Nasdaq, Inc. (NDAQ) Coverage Initiated at Citigroup Inc.
Investment analysts at Citigroup Inc. initiated coverage on shares of Nasdaq, Inc. (NASDAQ:NDAQ) in a research note issued to investors on Wednesday. The firm set a “neutral” rating and a $72.00 price target on the financial services provider’s stock. Citigroup Inc.’s price objective would indicate a potential upside of 0.64% from the stock’s previous close.
A number of other equities research analysts also recently commented on NDAQ. Jefferies Group LLC reiterated a “hold” rating and issued a $68.00 price objective on shares of Nasdaq in a report on Monday, April 10th. BidaskClub raised Nasdaq from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Evercore ISI reissued an “in-line” rating and issued a $74.00 target price on shares of Nasdaq in a research note on Friday, April 28th. Zacks Investment Research raised Nasdaq from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th. Finally, Royal Bank Of Canada boosted their target price on Nasdaq from $70.00 to $74.00 and gave the company a “sector perform” rating in a research note on Thursday, April 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $73.00.
Nasdaq (NDAQ) traded down 0.56% during trading on Wednesday, hitting $71.14. The company had a trading volume of 353,603 shares. Nasdaq has a 12-month low of $63.30 and a 12-month high of $72.52. The company has a market capitalization of $11.75 billion, a price-to-earnings ratio of 82.91 and a beta of 0.76. The firm has a 50-day moving average of $69.05 and a 200 day moving average of $69.14.
Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.05. The business had revenue of $583 million during the quarter, compared to the consensus estimate of $593.46 million. Nasdaq had a return on equity of 11.77% and a net margin of 3.87%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 earnings per share. On average, equities research analysts forecast that Nasdaq will post $4.11 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were given a dividend of $0.38 per share. This is a boost from Nasdaq’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Wednesday, June 14th. Nasdaq’s dividend payout ratio is currently 183.13%.
In other news, Director Lars Wedenborn sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $68.38, for a total transaction of $683,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Nikko Asset Management Americas Inc. boosted its position in Nasdaq by 64.8% in the first quarter. Nikko Asset Management Americas Inc. now owns 8,900 shares of the financial services provider’s stock valued at $618,000 after buying an additional 3,500 shares in the last quarter. Nomura Holdings Inc. boosted its position in Nasdaq by 109.8% in the first quarter. Nomura Holdings Inc. now owns 5,364 shares of the financial services provider’s stock valued at $373,000 after buying an additional 60,176 shares in the last quarter. Ibex Wealth Advisors boosted its position in Nasdaq by 4.0% in the fourth quarter. Ibex Wealth Advisors now owns 21,300 shares of the financial services provider’s stock valued at $1,435,000 after buying an additional 828 shares in the last quarter. Majedie Asset Management Ltd boosted its position in Nasdaq by 44.4% in the first quarter. Majedie Asset Management Ltd now owns 90,735 shares of the financial services provider’s stock valued at $6,302,000 after buying an additional 27,916 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in Nasdaq by 3.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 353,390 shares of the financial services provider’s stock valued at $24,543,000 after buying an additional 10,793 shares in the last quarter. 74.56% of the stock is owned by institutional investors.
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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