Royal Bank of Canada Reaffirms Outperform Rating for Nasdaq (NASDAQ:NDAQ)

Royal Bank of Canada reiterated their outperform rating on shares of Nasdaq (NASDAQ:NDAQ) in a report released on Friday, Benzinga reports. They currently have a $88.00 target price on the financial services provider’s stock.

A number of other equities analysts also recently commented on the company. Piper Sandler increased their price objective on Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Bank of America decreased their target price on shares of Nasdaq from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. The Goldman Sachs Group raised their price target on shares of Nasdaq from $77.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. UBS Group lifted their price objective on shares of Nasdaq from $73.00 to $79.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Finally, TD Cowen started coverage on shares of Nasdaq in a research report on Thursday, September 26th. They set a “hold” rating and a $83.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $79.47.

Nasdaq Stock Down 0.7 %

NDAQ stock opened at $74.69 on Friday. The company has a 50 day moving average of $72.56 and a two-hundred day moving average of $65.72. The company has a market cap of $42.96 billion, a price-to-earnings ratio of 39.31, a PEG ratio of 3.09 and a beta of 0.95. Nasdaq has a 12-month low of $47.56 and a 12-month high of $75.68. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.85.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company earned $0.71 earnings per share. Nasdaq’s quarterly revenue was up 21.9% compared to the same quarter last year. On average, equities analysts anticipate that Nasdaq will post 2.75 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.96 annualized dividend and a yield of 1.29%. Nasdaq’s payout ratio is 50.53%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Janney Montgomery Scott LLC raised its stake in Nasdaq by 7.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 240,851 shares of the financial services provider’s stock valued at $15,198,000 after purchasing an additional 16,797 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Nasdaq by 312.0% during the first quarter. SG Americas Securities LLC now owns 183,849 shares of the financial services provider’s stock valued at $11,601,000 after buying an additional 139,228 shares during the last quarter. Quantbot Technologies LP lifted its stake in shares of Nasdaq by 237.3% in the first quarter. Quantbot Technologies LP now owns 30,845 shares of the financial services provider’s stock valued at $1,946,000 after buying an additional 21,699 shares during the period. Price T Rowe Associates Inc. MD grew its position in Nasdaq by 12.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 517,000 shares of the financial services provider’s stock worth $32,624,000 after buying an additional 57,900 shares in the last quarter. Finally, Swedbank AB bought a new position in Nasdaq during the first quarter valued at about $2,595,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.

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.