Nasdaq (NASDAQ:NDAQ) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Nasdaq (NASDAQ:NDAQ) announced its quarterly earnings results on Thursday. The financial services provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02), Briefing.com reports. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. Nasdaq had a net margin of 17.48% and a return on equity of 19.28%. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.69 EPS.

Nasdaq Stock Down 0.3 %

Shares of Nasdaq stock traded down $0.17 during midday trading on Friday, hitting $60.12. The company’s stock had a trading volume of 4,792,085 shares, compared to its average volume of 3,181,565. The firm has a market capitalization of $34.58 billion, a P/E ratio of 28.48, a PEG ratio of 2.82 and a beta of 0.93. Nasdaq has a 1-year low of $46.88 and a 1-year high of $64.25. 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 stock has a 50-day simple moving average of $59.84 and a 200-day simple moving average of $56.39.

Nasdaq Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.24 dividend. This is a positive change from Nasdaq’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.96 dividend on an annualized basis and a yield of 1.60%. Nasdaq’s dividend payout ratio (DPR) is currently 41.71%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Citigroup boosted their target price on Nasdaq from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, January 12th. Keefe, Bruyette & Woods lowered their price objective on Nasdaq from $75.00 to $74.00 and set an “outperform” rating for the company in a research note on Friday. The Goldman Sachs Group raised shares of Nasdaq from a “neutral” rating to a “buy” rating and set a $73.00 target price on the stock in a report on Tuesday, March 26th. Rosenblatt Securities decreased their target price on shares of Nasdaq from $82.00 to $76.00 and set a “buy” rating for the company in a research report on Friday. Finally, Piper Sandler boosted their target price on Nasdaq from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.92.

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.