Intercontinental Exchange (ICE) stock has gained 6.8% YTD, with positive growth prospects.

From Nasdaq: 2024-06-21 12:21:00

Intercontinental Exchange (ICE) stock has gained 6.8% year to date, outperforming the industry and finance sector. The company has a market capitalization of $78.6 billion and a solid balance sheet. Analysts are optimistic, with earnings estimates increasing for 2024 and 2025, reflecting a 10% growth in earnings over the last five years.

ICE’s top line is expected to benefit from a compelling product portfolio and risk management services, making it the second-largest global fixed-income provider. The company’s mortgage network in the U.S. is poised for growth, with estimates of revenue growth in the mortgage technology business. The Zacks Consensus Estimate for 2024 earnings is $5.96, with revenues expected to increase by 15.3%.

Intercontinental Ice remains well-positioned for stable growth with a healthy balance sheet and efficient capital deployment. The company continues to distribute wealth to shareholders through dividends and share buybacks. It has a solid surprise history in beating earnings estimates and ranks well within the industry.

Other stocks to consider in the finance sector are Coinbase Global (COIN), First BanCorp (FBP), and Morgan Stanley (MS). Coinbase has shown significant gains year to date and a strong earnings surprise history. First BanCorp and Morgan Stanley have also seen positive year-to-date gains and favorable earnings estimates for 2024 and 2025. Investors looking for potential growth opportunities may consider these stocks.

Read more at Nasdaq: Intercontinental (ICE) Gains 7% YTD: Will the Upside Continue?