Brokers Set Expectations for Nasdaq, Inc.’s Q3 2024 Earnings (NASDAQ:NDAQ)

Nasdaq, Inc. (NASDAQ:NDAQ) – Equities researchers at Zacks Research boosted their Q3 2024 earnings estimates for shares of Nasdaq in a note issued to investors on Wednesday, April 17th. Zacks Research analyst T. De now expects that the financial services provider will post earnings per share of $0.69 for the quarter, up from their previous forecast of $0.68. The consensus estimate for Nasdaq’s current full-year earnings is $2.75 per share. Zacks Research also issued estimates for Nasdaq’s FY2024 earnings at $2.71 EPS and Q2 2025 earnings at $0.76 EPS.

Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Wednesday, January 31st. The financial services provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.70 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. Nasdaq had a net margin of 17.48% and a return on equity of 19.28%. The business’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period last year, the company posted $0.64 EPS.

Several other analysts also recently commented on NDAQ. Oppenheimer raised their target price on shares of Nasdaq from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Barclays started coverage on shares of Nasdaq in a report on Thursday, April 11th. They issued an “overweight” rating and a $76.00 price objective on the stock. Edward Jones started coverage on shares of Nasdaq in a report on Wednesday, April 3rd. They issued a “buy” rating on the stock. StockNews.com upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. Finally, Piper Sandler lifted their price objective on shares of Nasdaq from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.09.

Nasdaq Stock Performance

Shares of NDAQ stock opened at $60.35 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $34.71 billion, a P/E ratio of 28.60, a price-to-earnings-growth ratio of 2.73 and a beta of 0.93. The company’s 50 day moving average price is $59.43 and its two-hundred day moving average price is $56.04. Nasdaq has a 52 week low of $46.88 and a 52 week high of $64.25.

Hedge Funds Weigh In On Nasdaq

Hedge funds have recently added to or reduced their stakes in the stock. Cresset Asset Management LLC increased its position in Nasdaq by 4.5% in the 1st quarter. Cresset Asset Management LLC now owns 1,717 shares of the financial services provider’s stock valued at $306,000 after buying an additional 74 shares in the last quarter. Horizon Investments LLC increased its position in Nasdaq by 8.3% in the 1st quarter. Horizon Investments LLC now owns 1,120 shares of the financial services provider’s stock valued at $200,000 after buying an additional 86 shares in the last quarter. Brinker Capital Investments LLC increased its position in Nasdaq by 0.4% in the 1st quarter. Brinker Capital Investments LLC now owns 29,446 shares of the financial services provider’s stock valued at $5,247,000 after buying an additional 106 shares in the last quarter. Advisors Asset Management Inc. increased its position in Nasdaq by 1.7% in the 1st quarter. Advisors Asset Management Inc. now owns 7,142 shares of the financial services provider’s stock valued at $1,273,000 after buying an additional 120 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its position in Nasdaq by 10.6% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,360 shares of the financial services provider’s stock valued at $207,000 after buying an additional 130 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 58,341,545 shares in the company, valued at $3,383,809,610. The sale was disclosed in a filing with the SEC, which is available through this link. 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 sale, the insider now owns 58,341,545 shares in the company, valued at approximately $3,383,809,610. The transaction was disclosed in a filing with the SEC, which is accessible 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 completion of the transaction, the executive vice president now owns 61,672 shares in the company, valued at approximately $3,879,785.52. The disclosure for this sale can be found here. 0.75% of the stock is owned by corporate insiders.

Nasdaq Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.22 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 1.46%. Nasdaq’s payout ratio is 41.71%.

Nasdaq Company Profile

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.