NYSE Euronext Reports a Fall in Earnings; Beats Estimates (NYX)
Financial markets operator, NYSE Euronext( NYX ) reported a decline in earnings for the third quarter, but beat analysts estimates Tuesday.
The New York, NY based company reported third quarter earnings of $108 million, or 44 cents per share down 46% from $200 million, or $0.76 per share last year. On average, analysts expected EPS of 41 cents per share.
Reported revenue was $902 million for the quarter, down from last years revenue of $1.26 billion. Net revenue came in at $559 million, down 21% from $704 million last year. Analysts estimated net revenues of $568.54.
The fall in profits was partially due to declined trading in its equities and futures markets in New York, London and Paris, resulting from uncertainly in the global economy.
NYSE Euronext shares were mostly flat during premarket trading Tuesday.
The Bottom Line
Shares of NYSE Euronext ( NYX ) have a 4.69% dividend yield, based on last night's closing stock price of $25.61. The stock has technical support in the $23-$24 price area. If the shares can firm up, we see overhead resistance around the $27-$28 price levels.
NYSE Euronext( NYX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.