Nasdaq, Inc. (NDAQ) Downgraded by BidaskClub
Nasdaq, Inc. (NASDAQ:NDAQ) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
Other analysts have also issued research reports about the company. Royal Bank Of Canada restated a “sector perform” rating and issued a $71.00 price objective on shares of Nasdaq in a research note on Thursday, March 30th. Deutsche Bank AG restated a “buy” rating and issued a $77.00 price objective (down previously from $79.00) on shares of Nasdaq in a research note on Monday, May 15th. Zacks Investment Research upgraded 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. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Nasdaq presently has a consensus rating of “Hold” and a consensus price target of $73.11.
Shares of Nasdaq (NASDAQ NDAQ) traded up 0.47% on Friday, hitting $69.86. The company had a trading volume of 897,979 shares. The firm has a market capitalization of $11.54 billion, a P/E ratio of 81.42 and a beta of 0.76. The firm has a 50 day moving average of $68.46 and a 200-day moving average of $68.99. Nasdaq has a 12-month low of $61.19 and a 12-month high of $72.52.
Nasdaq (NASDAQ:NDAQ) last released its earnings results on Wednesday, April 26th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.05. Nasdaq had a return on equity of 11.77% and a net margin of 3.87%. The business had revenue of $583 million for the quarter, compared to analyst estimates of $593.46 million. During the same quarter in the prior year, the company posted $0.91 earnings per share. Nasdaq’s revenue was up 9.2% on a year-over-year basis. On average, equities analysts predict that Nasdaq will post $4.12 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be given a $0.38 dividend. This is an increase from Nasdaq’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, June 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.18%. Nasdaq’s dividend payout ratio is presently 183.13%.
In other 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 value of $683,800.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its position in 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 valued at $1,069,202,000 after buying an additional 146,050 shares during the last quarter. Vanguard Group Inc. increased its position in Nasdaq by 3.8% in the first quarter. Vanguard Group Inc. now owns 11,262,495 shares of the financial services provider’s stock valued at $782,180,000 after buying an additional 416,910 shares during the last quarter. BlackRock Inc. increased its position in Nasdaq by 3,831.1% in the first quarter. BlackRock Inc. now owns 9,546,334 shares of the financial services provider’s stock valued at $662,992,000 after buying an additional 9,303,493 shares during the last quarter. State Street Corp increased its position in Nasdaq by 0.4% in the first quarter. State Street Corp now owns 5,296,709 shares of the financial services provider’s stock valued at $367,865,000 after buying an additional 20,813 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in Nasdaq by 13.1% in the first quarter. Clearbridge Investments LLC now owns 3,094,734 shares of the financial services provider’s stock valued at $214,929,000 after buying an additional 358,414 shares during the last quarter. 75.13% of the stock is currently owned by institutional investors.
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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