Intercontinental Change Inc. ICE is slated to report first-quarter 2024 earnings on Could 2, earlier than market open. ICE delivered an earnings shock in every of the final 4 quarters, the typical beat being 3.12%.
Components to Be aware
Stable efficiency at Exchanges, and Fastened Revenue and Knowledge Providers segments is prone to have aided revenues within the to-be-reported quarter. The Zacks Consensus Estimate for revenues is pegged at $2.30 billion, indicating a rise of 21.2% from the year-ago reported quantity.
Increased transaction and recurring revenues, development in different information and community companies, in addition to mounted earnings information and analytics merchandise, coupled with power in CDS clearing, are prone to have favored the Fastened Revenue and Knowledge Providers enterprise. The Zacks Consensus Estimate for the phase’s revenues is pegged at $580 million, indicating a 3% rise from the year-ago reported determine. We anticipate the metric to be $571.3 million.
The Change phase is prone to have benefited from larger transaction revenues, a rise in rate of interest enterprise, document power revenues, an increase in oil advanced and development in world pure gasoline revenues. The Zacks Consensus Estimate for the phase’s revenues is pegged at $1.5 billion. We anticipate the metric to be $1.1 billion.
The Mortgage Know-how phase’s revenues are anticipated to have gained from accretion from the Black Knight acquisition and better gross sales. The Zacks Consensus Estimate for the phase’s revenues is pegged at $509 million, indicating a two-fold enhance from the year-ago reported determine. We anticipate the metric to be $534.1 million.
Bills are prone to have benefited from larger authorized bills primarily associated to the Black Knight acquisition, an increase in bonus and noncash performance-based restricted inventory compensation accruals, elevated {hardware} and software program help prices, different enhancements in hire and utility prices, elevated journey and leisure bills, dangerous debt expense and development in internally developed software program belongings.
ICE expects first-quarter 2024 GAAP working bills within the vary of $1.175-$1.185 billion. Adjusted working bills are anticipated within the vary of $930-$940 million. GAAP non-operating bills are anticipated within the vary of $245-$250 million. Adjusted non-operating bills are projected within the band of $215-$220 million.
The Zacks Consensus Estimate for earnings is pegged at $1.49 per share, indicating a rise of 5.6% from the prior-year quarter’s reported determine.
ICE reported a 16% enhance in first-quarter common day by day quantity (ADV). Whole Pure Fuel ADV was up 34% yr over yr. Whole Agricultural & Metals ADV elevated 11% and whole Financials ADV rose 5% yr over yr.
What the Zacks Mannequin Says
Our confirmed mannequin predicts an earnings beat for Intercontinental this time round. The mixture of a optimistic Earnings ESP and a Zacks Rank #1 (Sturdy Purchase), 2 (Purchase) or 3 (Maintain) will increase the percentages of an earnings beat.
Earnings ESP: Intercontinental has an Earnings ESP of +0.54%. It’s because the Most Correct Estimate of $1.50 is pegged larger than the Zacks Consensus Estimate of $1.49. You may uncover the very best shares to purchase or promote earlier than they’re reported with our Earnings ESP Filter.
Intercontinental Change Inc. Worth and EPS Shock
Intercontinental Exchange Inc. price-eps-surprise | Intercontinental Change Inc. Quote
Zacks Rank: ICE presently carries a Zacks Rank of three.
Different Shares to Contemplate
Listed below are another finance shares with the appropriate mixture of parts to give you an earnings beat this time round.
Cboe International Markets, Inc. CBOE has an Earnings ESP of +0.35% and a Zacks Rank of three at current. The Zacks Consensus Estimate for first-quarter 2024 earnings is pegged at $2.04 per share, indicating a rise of seven.4% from the year-ago reported determine. You may see the complete list of today’s Zacks #1 Rank stocks here.
CBOE’s earnings beat estimates in every of the final 4 quarters.
Coinbase International, Inc. COIN has an Earnings ESP of +36.53% and sports activities a Zacks Rank of 1 at current. The Zacks Consensus Estimate for first-quarter 2024 earnings is pegged at 89 cents, indicating a surge of 493.3% from the year-ago reported determine.
COIN’s earnings beat estimates in every of the final 4 quarters.
MarketAxess Holdings Inc. MKTX has an Earnings ESP of +0.75% and a Zacks Rank of three at current. The Zacks Consensus Estimate for first-quarter 2024 earnings is pegged at $1.85, indicating a lower of 5.6% from the year-ago reported determine.
MKTX’s earnings beat estimates in three of the final 4 reported quarters and missed in a single.
Keep on prime of upcoming earnings bulletins with the Zacks Earnings Calendar.
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Intercontinental Exchange Inc. (ICE) : Free Stock Analysis Report
Cboe Global Markets, Inc. (CBOE) : Free Stock Analysis Report
MarketAxess Holdings Inc. (MKTX) : Free Stock Analysis Report
Coinbase Global, Inc. (COIN) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.
