 98,90  $
Last Close Price 92,93  $
Spread / Highest target 16,2%
Spread / Average Target 6,42%
Spread / Lowest Target -17,1%
EPS Revisions
Managers
NameTitle
Jeffrey Craig Sprecher Chairman & Chief Executive Officer
Benjamin R. Jackson President
Mark P. Wassersug Chief Operating Officer
Scott Anthony Hill Chief Financial Officer
Mayur Kapani Chief Technology Officer
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