Nasdaq, Inc. (NASDAQ:NDAQ) announced its quarterly earnings data on Wednesday. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06, Morningstar.com reports. The business had revenue of $602 million for the quarter, compared to analysts’ expectations of $596.55 million. Nasdaq had a net margin of 3.87% and a return on equity of 11.77%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $0.91 earnings per share.
Shares of Nasdaq (NASDAQ NDAQ) traded up 1.47% during trading on Wednesday, hitting $73.81. 278,941 shares of the stock were exchanged. The firm has a market capitalization of $12.19 billion, a price-to-earnings ratio of 86.03 and a beta of 0.76. Nasdaq has a 52 week low of $63.30 and a 52 week high of $73.81. The stock’s 50 day moving average price is $70.94 and its 200 day moving average price is $69.60.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.09%. Nasdaq’s dividend payout ratio is currently 183.13%.
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A number of research analysts recently issued reports on the stock. UBS AG reissued a “buy” rating and issued a $81.00 price objective (down from $85.00) on shares of Nasdaq in a research note on Friday, April 28th. BidaskClub cut shares of Nasdaq from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Citigroup Inc. assumed coverage on shares of Nasdaq in a research note on Wednesday, July 12th. They issued a “neutral” rating and a $72.00 price objective on the stock. Zacks Investment Research raised shares of Nasdaq from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $71.00 price objective on shares of Nasdaq in a research note on Thursday, March 30th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $74.00.
In other Nasdaq news, Director Lars Wedenborn sold 10,000 shares of the firm’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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in NDAQ. Nikko Asset Management Americas Inc. raised its stake 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 worth $618,000 after buying an additional 3,500 shares in the last quarter. Nomura Holdings Inc. raised its stake in Nasdaq by 109.8% in the first quarter. Nomura Holdings Inc. now owns 5,364 shares of the financial services provider’s stock worth $373,000 after buying an additional 60,176 shares in the last quarter. Ibex Wealth Advisors raised its stake in Nasdaq by 4.0% in the fourth quarter. Ibex Wealth Advisors now owns 21,300 shares of the financial services provider’s stock worth $1,435,000 after buying an additional 828 shares in the last quarter. Rothschild Asset Management Inc. raised its stake in Nasdaq by 4.3% in the first quarter. Rothschild Asset Management Inc. now owns 9,442 shares of the financial services provider’s stock worth $656,000 after buying an additional 388 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake 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 worth $24,543,000 after buying an additional 10,793 shares in the last quarter. Institutional investors and hedge funds own 75.50% 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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