Nasdaq Inc. to Post Q3 2016 Earnings of $0.89 Per Share, Jefferies Group Forecasts (NDAQ)
Nasdaq Inc. (NASDAQ:NDAQ) – Research analysts at Jefferies Group dropped their Q3 2016 earnings per share (EPS) estimates for shares of Nasdaq in a report issued on Tuesday. Jefferies Group analyst D. Fannon now expects that the brokerage will earn $0.89 per share for the quarter, down from their previous forecast of $0.95. Jefferies Group currently has a “Hold” rating and a $68.00 target price on the stock. Jefferies Group also issued estimates for Nasdaq’s Q4 2016 earnings at $0.98 EPS, FY2016 earnings at $3.69 EPS, Q1 2017 earnings at $1.00 EPS, Q2 2017 earnings at $1.03 EPS, Q3 2017 earnings at $1.03 EPS, Q4 2017 earnings at $1.08 EPS and FY2017 earnings at $4.15 EPS.
NDAQ has been the subject of a number of other research reports. Deutsche Bank AG increased their price target on shares of Nasdaq from $76.00 to $77.00 and gave the company a “buy” rating in a report on Friday, September 9th. Zacks Investment Research downgraded shares of Nasdaq from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. Barclays PLC set a $79.00 price target on shares of Nasdaq and gave the company a “buy” rating in a report on Wednesday, September 7th. Evercore ISI downgraded shares of Nasdaq from a “buy” rating to a “hold” rating and lowered their price target for the company from $69.00 to $68.00 in a report on Tuesday, July 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Nasdaq from $64.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, July 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $70.26.
Shares of Nasdaq (NASDAQ:NDAQ) opened at 66.84 on Thursday. The stock has a 50 day moving average price of $69.06 and a 200-day moving average price of $66.68. Nasdaq has a 12 month low of $54.54 and a 12 month high of $71.92. The company has a market capitalization of $11.06 billion, a PE ratio of 23.14 and a beta of 0.81.
Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Nasdaq had a return on equity of 10.76% and a net margin of 13.79%. The firm had revenue of $559 million for the quarter, compared to analysts’ expectations of $548 million. During the same period in the previous year, the firm posted $0.83 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year.
Several hedge funds have recently modified their holdings of NDAQ. Vanguard Group Inc. raised its stake in shares of Nasdaq by 4.0% in the second quarter. Vanguard Group Inc. now owns 10,535,832 shares of the company’s stock worth $681,353,000 after buying an additional 407,297 shares during the period. State Street Corp raised its stake in shares of Nasdaq by 0.7% in the first quarter. State Street Corp now owns 4,843,763 shares of the company’s stock worth $321,526,000 after buying an additional 34,705 shares during the period. BlackRock Fund Advisors raised its stake in shares of Nasdaq by 0.3% in the second quarter. BlackRock Fund Advisors now owns 2,019,972 shares of the company’s stock worth $130,632,000 after buying an additional 5,199 shares during the period. AQR Capital Management LLC raised its stake in shares of Nasdaq by 10.2% in the second quarter. AQR Capital Management LLC now owns 1,945,700 shares of the company’s stock worth $125,829,000 after buying an additional 180,431 shares during the period. Finally, Janus Capital Management LLC raised its stake in shares of Nasdaq by 2.9% in the second quarter. Janus Capital Management LLC now owns 1,603,551 shares of the company’s stock worth $103,702,000 after buying an additional 44,497 shares during the period. Institutional investors and hedge funds own 74.21% of the company’s stock.
In related news, CEO Robert Greifeld sold 199,480 shares of Nasdaq stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $70.28, for a total value of $14,019,454.40. Following the completion of the sale, the chief executive officer now owns 1,064,815 shares in the company, valued at $74,835,198.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Pc Nelson Griggs sold 2,945 shares of Nasdaq stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $71.52, for a total transaction of $210,626.40. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a dividend of $0.32 per share. The ex-dividend date was Wednesday, September 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.92%. Nasdaq’s dividend payout ratio is currently 44.44%.
Nasdaq, Inc (Nasdaq), formerly The NASDAQ OMX Group, Inc, is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services across approximately six continents. The Company manages, operates and provides its products and services through four segments: Market Services, Listing Services, Information Services and Technology Solutions.
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