The curious case of $ICE in 2021:
- +10% dividend raise in Q1
- Debt paydown ahead of schedule
- Ellie Mae deal beating expectations
- Recurring data growth meeting guidance
Yet the stock is only +4% YTD, severely underperforming S&P 500 and peers.
Why?
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Not really a good reason but after a good 2020 - might just take a breather - if underlying performance is good it will pick up again. And I feel investors appreciated capital allocation skills of ICE but some were somewhat puzzled by the Ebay news.
It's crazy to me how much damage was done to ICE's brand value from the eBay saga. Took 2-3 days to play out and die and yet its been spooking some for over a year
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Yeah not sure it still is at play - stock "recovered" quickly - I mention it but hard to say it is still in the head of investors
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out of curiosity: multiple/FCF yield wise ~ valuation let say fair versus history ~ you just see for example 5 years ahead and consider it one of the "cheaper" high quality exchange/data providers?
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Sorry I missed that one, what was the eBay issue?
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