Android app on Google Play

Barclays on U.S. Brokers, Asset Managers & Exchanges: Adjusting Exchange (NYX & NDAQ) Estimates

June 8, 2012 3:44 PM EDT Send to a Friend
Get Alerts NYX Hot Sheet
Price: $45.29 --0%

Rating Summary:
    5 Buy, 11 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 24 | New: 21
Trade NYX Now!
Join SI Premium – FREE
Barclays on U.S. Brokers, Asset Managers & Exchanges: Truing-Up Cash Equity Exchange Estimates

Analyst, Roger A. Freeman, said, "We are taking the opportunity to adjust our exchange volume forecasts for NYSE (NYSE: NYX) and Nasdaq (Nasdaq: NDAQ) following the month of May. Overall, U.S. cash equities average daily volume (ADV) was up 9% vs. April levels to 7.1bn shares."

"Cash equities ADV is running at 6.8bn QTD, above our prior forecast of 6.7bn. Given current trends, our ADV estimate moves slightly higher to 7.0bn, implying ADV of roughly 7.2bn for the month of June."

"QTD equity options ADV of 15.2mn is running 4% below 1Q12 levels and 2% under our prior estimate despite the 7% sequential increase in May volumes. We are adjusting our equity option ADV forecast slightly lower to 15.5mn, down from 15.6mn, implying equity option ADV of 16.0mn in June."

"On the European front, most volumes have been running below our expectations with the lone exception of NYX's derivative volumes, which are running slightly above our prior expectations."

"Given the above changes, our NDAQ 2Q12 EPS estimate moves to $0.62 from $0.63. Our FY2012 estimate moves to $2.57 from $2.61 and our price target remains at $31. Our NYX 2Q12 EPS estimate moves to $0.51 from $0.53. Our FY2012 forecast moves to $2.20 from $2.25 and our price target remains at $33."




You May Also Be Interested In


Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Retail Sales

Related Entities

Barclays

Add Your Comment