Zacks: Analysts Anticipate Nasdaq Inc (NDAQ) Will Post Quarterly Sales of $598.19 Million
Wall Street brokerages predict that Nasdaq Inc (NASDAQ:NDAQ) will announce sales of $598.19 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Nasdaq’s earnings. The lowest sales estimate is $591.77 million and the highest is $602 million. Nasdaq reported sales of $559 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 7%. The firm is expected to issue its next quarterly earnings results on Wednesday, July 26th.
On average, analysts expect that Nasdaq will report full year sales of $598.19 million for the current financial year, with estimates ranging from $2.37 billion to $2.41 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.51 billion per share, with estimates ranging from $2.48 billion to $2.55 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Nasdaq.
Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.05. The company had revenue of $583 million for the quarter, compared to the consensus estimate of $593.46 million. Nasdaq had a net margin of 2.94% and a return on equity of 10.99%. Nasdaq’s revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 earnings per share.
NDAQ has been the subject of a number of analyst reports. Deutsche Bank AG reduced 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 stock a “hold” rating in a research note on Friday, April 21st. Zacks Investment Research upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th. 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. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $73.11.
Nasdaq (NASDAQ:NDAQ) opened at 67.58 on Friday. Nasdaq has a 1-year low of $61.19 and a 1-year high of $72.52. The firm’s 50-day moving average is $68.31 and its 200-day moving average is $68.43. The stock has a market cap of $11.16 billion, a P/E ratio of 78.76 and a beta of 0.89.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be given a dividend of $0.38 per share. The ex-dividend date is Wednesday, June 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.25%. This is a positive change from Nasdaq’s previous quarterly dividend of $0.32. Nasdaq’s payout ratio is 206.45%.
In related news, Director Lars Wedenborn sold 10,000 shares of the business’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $68.38, for a total transaction of $683,800.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Nordea Investment Management AB raised its position in shares of Nasdaq by 74.1% in the third quarter. Nordea Investment Management AB now owns 92,914 shares of the financial services provider’s stock worth $6,275,000 after buying an additional 39,546 shares during the period. Polaris Greystone Financial Group LLC raised its position in shares of Nasdaq by 6.0% in the third quarter. Polaris Greystone Financial Group LLC now owns 261,996 shares of the financial services provider’s stock worth $17,695,000 after buying an additional 14,758 shares during the period. Commerce Bank raised its position in shares of Nasdaq by 4.9% in the third quarter. Commerce Bank now owns 264,131 shares of the financial services provider’s stock worth $17,839,000 after buying an additional 12,345 shares during the period. Redwood Investments LLC raised its position in shares of Nasdaq by 21.9% in the third quarter. Redwood Investments LLC now owns 281,442 shares of the financial services provider’s stock worth $19,009,000 after buying an additional 50,515 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Nasdaq by 1.2% in the third quarter. Principal Financial Group Inc. now owns 183,143 shares of the financial services provider’s stock worth $12,369,000 after buying an additional 2,165 shares during the period. 73.64% of the stock is currently owned by institutional investors and hedge funds.
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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