Nasdaq, Inc. (NASDAQ:NDAQ) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS
Nasdaq, Inc. (NASDAQ:NDAQ) announced its quarterly earnings results on Wednesday. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.06, Morningstar.com reports. The business had revenue of $602 million for the quarter, compared to the consensus estimate of $596.55 million. Nasdaq had a return on equity of 11.77% and a net margin of 3.87%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS.
Shares of Nasdaq (NDAQ) traded up 1.47% during mid-day trading on Wednesday, hitting $73.81. The stock had a trading volume of 278,941 shares. The stock has a market capitalization of $12.19 billion, a price-to-earnings ratio of 86.03 and a beta of 0.76. The stock’s 50-day moving average price is $70.94 and its 200-day moving average price is $69.60. Nasdaq has a 12-month low of $63.30 and a 12-month high of $73.81.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.09%. Nasdaq’s payout ratio is 183.13%.
In other news, Director Lars Wedenborn sold 10,000 shares of the firm’s stock in a transaction that occurred 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 legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its position in shares of 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 in the last quarter. Vanguard Group Inc. boosted its position in shares of 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 in the last quarter. BlackRock Inc. boosted its position in shares of 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 in the last quarter. State Street Corp boosted its position in shares of 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 in the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of 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. 75.50% of the stock is currently owned by institutional investors.
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NDAQ has been the topic of several recent research reports. BidaskClub raised Nasdaq from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Deutsche Bank AG lowered their target price on Nasdaq from $80.00 to $79.00 and set a “buy” rating on the stock in a research report on Friday, April 28th. Zacks Investment Research cut Nasdaq from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Finally, Royal Bank Of Canada set a $70.00 target price on Nasdaq and gave the company a “hold” rating in a research report on Friday, April 21st. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $74.00.
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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