Barclays maintains an 'Overweight' on Nasdaq OMX Group (NDAQ); Investors Looking Through Record Results
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Price: $98.22 +0.69%
Rating Summary:
23 Buy, 10 Hold, 1 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
23 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Overweight' on�Nasdaq OMX Group Inc. (NASDAQ: NDAQ) price target�cut $1 to�$33.00.
Barclays analyst says, "NDAQ reported adjusted 3Q11 EPS of $0.67, below our estimate of $0.72, but above the Street's $0.66. While coming in under our EPS estimate for the quarter, we find it hard to take issue with the company's ability to report yet another record quarter of earnings. During the quarter, NDAQ displayed solid operating results in many of the company's non-transaction-oriented businesses, while capitalizing on the improved activity levels seen in the company's transaction-oriented business segments. If we were to posit a reason for the company's underperformance on the day (NDAQ shares down 0.6% vs. S&P 500 up 1.1%), we believe investors may have focused on an expense base that has moved steadily higher over the past few quarters and perhaps a more conservative tone than many may have hoped for around share repurchases for the coming quarters (company guiding to $50-75m per quarter)."
"Based on 3Q11 results and our forecast changes, we are slightly lowering our full year 2011 EPS estimate to $2.52 from $2.59."
For more ratings news on Nasdaq OMX Group Inc. click here and for the rating history of Nasdaq OMX Group Inc. click here.
Shares of Nasdaq OMX Group Inc. closed at $24.31 yesterday.
Barclays analyst says, "NDAQ reported adjusted 3Q11 EPS of $0.67, below our estimate of $0.72, but above the Street's $0.66. While coming in under our EPS estimate for the quarter, we find it hard to take issue with the company's ability to report yet another record quarter of earnings. During the quarter, NDAQ displayed solid operating results in many of the company's non-transaction-oriented businesses, while capitalizing on the improved activity levels seen in the company's transaction-oriented business segments. If we were to posit a reason for the company's underperformance on the day (NDAQ shares down 0.6% vs. S&P 500 up 1.1%), we believe investors may have focused on an expense base that has moved steadily higher over the past few quarters and perhaps a more conservative tone than many may have hoped for around share repurchases for the coming quarters (company guiding to $50-75m per quarter)."
"Based on 3Q11 results and our forecast changes, we are slightly lowering our full year 2011 EPS estimate to $2.52 from $2.59."
For more ratings news on Nasdaq OMX Group Inc. click here and for the rating history of Nasdaq OMX Group Inc. click here.
Shares of Nasdaq OMX Group Inc. closed at $24.31 yesterday.
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