According to Zacks, “Intense competition, currency fluctuations and pricing continue to weigh on Nasdaq’s performance. Also, the Zacks Consensus Estimate has been witnessing downward revisions, with the same dipping 0.5% for both 2016 and 2017, over the last 60 days. Nonetheless, Nasdaq remains focused on growth through acquisitions and organic initiatives that enable entry and cross-selling opportunities into new markets at a low-cost and highly-flexible platform. The company displays its prudence by accelerating its non-transaction revenue base, which includes technology, listing and information revenues. This has been fueling organic growth for the securities exchange. In fact, management projects consistent mid-single-digit organic growth over the next three to five years. Nasdaq is improving leverage that supports accelerated capital deployment, thereby boosting investor confidence.”
A number of other brokerages also recently issued reports on NDAQ. Barclays PLC set a $79.00 price target on Nasdaq and gave the company a buy rating in a report on Wednesday, September 7th. Credit Suisse Group AG reaffirmed a buy rating and issued a $72.00 price target on shares of Nasdaq in a report on Monday, August 8th. Keefe, Bruyette & Woods upped their price target on Nasdaq from $70.00 to $74.00 and gave the company a market perform rating in a report on Thursday, July 28th. Jefferies Group upped their price target on Nasdaq from $58.00 to $68.00 and gave the company a hold rating in a report on Thursday, July 28th. Finally, Deutsche Bank AG increased their price objective on Nasdaq from $73.00 to $75.00 and gave the company a buy rating in a report on Thursday, July 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $69.67.
Nasdaq (NASDAQ:NDAQ) opened at 66.42 on Wednesday. The stock has a market capitalization of $10.99 billion, a price-to-earnings ratio of 23.00 and a beta of 0.81. The stock’s 50 day moving average is $69.41 and its 200 day moving average is $66.69. Nasdaq has a 12-month low of $53.22 and a 12-month high of $71.92.
Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.03. The firm earned $559 million during the quarter, compared to the consensus estimate of $548 million. Nasdaq had a return on equity of 10.76% and a net margin of 13.79%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.83 earnings per share. Equities research analysts forecast that Nasdaq will post $3.71 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Wednesday, September 14th. Nasdaq’s dividend payout ratio (DPR) is presently 44.44%.
In other Nasdaq news, insider Pc Nelson Griggs sold 2,945 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $71.52, for a total value of $210,626.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas A. Wittman sold 24,893 shares of the stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $67.08, for a total value of $1,669,822.44. Following the completion of the transaction, the executive vice president now owns 64,956 shares of the company’s stock, valued at approximately $4,357,248.48. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NDAQ. Northwestern Mutual Investment Management Company LLC boosted its position in Nasdaq by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 4,393 shares of the company’s stock valued at $284,000 after buying an additional 13 shares during the last quarter. Smith Salley & Associates boosted its position in Nasdaq by 0.3% in the second quarter. Smith Salley & Associates now owns 4,578 shares of the company’s stock valued at $296,000 after buying an additional 15 shares during the last quarter. WESPAC Advisors SoCal LLC boosted its position in Nasdaq by 0.3% in the second quarter. WESPAC Advisors SoCal LLC now owns 9,550 shares of the company’s stock valued at $618,000 after buying an additional 25 shares during the last quarter. Mackenzie Financial Corp boosted its position in Nasdaq by 0.6% in the second quarter. Mackenzie Financial Corp now owns 11,304 shares of the company’s stock valued at $731,000 after buying an additional 67 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its position in Nasdaq by 1.3% in the second quarter. CENTRAL TRUST Co now owns 5,998 shares of the company’s stock valued at $388,000 after buying an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 74.21% of the company’s stock.
Nasdaq Company Profile
Nasdaq, Inc (Nasdaq), formerly The NASDAQ OMX Group, Inc, is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services across approximately six continents. The Company manages, operates and provides its products and services through four segments: Market Services, Listing Services, Information Services and Technology Solutions.
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