UBS Still Positive on Nasdaq OMX Group Inc. (NDAQ), But Cutting Estimates as Initiatives Can't Offset Volumes
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Price: $97.02 -0.58%
Rating Summary:
23 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
23 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Buy' Nasdaq OMX Group Inc. (NASDAQ: NDAQ) price target lowered $1 to $29.
Analyst, Alex Kramm, said, "NDAQ shares underperformed despite the initiation of the company’s first-ever quarterly dividend and a new cost cutting program, which we viewed as positives. We believe the weakness was driven by the combination of a headline EPS miss, unfavorable pricing trends, the prospect of lower earnings estimates, and a dividend that was below some expectations (not ours). While there are limited catalysts on the horizon, we believe the shares should move higher as a new group of investors embraces NDAQ’s diversified story for the first time."
However, Kramm, cuts FY12 EPS estimates from $2.73 to $2.63, citing lower volumes across transaction businesses, pricing of cash equities and lower run-rates. Although, FY13 is raised from $3.13 to $3.16.
For an analyst ratings summary and ratings history on Nasdaq OMX Group Inc. click here. For more ratings news on Nasdaq OMX Group Inc. click here.
Shares of Nasdaq OMX Group Inc. closed at $25.12 yesterday.
Analyst, Alex Kramm, said, "NDAQ shares underperformed despite the initiation of the company’s first-ever quarterly dividend and a new cost cutting program, which we viewed as positives. We believe the weakness was driven by the combination of a headline EPS miss, unfavorable pricing trends, the prospect of lower earnings estimates, and a dividend that was below some expectations (not ours). While there are limited catalysts on the horizon, we believe the shares should move higher as a new group of investors embraces NDAQ’s diversified story for the first time."
However, Kramm, cuts FY12 EPS estimates from $2.73 to $2.63, citing lower volumes across transaction businesses, pricing of cash equities and lower run-rates. Although, FY13 is raised from $3.13 to $3.16.
For an analyst ratings summary and ratings history on Nasdaq OMX Group Inc. click here. For more ratings news on Nasdaq OMX Group Inc. click here.
Shares of Nasdaq OMX Group Inc. closed at $25.12 yesterday.
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