Nasdaq, Inc. (NASDAQ:NDAQ) Upgraded by Zacks Investment Research to Hold
Zacks Investment Research upgraded shares of Nasdaq, Inc. (NASDAQ:NDAQ) from a sell rating to a hold rating in a research report report published on Monday.
According to Zacks, “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. It displays prudence by accelerating its non-transaction revenue base. 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. However, elevated expenses restrict the desired margin expansion. Intense competition and regulatory issues remain key concerns. Also, shares of Nasdaq underperformed the Zacks categorized Securities Exchanges industry, year to date. The company is set to report second quarter release on Jul 26. According to our proven model a Zacks Rank #3 when combined with an Earnings ESP of 0.00% makes prediction difficult for a likely earnings beat.”
NDAQ has been the subject of several other research reports. Deutsche Bank AG decreased their price objective 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. Royal Bank Of Canada set a $70.00 price objective on shares of Nasdaq and gave the company a hold rating in a research note on Friday, April 21st. BidaskClub upgraded shares of Nasdaq from a sell rating to a hold rating in a research note on Thursday, June 29th. Jefferies Group LLC restated a hold rating and issued a $68.00 price objective on shares of Nasdaq in a research note on Monday, April 10th. Finally, Evercore ISI restated an in-line rating and issued a $74.00 price objective on shares of Nasdaq in a research note on Friday, April 28th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $74.00.
Nasdaq (NDAQ) opened at 72.02 on Monday. The company has a 50-day moving average price of $70.65 and a 200-day moving average price of $69.51. Nasdaq has a 52 week low of $63.30 and a 52 week high of $72.52. The stock has a market cap of $11.90 billion, a price-to-earnings ratio of 83.94 and a beta of 0.76.
Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $583 million during the quarter, compared to the consensus estimate of $593.46 million. During the same quarter in the prior year, the firm posted $0.91 earnings per share. Nasdaq’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities research analysts anticipate that Nasdaq will post $4.11 EPS for the current year.
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The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 16th were issued a dividend of $0.38 per share. This is a boost from Nasdaq’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a yield of 2.11%. The ex-dividend date was Wednesday, June 14th. Nasdaq’s dividend payout ratio is currently 183.13%.
In related news, Director Lars Wedenborn sold 10,000 shares of the stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $68.38, for a total transaction of $683,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of NDAQ. 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 valued at $266,000 after buying an additional 230 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Nasdaq during the fourth quarter valued at about $478,000. Ibex Wealth Advisors boosted its position in Nasdaq by 4.0% in the fourth quarter. Ibex Wealth Advisors now owns 21,300 shares of the financial services provider’s stock valued at $1,435,000 after buying an additional 828 shares in the last quarter. Teachers Advisors LLC boosted its position in Nasdaq by 7.3% in the fourth quarter. Teachers Advisors LLC now owns 172,949 shares of the financial services provider’s stock valued at $11,608,000 after buying an additional 11,768 shares in the last quarter. Finally, Kentucky Retirement Systems purchased a new position in Nasdaq during the fourth quarter valued at about $555,000. 74.67% of the stock is owned by hedge funds and other institutional investors.
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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