Zacks: Analysts Anticipate Nasdaq Inc (NDAQ) Will Post Quarterly Sales of $598.19 Million
Wall Street brokerages expect that Nasdaq Inc (NASDAQ:NDAQ) will report $598.19 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Nasdaq’s earnings. The lowest sales estimate is $591.77 million and the highest is $602 million. Nasdaq reported sales of $559 million during the same quarter last year, which indicates a positive year over year growth rate of 7%. The business is expected to announce its next earnings report on Wednesday, July 26th.
On average, analysts expect that Nasdaq will report full year sales of $598.19 million for the current fiscal year, with estimates ranging from $2.37 billion to $2.41 billion. For the next financial year, analysts forecast that the business will report sales of $2.51 billion per share, with estimates ranging from $2.48 billion to $2.55 billion. Zacks’ sales averages are an average based on a survey of research analysts that follow Nasdaq.
Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.05. Nasdaq had a net margin of 2.94% and a return on equity of 10.99%. The business had revenue of $583 million for the quarter, compared to analyst estimates of $593.46 million. During the same period in the previous year, the business posted $0.91 earnings per share. The business’s revenue was up 9.2% compared to the same quarter last year.
Several analysts recently weighed in on NDAQ shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $71.00 price objective on shares of Nasdaq in a research report on Thursday, March 30th. Zacks Investment Research downgraded shares of Nasdaq from a “hold” rating to a “sell” rating in a research report on Tuesday, April 4th. Jefferies Group LLC reiterated a “hold” rating and issued a $68.00 price objective on shares of Nasdaq in a research report on Monday, April 10th. Deutsche Bank AG cut their price objective on shares of Nasdaq from $80.00 to $79.00 and set a “buy” rating on the stock in a research report on Friday, April 28th. Finally, Evercore ISI reiterated an “in-line” rating and issued a $74.00 price objective on shares of Nasdaq in a research report on Friday, April 28th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Nasdaq presently has an average rating of “Hold” and a consensus target price of $73.11.
Nasdaq (NASDAQ:NDAQ) opened at 67.58 on Friday. The stock’s 50 day moving average is $68.31 and its 200-day moving average is $68.43. Nasdaq has a 52 week low of $61.19 and a 52 week high of $72.52. The firm has a market capitalization of $11.16 billion, a price-to-earnings ratio of 78.76 and a beta of 0.89.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.25%. This is an increase from Nasdaq’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, June 14th. Nasdaq’s payout ratio is 206.45%.
In other Nasdaq news, Director Lars Wedenborn sold 10,000 shares of the business’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $68.38, for a total transaction of $683,800.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.20% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in NDAQ. FUKOKU MUTUAL LIFE INSURANCE Co bought a new stake in Nasdaq during the fourth quarter worth approximately $121,000. Tompkins Financial Corp bought a new stake in Nasdaq during the first quarter worth approximately $143,000. Pacer Advisors Inc. increased its stake in Nasdaq by 3.4% in the first quarter. Pacer Advisors Inc. now owns 2,365 shares of the financial services provider’s stock worth $164,000 after buying an additional 77 shares during the period. Advisory Services Network LLC bought a new stake in Nasdaq during the first quarter worth approximately $189,000. Finally, Ameritas Investment Partners Inc. bought a new stake in Nasdaq during the first quarter worth approximately $190,000. Institutional investors own 73.64% of the company’s stock.
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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