Nasdaq (NDAQ) Set to Announce Quarterly Earnings on Thursday

Nasdaq (NASDAQ:NDAQ) will be issuing its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $0.64 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Nasdaq had a return on equity of 19.28% and a net margin of 17.48%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the firm earned $0.64 EPS. Nasdaq’s quarterly revenue was up 21.4% on a year-over-year basis. On average, analysts expect Nasdaq to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Nasdaq Price Performance

Shares of NASDAQ NDAQ opened at $60.01 on Thursday. Nasdaq has a fifty-two week low of $46.88 and a fifty-two week high of $64.25. The business has a 50 day moving average price of $59.30 and a two-hundred day moving average price of $55.93. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.94. The firm has a market cap of $34.52 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 2.74 and a beta of 0.93.

Nasdaq Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 1.47%. Nasdaq’s payout ratio is 41.71%.

Insider Buying and Selling at Nasdaq

In other news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the completion of the transaction, the insider now owns 58,341,545 shares in the company, valued at approximately $3,383,809,610. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Nasdaq news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the completion of the sale, the insider now directly owns 58,341,545 shares of the company’s stock, valued at $3,383,809,610. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Bryan Everard Smith sold 7,400 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $62.91, for a total transaction of $465,534.00. Following the sale, the executive vice president now directly owns 61,672 shares of the company’s stock, valued at $3,879,785.52. The disclosure for this sale can be found here. 0.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nasdaq

Hedge funds have recently added to or reduced their stakes in the company. CENTRAL TRUST Co increased its holdings in Nasdaq by 238.2% in the third quarter. CENTRAL TRUST Co now owns 3,558 shares of the financial services provider’s stock worth $202,000 after buying an additional 2,506 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in Nasdaq by 162.5% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,570 shares of the financial services provider’s stock worth $202,000 after buying an additional 2,210 shares during the last quarter. Horizon Investments LLC increased its holdings in Nasdaq by 8.3% in the first quarter. Horizon Investments LLC now owns 1,120 shares of the financial services provider’s stock worth $200,000 after buying an additional 86 shares during the last quarter. Covestor Ltd increased its holdings in Nasdaq by 132.1% in the first quarter. Covestor Ltd now owns 745 shares of the financial services provider’s stock worth $133,000 after buying an additional 424 shares during the last quarter. Finally, Clearstead Advisors LLC grew its holdings in Nasdaq by 224.1% during the third quarter. Clearstead Advisors LLC now owns 2,262 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 1,564 shares during the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Morgan Stanley upgraded Nasdaq from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $59.00 to $80.00 in a research report on Tuesday, April 9th. Oppenheimer lifted their target price on Nasdaq from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Piper Sandler lifted their target price on Nasdaq from $70.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. UBS Group boosted their price objective on Nasdaq from $56.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Finally, Citigroup boosted their price objective on Nasdaq from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, January 12th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $67.09.

About Nasdaq

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.