$599.45 Million in Sales Expected for Nasdaq, Inc. (NDAQ) This Quarter
Analysts expect Nasdaq, Inc. (NASDAQ:NDAQ) to report $599.45 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Nasdaq’s earnings, with the lowest sales estimate coming in at $593.00 million and the highest estimate coming in at $606.00 million. Nasdaq reported sales of $585.00 million during the same quarter last year, which indicates a positive year over year growth rate of 2.5%. The firm is scheduled to announce its next earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that Nasdaq will report full-year sales of $599.45 million for the current fiscal year, with estimates ranging from $2.38 billion to $2.42 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.52 billion per share, with estimates ranging from $2.49 billion to $2.56 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Nasdaq.
Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.06. Nasdaq had a net margin of 5.76% and a return on equity of 12.19%. The company had revenue of $602 million for the quarter, compared to the consensus estimate of $596.55 million. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year.
Several research firms have recently issued reports on NDAQ. BidaskClub upgraded Nasdaq from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Royal Bank Of Canada set a $74.00 target price on Nasdaq and gave the stock a “hold” rating in a research report on Monday, July 17th. Zacks Investment Research upgraded Nasdaq from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. Jefferies Group LLC restated a “hold” rating and set a $71.00 target price (up from $68.00) on shares of Nasdaq in a research report on Monday, July 17th. Finally, UBS AG restated a “buy” rating and set a $85.00 target price (up from $80.00) on shares of Nasdaq in a research report on Thursday, July 27th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $75.30.
In related news, Director Lars Wedenborn sold 3,045 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $76.13, for a total value of $231,815.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ann M. Dennison sold 1,170 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $76.32, for a total value of $89,294.40. The disclosure for this sale can be found here. Insiders sold a total of 36,844 shares of company stock valued at $2,788,100 over the last quarter. 1.60% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Nikko Asset Management Americas Inc. raised its position in shares of Nasdaq by 1,325.8% in the second quarter. Nikko Asset Management Americas Inc. now owns 126,900 shares of the financial services provider’s stock valued at $9,072,000 after buying an additional 118,000 shares in the last quarter. Advisor Partners LLC acquired a new position in shares of Nasdaq during the second quarter valued at about $214,000. Summit Securities Group LLC acquired a new position in shares of Nasdaq during the second quarter valued at about $645,000. Aperio Group LLC raised its position in shares of Nasdaq by 2.4% in the second quarter. Aperio Group LLC now owns 95,486 shares of the financial services provider’s stock valued at $6,826,000 after buying an additional 2,218 shares in the last quarter. Finally, NGAM Advisors L.P. raised its position in shares of Nasdaq by 16.4% in the second quarter. NGAM Advisors L.P. now owns 231,705 shares of the financial services provider’s stock valued at $16,564,000 after buying an additional 32,562 shares in the last quarter. Institutional investors and hedge funds own 75.44% of the company’s stock.
Shares of Nasdaq (NASDAQ:NDAQ) opened at 75.75 on Friday. The firm has a 50 day moving average of $74.13 and a 200 day moving average of $70.77. The stock has a market cap of $12.63 billion, a P/E ratio of 57.56 and a beta of 0.76. Nasdaq has a one year low of $63.30 and a one year high of $77.75.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.38 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.01%. Nasdaq’s dividend payout ratio is presently 118.75%.
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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