Zacks Investment Research Lowers Nasdaq, Inc. (NDAQ) to Sell
Nasdaq, Inc. (NASDAQ:NDAQ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
According to Zacks, “Shares of Nasdaq underperformed the Zacks categorized Securities Exchanges industry, quarter to date. The company’s elevated expenses restrict the desired margin expansion. Among others, intense competition and regulatory issues remain key concerns. Nonetheless, Nasdaq remains focused on growth through acquisitions and organic initiatives that enable entry and cross-selling opportunities into new markets at a low-cost and highly-flexible platform. The company displays its prudence by accelerating its non-transaction revenue base. Notably, Nasdaq realigned its reporting segments to better reflect client orientation, rebranded its fixed income business and has decided to end its NLX interest rate futures business as well. Also, strong performances aid dividend increase.”
Several other analysts have also recently commented on NDAQ. Royal Bank Of Canada restated a “sector perform” rating and set a $71.00 price objective on shares of Nasdaq in a research note on Thursday, March 30th. Jefferies Group LLC restated a “hold” rating and set a $68.00 price objective on shares of Nasdaq in a research note on Monday, April 10th. Deutsche Bank AG decreased 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. Evercore ISI restated an “in-line” rating and set a $74.00 price objective on shares of Nasdaq in a research note on Friday, April 28th. Finally, BidaskClub upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Nasdaq currently has an average rating of “Hold” and a consensus price target of $73.11.
Nasdaq (NASDAQ:NDAQ) traded up 0.87% on Tuesday, reaching $70.91. 277,067 shares of the company’s stock traded hands. The stock has a market cap of $11.71 billion, a price-to-earnings ratio of 82.65 and a beta of 0.76. The stock has a 50 day moving average price of $68.46 and a 200 day moving average price 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 for the quarter, topping the 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 3.87% and a return on equity of 11.77%. Nasdaq’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 EPS. Analysts forecast 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. Investors of record on Friday, June 16th will be paid a $0.38 dividend. This is a boost from Nasdaq’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Wednesday, June 14th. Nasdaq’s payout ratio is currently 183.13%.
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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 value of $683,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.60% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Clearbridge Investments LLC boosted 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 in the last quarter. Ibex Wealth Advisors boosted its position in Nasdaq by 7.1% in the first quarter. Ibex Wealth Advisors now owns 22,814 shares of the financial services provider’s stock valued at $1,576,000 after buying an additional 1,514 shares in the last quarter. Achmea Investment Management B.V. purchased a new position in Nasdaq during the first quarter valued at about $804,000. Bank of Nova Scotia boosted its position in Nasdaq by 26.6% in the first quarter. Bank of Nova Scotia now owns 112,686 shares of the financial services provider’s stock valued at $7,826,000 after buying an additional 23,686 shares in the last quarter. Finally, Meridian Wealth Management LLC purchased a new position in Nasdaq during the first quarter valued at about $337,000. Hedge funds and other institutional investors own 75.13% of the company’s stock.
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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