Nasdaq, Inc. (NDAQ) Raised to Hold at BidaskClub
BidaskClub upgraded shares of Nasdaq, Inc. (NASDAQ:NDAQ) from a sell rating to a hold rating in a report issued on Thursday morning.
A number of other analysts have also weighed in on the company. Deutsche Bank AG dropped their price objective on 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 Nasdaq and gave the company a hold rating in a research note on Friday, April 21st. Zacks Investment Research lowered Nasdaq from a hold rating to a sell rating in a research note on Tuesday, April 4th. Evercore ISI reissued an in-line rating and set a $74.00 price objective on shares of Nasdaq in a research note on Friday, April 28th. Finally, Jefferies Group LLC reissued a hold rating and set a $68.00 price objective on shares of Nasdaq in a research note on Monday, April 10th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Nasdaq currently has an average rating of Hold and a consensus target price of $73.11.
Nasdaq (NASDAQ NDAQ) opened at 71.14 on Thursday. The company has a market cap of $11.75 billion, a price-to-earnings ratio of 82.91 and a beta of 0.76. Nasdaq has a 12-month low of $61.19 and a 12-month high of $72.52. The firm’s 50-day moving average is $68.41 and its 200 day moving average is $68.94.
Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.05. The firm had revenue of $583 million during the quarter, compared to analyst estimates of $593.46 million. Nasdaq had a return on equity of 11.77% and a net margin of 3.87%. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 earnings per share. On average, equities analysts expect that Nasdaq will post $4.12 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Wednesday, June 14th. This is an increase from Nasdaq’s previous quarterly dividend of $0.32. Nasdaq’s dividend payout ratio is currently 183.13%.
In related news, Director Lars Wedenborn sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $68.38, for a total transaction of $683,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA increased its position in shares of Nasdaq by 1.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 15,395,293 shares of the financial services provider’s stock worth $1,069,202,000 after buying an additional 146,050 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Nasdaq by 3.8% in the first quarter. Vanguard Group Inc. now owns 11,262,495 shares of the financial services provider’s stock worth $782,180,000 after buying an additional 416,910 shares in the last quarter. BlackRock Inc. increased its position in shares of Nasdaq by 3,831.1% in the first quarter. BlackRock Inc. now owns 9,546,334 shares of the financial services provider’s stock worth $662,992,000 after buying an additional 9,303,493 shares in the last quarter. State Street Corp increased its position in shares of Nasdaq by 0.4% in the first quarter. State Street Corp now owns 5,296,709 shares of the financial services provider’s stock worth $367,865,000 after buying an additional 20,813 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Nasdaq by 13.1% in the first quarter. Clearbridge Investments LLC now owns 3,094,734 shares of the financial services provider’s stock worth $214,929,000 after buying an additional 358,414 shares in the last quarter. Institutional investors own 75.13% of the company’s stock.
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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