Brokers Issue Forecasts for Nasdaq Inc.’s Q4 2016 Earnings (NDAQ)
Nasdaq Inc. (NASDAQ:NDAQ) – Equities research analysts at Credit Agricole SA dropped their Q4 2016 EPS estimates for Nasdaq in a research report issued on Wednesday. Credit Agricole SA analyst R. Rutschow now expects that the brokerage will post earnings per share of $1.00 for the quarter, down from their previous forecast of $1.10.
Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The company earned $559 million during the quarter, compared to analysts’ expectations of $548 million. Nasdaq had a return on equity of 10.76% and a net margin of 13.79%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 earnings per share.
Several other research firms have also issued reports on NDAQ. Barclays PLC set a $79.00 price objective on Nasdaq and gave the company a “buy” rating in a research note on Wednesday, September 7th. Credit Suisse Group AG reissued a “buy” rating and set a $72.00 price objective on shares of Nasdaq in a research note on Monday, August 8th. Keefe, Bruyette & Woods lifted their price objective on Nasdaq from $70.00 to $74.00 and gave the company a “market perform” rating in a research note on Thursday, July 28th. Jefferies Group lifted their price objective on Nasdaq from $58.00 to $68.00 and gave the company a “hold” rating in a research note on Thursday, July 28th. Finally, Deutsche Bank AG lifted their price objective on Nasdaq from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Nasdaq currently has a consensus rating of “Hold” and a consensus target price of $70.26.
Shares of Nasdaq (NASDAQ:NDAQ) opened at 67.24 on Monday. Nasdaq has a 52 week low of $54.62 and a 52 week high of $71.92. The firm has a market cap of $11.13 billion, a PE ratio of 23.28 and a beta of 0.81. The stock has a 50 day moving average price of $68.97 and a 200 day moving average price of $66.70.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.90%. Nasdaq’s dividend payout ratio is presently 44.44%.
In related news, insider Edward S. Knight sold 19,555 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $70.40, for a total transaction of $1,376,672.00. Following the transaction, the insider now owns 76,407 shares in the company, valued at approximately $5,379,052.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Pc Nelson Griggs sold 2,945 shares of the business’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $71.52, for a total value of $210,626.40. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Investment Management Company LLC increased its position in shares of 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 increased its position in 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 increased 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 worth $618,000 after buying an additional 25 shares during the period. Mackenzie Financial Corp increased its position in 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 increased its position in 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 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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