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.”
NDAQ has been the subject of several other reports. Deutsche Bank AG lifted their price target on Nasdaq from $76.00 to $77.00 and gave the company a buy rating in a report on Friday, September 9th. Barclays PLC set a $79.00 price target on Nasdaq and gave the company a buy rating in a report on Wednesday, September 7th. Evercore ISI lowered Nasdaq from a buy rating to a hold rating and reduced their price target for the company from $69.00 to $68.00 in a report on Tuesday, July 5th. Jefferies Group lifted 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, JPMorgan Chase & Co. lifted their price target on Nasdaq from $64.00 to $69.00 and gave the company a neutral rating in a report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $69.67.
Shares of Nasdaq (NASDAQ:NDAQ) traded up 0.18% during mid-day trading on Wednesday, reaching $66.99. 258,690 shares of the company’s stock traded hands. The company has a market capitalization of $11.08 billion, a P/E ratio of 23.20 and a beta of 0.81. Nasdaq has a 1-year low of $52.75 and a 1-year high of $71.92. The firm has a 50-day moving average price of $69.70 and a 200-day moving average price of $66.63.
Nasdaq (NASDAQ:NDAQ) last released its earnings results on Wednesday, July 27th. The company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.03. Nasdaq had a return on equity of 10.76% and a net margin of 13.79%. The company had revenue of $559 million for the quarter, compared to analysts’ expectations of $548 million. During the same quarter in the previous year, the business posted $0.83 EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities research analysts forecast that Nasdaq will post $3.71 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Wednesday, September 14th. Nasdaq’s dividend payout ratio is presently 44.44%.
In other news, EVP Thomas A. Wittman sold 24,893 shares of the business’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $67.08, for a total transaction of $1,669,822.44. Following the sale, the executive vice president now directly owns 64,956 shares in the company, valued at $4,357,248.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert Greifeld sold 199,480 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $70.28, for a total value of $14,019,454.40. Following the sale, the chief executive officer now owns 1,064,815 shares in the company, valued at $74,835,198.20. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Investment Management Company LLC boosted its stake 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 worth $284,000 after buying an additional 13 shares in the last quarter. Smith Salley & Associates boosted its stake in shares of Nasdaq by 0.3% in the second quarter. Smith Salley & Associates now owns 4,578 shares of the company’s stock worth $296,000 after buying an additional 15 shares during the period. WESPAC Advisors SoCal LLC boosted its stake in shares of Nasdaq by 0.3% in the second quarter. WESPAC Advisors SoCal LLC now owns 9,550 shares of the company’s stock worth $618,000 after buying an additional 25 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Nasdaq by 0.6% in the second quarter. Mackenzie Financial Corp now owns 11,304 shares of the company’s stock worth $731,000 after buying an additional 67 shares during the period. Finally, CENTRAL TRUST Co boosted its stake in shares of Nasdaq by 1.3% in the second quarter. CENTRAL TRUST Co now owns 5,998 shares of the company’s stock worth $388,000 after buying an additional 78 shares during the period. Institutional investors and hedge funds own 74.20% 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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