$601.95 Million in Sales Expected for Nasdaq, Inc. (NDAQ) This Quarter
Wall Street analysts expect Nasdaq, Inc. (NASDAQ:NDAQ) to announce $601.95 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Nasdaq’s earnings. The lowest sales estimate is $599.79 million and the highest is $606.00 million. Nasdaq posted sales of $585.00 million in the same quarter last year, which would indicate a positive year over year growth rate of 2.9%. The business is expected to report its next earnings report before the market opens on Wednesday, October 25th.
According to Zacks, analysts expect that Nasdaq will report full year sales of $601.95 million for the current financial year, with estimates ranging from $2.40 billion to $2.42 billion. For the next financial year, analysts forecast that the firm will report sales of $2.55 billion per share, with estimates ranging from $2.50 billion to $2.58 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Nasdaq.
Nasdaq (NASDAQ:NDAQ) last released its earnings results on Wednesday, July 26th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.06. The firm had revenue of $602.00 million during the quarter, compared to analysts’ expectations of $596.55 million. Nasdaq had a return on equity of 12.19% and a net margin of 5.76%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS.
Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods set a $76.00 target price on shares of Nasdaq and gave the stock a “hold” rating in a research report on Thursday, August 17th. BidaskClub raised shares of Nasdaq from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Citigroup Inc. boosted their target price on shares of Nasdaq from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday. UBS AG reissued 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. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $76.00 target price on shares of Nasdaq in a research report on Monday, September 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $77.50.
In other Nasdaq news, insider Ann M. Dennison sold 1,170 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $76.32, for a total value of $89,294.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lars Wedenborn sold 3,045 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $76.13, for a total transaction of $231,815.85. 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 ninety days. 1.60% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Palo Capital Inc. boosted its stake in Nasdaq by 0.4% in the second quarter. Palo Capital Inc. now owns 10,759 shares of the financial services provider’s stock valued at $769,000 after acquiring an additional 45 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Nasdaq by 0.4% in the second quarter. CIBC Asset Management Inc now owns 12,260 shares of the financial services provider’s stock valued at $876,000 after acquiring an additional 50 shares during the last quarter. Stanley Laman Group Ltd. boosted its stake in Nasdaq by 0.6% in the second quarter. Stanley Laman Group Ltd. now owns 9,457 shares of the financial services provider’s stock valued at $676,000 after acquiring an additional 57 shares during the last quarter. Thrivent Financial For Lutherans boosted its stake in Nasdaq by 2.4% in the second quarter. Thrivent Financial For Lutherans now owns 4,330 shares of the financial services provider’s stock valued at $310,000 after acquiring an additional 100 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in Nasdaq by 0.8% in the second quarter. Oppenheimer & Co. Inc. now owns 15,438 shares of the financial services provider’s stock valued at $1,104,000 after acquiring an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 74.44% of the company’s stock.
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Nasdaq (NDAQ) opened at 72.92 on Friday. The firm’s 50-day moving average price is $75.42 and its 200-day moving average price is $72.14. The company has a market cap of $12.16 billion, a PE ratio of 55.41 and a beta of 0.77. Nasdaq has a 12-month low of $63.30 and a 12-month high of $78.31.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Thursday, September 14th. Nasdaq’s payout ratio is 118.75%.
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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