Nasdaq Inc (NDAQ) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Nasdaq Inc (NASDAQ:NDAQ) from a hold rating to a sell rating in a report published on Tuesday morning.

According to Zacks, “Nasdaq’s expense level still remains elevated. Among others, intense competition and regulatory issues remain key concerns. Also, shares of Nasdaq have underperformed the Zacks categorized Securities Exchanges industry year to date. Nonetheless, the company 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. Notably, the company realigned its reporting segments to better reflect client orientation, rebranded its fixed income business and has decided to end its NLX interest rate futures business as well.”

Separately, Royal Bank of Canada reiterated a sector perform rating and issued a $71.00 price objective on shares of Nasdaq in a research report on Thursday, March 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Nasdaq has an average rating of Hold and an average target price of $72.08.

Analyst Recommendations for Nasdaq (NASDAQ:NDAQ)

Shares of Nasdaq (NASDAQ:NDAQ) traded down 0.07% on Tuesday, hitting $69.08. The stock had a trading volume of 55,298 shares. The firm has a 50 day moving average price of $70.45 and a 200-day moving average price of $68.01. The company has a market cap of $11.52 billion, a price-to-earnings ratio of 107.94 and a beta of 0.89. Nasdaq has a 52 week low of $61.19 and a 52 week high of $72.52.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Tuesday, January 31st. The company reported $0.95 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.95. Nasdaq had a return on equity of 10.99% and a net margin of 2.94%. The firm earned $599 million during the quarter, compared to the consensus estimate of $600.89 million. During the same quarter in the previous year, the company posted $0.89 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. Analysts anticipate that Nasdaq will post $4.23 EPS for the current year.

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The business also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, March 17th were issued a $0.32 dividend. The ex-dividend date was Wednesday, March 15th. This represents a $1.28 dividend on an annualized basis and a yield of 1.85%. Nasdaq’s dividend payout ratio is presently 206.45%.

Large investors have recently added to or reduced their stakes in the stock. BlackRock Group LTD increased its stake in Nasdaq by 1.3% in the third quarter. BlackRock Group LTD now owns 1,133,943 shares of the company’s stock worth $76,586,000 after buying an additional 15,026 shares in the last quarter. Caldera Capital LLC bought a new stake in Nasdaq during the fourth quarter worth approximately $2,177,000. Ameriprise Financial Inc. increased its stake in Nasdaq by 5.7% in the third quarter. Ameriprise Financial Inc. now owns 487,781 shares of the company’s stock worth $32,944,000 after buying an additional 26,241 shares in the last quarter. Frontier Capital Management Co. LLC increased its stake in Nasdaq by 0.7% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,311,390 shares of the company’s stock worth $88,020,000 after buying an additional 9,149 shares in the last quarter. Finally, WealthTrust Fairport LLC increased its stake in Nasdaq by 0.8% in the third quarter. WealthTrust Fairport LLC now owns 116,841 shares of the company’s stock worth $7,891,000 after buying an additional 964 shares in the last quarter. Institutional investors and hedge funds own 73.64% of the company’s stock.

About Nasdaq

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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