Jefferies Group Research Analysts Cut Earnings Estimates for Nasdaq Inc. (NDAQ)
Nasdaq Inc. (NASDAQ:NDAQ) – Equities research analysts at Jefferies Group lowered their Q3 2016 earnings per share (EPS) estimates for shares of Nasdaq in a research note issued to investors on Tuesday. Jefferies Group analyst D. Fannon now expects that the firm will earn $0.89 per share for the quarter, down from their previous forecast of $0.95. Jefferies Group currently has a “Hold” rating and a $68.00 target price on the stock. Jefferies Group also issued estimates for Nasdaq’s Q4 2016 earnings at $0.98 EPS, FY2016 earnings at $3.69 EPS, Q1 2017 earnings at $1.00 EPS, Q2 2017 earnings at $1.03 EPS, Q3 2017 earnings at $1.03 EPS, Q4 2017 earnings at $1.08 EPS and FY2017 earnings at $4.15 EPS.
Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.03. The business earned $559 million during the quarter, compared to the consensus estimate of $548 million. Nasdaq had a return on equity of 10.76% and a net margin of 13.79%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 earnings per share.
Other research analysts have also issued research reports about the stock. Barclays PLC lowered shares of Nasdaq to an “overweight” rating and upped their price objective for the company from $79.00 to $80.00 in a research report on Thursday, September 8th. Deutsche Bank AG increased their price target on shares of Nasdaq from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, July 18th. Zacks Investment Research lowered shares of Nasdaq from a “hold” rating to a “sell” rating in a research report on Tuesday, June 28th. Credit Suisse Group AG reissued a “buy” rating and issued a $72.00 price target on shares of Nasdaq in a research report on Monday, August 8th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Nasdaq from $70.00 to $74.00 and gave the stock a “market perform” rating in a research report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $70.42.
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Shares of Nasdaq (NASDAQ:NDAQ) traded up 0.32% during trading on Thursday, hitting $66.67. The stock had a trading volume of 484,528 shares. The stock has a market cap of $11.03 billion, a price-to-earnings ratio of 23.09 and a beta of 0.81. The stock’s 50-day moving average price is $69.16 and its 200 day moving average price is $66.68. Nasdaq has a one year low of $53.70 and a one year high of $71.92.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a dividend of $0.32 per share. The ex-dividend date was Wednesday, September 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.93%. Nasdaq’s dividend payout ratio (DPR) is currently 44.44%.
In other Nasdaq news, CEO Robert Greifeld sold 18,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $70.66, for a total value of $1,278,946.00. Following the transaction, the chief executive officer now directly owns 1,008,635 shares of the company’s stock, valued at $71,270,149.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Pc Nelson Griggs sold 2,945 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $71.52, for a total transaction of $210,626.40. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in NDAQ. Vanguard Group Inc. boosted its position in shares of Nasdaq by 4.0% in the second quarter. Vanguard Group Inc. now owns 10,535,832 shares of the company’s stock worth $681,353,000 after buying an additional 407,297 shares during the last quarter. State Street Corp boosted its position in shares of Nasdaq by 0.7% in the first quarter. State Street Corp now owns 4,843,763 shares of the company’s stock worth $321,526,000 after buying an additional 34,705 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of Nasdaq by 0.3% in the second quarter. BlackRock Fund Advisors now owns 2,019,972 shares of the company’s stock worth $130,632,000 after buying an additional 5,199 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Nasdaq by 10.2% in the second quarter. AQR Capital Management LLC now owns 1,945,700 shares of the company’s stock worth $125,829,000 after buying an additional 180,431 shares during the last quarter. Finally, Janus Capital Management LLC boosted its position in shares of Nasdaq by 2.9% in the second quarter. Janus Capital Management LLC now owns 1,603,551 shares of the company’s stock worth $103,702,000 after buying an additional 44,497 shares during the last quarter. 74.21% of the stock is currently owned by hedge funds and other institutional investors.
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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