IntercontinentalExchange: S&P Intraday Gainer
The S&P 500 was gaining more than 5.5 points, or 0.43%, to 1,334.
Shares of IntercontinentalExchange rose 4.29% to $134.32 after the exchange and clearing house lost out in its bid for the London Metals Exchange to Hong Kong Exchanges & Clearing.
IntercontinentalExchange trades at an estimated price-to-earnings ratio for next year of 17.47 times; the average among its peers is 15.43. For comparison, CBOE Holdings (CBOE) has a lower forward P/E of 16.87.Sixteen of the 22 analysts who cover IntercontinentalExchange rated it buy. Five analysts gave the stock a hold rating and one rated it sell. The stock has risen 11.94% year to date.
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