Nasdaq (NDAQ) Downgraded to “Strong Sell” at BidaskClub

BidaskClub lowered shares of Nasdaq (NASDAQ:NDAQ) from a sell rating to a strong sell rating in a report published on Tuesday morning.

NDAQ has been the subject of several other reports. Zacks Investment Research raised Nasdaq from a sell rating to a buy rating and set a $101.00 price target for the company in a report on Tuesday, September 25th. Citigroup decreased their price target on Nasdaq from $95.00 to $93.00 and set a neutral rating for the company in a report on Thursday, October 11th. UBS Group increased their price target on Nasdaq from $101.00 to $107.00 and gave the stock a buy rating in a report on Thursday, July 26th. Jefferies Financial Group reaffirmed a hold rating and set a $90.00 price target on shares of Nasdaq in a report on Friday, July 13th. Finally, Raymond James increased their price target on Nasdaq from $94.00 to $100.00 and gave the stock an outperform rating in a report on Tuesday, July 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $96.00.

Shares of NASDAQ NDAQ opened at $81.93 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.93 and a quick ratio of 0.93. Nasdaq has a 1-year low of $71.65 and a 1-year high of $96.84. The firm has a market cap of $14.11 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.86 and a beta of 0.65.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $1.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.01. Nasdaq had a return on equity of 13.40% and a net margin of 18.13%. The firm had revenue of $615.00 million during the quarter, compared to the consensus estimate of $620.25 million. During the same period last year, the company earned $1.02 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, sell-side analysts predict that Nasdaq will post 4.82 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Thursday, September 13th. Nasdaq’s dividend payout ratio (DPR) is currently 43.35%.

In other Nasdaq news, insider Bradley J. Peterson sold 1,500 shares of the firm’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $93.34, for a total value of $140,010.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.40% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in NDAQ. Baird Financial Group Inc. purchased a new position in shares of Nasdaq in the first quarter valued at $214,000. Commonwealth Equity Services LLC increased its position in shares of Nasdaq by 31.9% in the first quarter. Commonwealth Equity Services LLC now owns 6,537 shares of the financial services provider’s stock valued at $563,000 after buying an additional 1,580 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Nasdaq in the first quarter valued at $259,000. Blair William & Co. IL increased its position in shares of Nasdaq by 16.9% in the first quarter. Blair William & Co. IL now owns 4,767 shares of the financial services provider’s stock valued at $411,000 after buying an additional 688 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Nasdaq by 5.5% in the first quarter. The Manufacturers Life Insurance Company now owns 144,133 shares of the financial services provider’s stock valued at $12,427,000 after buying an additional 7,563 shares in the last quarter. Institutional investors and hedge funds own 75.67% of the company’s stock.

About Nasdaq

Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.

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