Nasdaq, Inc. (NDAQ) Downgraded by Zacks Investment Research

Nasdaq, Inc. (NASDAQ:NDAQ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Shares of Nasdaq underperformed the Zacks categorized Securities Exchanges industry, quarter to date. The company’s elevated expenses restrict the desired margin expansion. Among others, intense competition and regulatory issues remain key concerns. 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. Notably, Nasdaq 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. Also, strong performances aid dividend increase.”

Several other research analysts have also commented on NDAQ. Royal Bank Of Canada reissued a “sector perform” rating and issued a $71.00 price objective on shares of Nasdaq in a research note on Thursday, March 30th. Jefferies Group LLC reiterated a “hold” rating and issued a $68.00 price target on shares of Nasdaq in a research note on Monday, April 10th. Deutsche Bank AG decreased their price target on shares of Nasdaq from $80.00 to $79.00 and set a “buy” rating for the company in a research note on Friday, April 28th. Evercore ISI reiterated an “in-line” rating and issued a $74.00 price target on shares of Nasdaq in a research note on Friday, April 28th. Finally, BidaskClub upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $73.11.

Nasdaq (NASDAQ NDAQ) traded up 0.84% during midday trading on Tuesday, reaching $70.89. 288,561 shares of the company’s stock traded hands. The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of 82.62 and a beta of 0.76. Nasdaq has a 1-year low of $61.19 and a 1-year high of $72.52. The firm’s 50-day moving average is $68.46 and its 200-day moving average is $68.99.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.05. Nasdaq had a net margin of 3.87% and a return on equity of 11.77%. The business had revenue of $583 million during the quarter, compared to analyst estimates of $593.46 million. During the same quarter last year, the firm posted $0.91 earnings per share. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. Analysts forecast that Nasdaq will post $4.12 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.16%. This is a boost from Nasdaq’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, June 14th. Nasdaq’s payout ratio is presently 183.13%.

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In other Nasdaq news, Director Lars Wedenborn sold 10,000 shares of the business’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $68.38, for a total value of $683,800.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.60% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Comerica Bank boosted its position in Nasdaq by 2.0% in the fourth quarter. Comerica Bank now owns 28,881 shares of the financial services provider’s stock worth $1,956,000 after buying an additional 579 shares during the period. Cigna Investments Inc. New bought a new position in Nasdaq during the fourth quarter worth $286,000. Thrivent Financial for Lutherans boosted its position in Nasdaq by 6.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,970 shares of the financial services provider’s stock worth $266,000 after buying an additional 230 shares during the period. Norges Bank bought a new position in Nasdaq during the fourth quarter worth $99,066,000. Finally, Quadrature Capital Ltd bought a new position in Nasdaq during the fourth quarter worth $478,000. 75.13% of the stock is currently owned by institutional investors.

About Nasdaq

Nasdaq, Inc (Nasdaq) is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services. It manages, operates and provides its products and services through four segments: Market Services, Corporate Services, Information Services and Market Technology.

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