Zacks Investment Research cut shares of Nasdaq (NASDAQ:NDAQ) from a buy rating to a hold rating in a research report released on Tuesday, March 13th.
According to Zacks, “Shares of Nasdaq have outperformed the industry year to date. It remains focused on growth through acquisitions and organic initiatives, enabling entry and cross-selling opportunities into new markets on a low-cost and highly-flexible platform. It displays prudence by accelerating its non-transaction revenue base. Nasdaq reviews its operations to accelerate the growth trajectory and intends to lower capital resources in business that do not offer considerable growth. A healthy balance sheet and cash position aid in de-leveraging the company, investing in its growth initiatives and engaging in shareholder-friendly moves. However, its elevated expenses restrict the desired margin expansion. Intense competition and regulatory issues remain key concerns. The company estimates 2018 non-GAAP operating expenses in the range of $1.375-$1.415 billion. Nasdaq’s fourth-quarter bottom line beat the estimates on higher revenues across segments.”
NDAQ has been the topic of a number of other reports. UBS reissued a buy rating and set a $100.00 price objective (up from $97.00) on shares of Nasdaq in a research report on Tuesday, March 6th. ValuEngine cut shares of Nasdaq from a buy rating to a hold rating in a research note on Wednesday, December 20th. BidaskClub cut shares of Nasdaq from a hold rating to a sell rating in a research note on Wednesday, December 20th. Wells Fargo reaffirmed a market perform rating and set a $83.00 price target (up previously from $77.00) on shares of Nasdaq in a research report on Wednesday, January 10th. Finally, Deutsche Bank increased their target price on shares of Nasdaq from $89.00 to $90.00 and gave the stock a buy rating in a report on Tuesday, March 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $84.23.
Nasdaq stock opened at $84.15 on Tuesday. Nasdaq has a 12 month low of $65.98 and a 12 month high of $87.00. The firm has a market cap of $13,927.71, a PE ratio of 19.77, a PEG ratio of 1.79 and a beta of 0.70. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.05 and a quick ratio of 1.05.
Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Wednesday, January 31st. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.05. Nasdaq had a net margin of 18.49% and a return on equity of 12.75%. The business had revenue of $635.00 million during the quarter, compared to analyst estimates of $628.36 million. During the same period in the previous year, the business posted $0.95 earnings per share. Nasdaq’s revenue for the quarter was up 6.0% on a year-over-year basis. equities research analysts expect that Nasdaq will post 4.82 EPS for the current fiscal year.
Nasdaq declared that its board has initiated a stock repurchase plan on Monday, January 29th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, March 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.81%. Nasdaq’s dividend payout ratio is currently 35.19%.
In other Nasdaq news, Director Charlene T. Begley sold 4,017 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $81.37, for a total value of $326,863.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bradley J. Peterson sold 19,169 shares of Nasdaq stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $80.70, for a total value of $1,546,938.30. Following the sale, the insider now directly owns 32,214 shares of the company’s stock, valued at approximately $2,599,669.80. The disclosure for this sale can be found here. Insiders sold 42,837 shares of company stock worth $3,442,932 in the last quarter. 1.60% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC increased its position in shares of Nasdaq by 1.3% in the fourth quarter. SG Americas Securities LLC now owns 47,729 shares of the financial services provider’s stock valued at $3,667,000 after buying an additional 627 shares in the last quarter. Norinchukin Bank The increased its position in shares of Nasdaq by 15.5% during the third quarter. Norinchukin Bank The now owns 5,197 shares of the financial services provider’s stock worth $403,000 after purchasing an additional 696 shares in the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of Nasdaq by 3.4% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 21,786 shares of the financial services provider’s stock worth $1,674,000 after purchasing an additional 726 shares in the last quarter. Mastrapasqua Asset Management Inc. increased its position in shares of Nasdaq by 1.8% during the third quarter. Mastrapasqua Asset Management Inc. now owns 48,572 shares of the financial services provider’s stock worth $3,768,000 after purchasing an additional 837 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its position in shares of Nasdaq by 6.0% during the fourth quarter. Mutual of America Capital Management LLC now owns 14,730 shares of the financial services provider’s stock worth $1,132,000 after purchasing an additional 838 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.
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Nasdaq Company Profile
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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