Core Insights - The Zacks Securities and Exchanges industry is benefiting from a diversified product portfolio, increased trading volumes, and the growing adoption of crypto assets, which is expected to enhance revenues for key players like S&P Global, Intercontinental Exchange, CME Group, Nasdaq Inc., and Cboe Global Markets [1][2] - The industry is focusing on non-trading revenue sources, including market technology and information services, to create stable cash flows and reduce reliance on trading income [4][5] Industry Overview - The Zacks Securities and Exchanges industry includes companies that operate electronic marketplaces for trading stocks, options, bonds, and commodity contracts, generating revenue from fees and providing data services [2] - The industry is experiencing increased adoption of crypto assets, but faces challenges due to regulatory compliance [2] Trends Shaping the Industry - Trading volume is driven by volatility, with a projected market size of $49.6 billion by 2028, growing at a CAGR of 12.1% [3] - Companies are diversifying into recurring revenue sources to stabilize income amidst fluctuating market volumes [4] - Mergers and acquisitions are on the rise, helping companies expand their market reach and product offerings [5] - Continuous investment in technology, particularly AI and blockchain, is enhancing operational efficiency and competitiveness [6][7] Industry Performance - The Zacks Securities and Exchanges industry ranks 24, placing it in the top 10% of Zacks industries, indicating strong near-term prospects [8][9] - The industry has outperformed the broader Zacks Finance sector and the S&P 500, gaining 15% year-to-date compared to 10.7% and 9.5% respectively [12] Valuation Metrics - The industry is currently trading at a trailing P/E of 26.32X, higher than the S&P 500's 22.85X and the sector's 16.89X [15] Company Highlights - **Nasdaq**: Focused on maximizing non-trading revenue and technology services, with a projected EPS growth of 17.4% and 11.5% for 2025 and 2026 respectively [19][20] - **S&P Global**: Positioned to benefit from growing demand for business information services, with EPS growth estimates of 9.2% and 11% for 2025 and 2026 [22][23] - **Intercontinental Exchange**: A leading operator with a strong portfolio and expected EPS growth of 15% and 10.8% for 2025 and 2026 [25][26] - **CME Group**: The largest futures exchange, focusing on expanding product offerings, with EPS growth estimates of 8.6% and 3.8% for 2025 and 2026 [28][29] - **Cboe Global Markets**: Expanding product lines and geographic reach, with EPS growth projections of 11.5% and 5.9% for 2025 and 2026 [32][33]

Over the last four quarters, the company has surpassed consensus EPS estimates just once. OTC Markets Group, which belongs to the Zacks Securities and Exchanges industry, posted revenues of $30.51 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 0.91%. This compares to year-ago revenues of $27.56 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recentl ...

CBOE Global (CBOE) came out with quarterly earnings of $2.46 per share, beating the Zacks Consensus Estimate of $2.42 per share. This compares to earnings of $2.15 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +1.65%. A quarter ago, it was expected that this holding company for the Chicago Board Options Exchange would post earnings of $2.36 per share when it actually produced earnings of $2.5, delivering a surprise of +5.93% ...

This quarterly report represents an earnings surprise of +2.26%. A quarter ago, it was expected that this owner of the New York Stock Exchange and other stock markets would post earnings of $1.7 per share when it actually produced earnings of $1.72, delivering a surprise of +1.18%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. ICE, which belongs to the Zacks Securities and Exchanges industry, posted revenues of $2.54 billion for the quarter ended June 2025, surp ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the "long context," investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Eve ...

分组1 - Nasdaq reported quarterly earnings of $0.85 per share, exceeding the Zacks Consensus Estimate of $0.80 per share, and up from $0.69 per share a year ago, representing an earnings surprise of +6.25% [1] - The company posted revenues of $1.31 billion for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 2.41%, compared to $1.16 billion in the same quarter last year [2] - Nasdaq has outperformed the S&P 500, with shares increasing about 14.2% since the beginning of the year, compared to the S&P 500's gain of 8.1% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $0.80 on revenues of $1.26 billion, and for the current fiscal year, it is $3.24 on revenues of $5.1 billion [7] - The Zacks Industry Rank places Securities and Exchanges in the top 9% of over 250 Zacks industries, indicating a favorable outlook for the industry [8] - Nasdaq has a Zacks Rank of 2 (Buy), suggesting that the shares are expected to outperform the market in the near future [6]

Group 1: Earnings Performance - CME Group reported quarterly earnings of $2.96 per share, exceeding the Zacks Consensus Estimate of $2.91 per share, and up from $2.56 per share a year ago [1] - The earnings surprise for this quarter was +1.72%, and the company has surpassed consensus EPS estimates in all four of the last quarters [2] - Revenues for the quarter ended June 2025 were $1.69 billion, surpassing the Zacks Consensus Estimate by 0.51%, and up from $1.53 billion year-over-year [3] Group 2: Stock Performance and Outlook - CME shares have increased approximately 18.3% since the beginning of the year, compared to a 7.3% gain in the S&P 500 [4] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters [5] - The current consensus EPS estimate for the next quarter is $2.75 on revenues of $1.63 billion, and for the current fiscal year, it is $11.12 on revenues of $6.57 billion [8] Group 3: Industry Context - The Securities and Exchanges industry, to which CME belongs, is currently ranked in the top 10% of over 250 Zacks industries, indicating strong performance potential [9] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [6] - The estimate revisions trend for CME was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it will perform in line with the market [7]

Core Viewpoint - The market anticipates Nasdaq (NDAQ) to report a year-over-year increase in earnings and revenues for the quarter ended June 2025, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - Nasdaq is expected to post quarterly earnings of $0.80 per share, reflecting a year-over-year increase of +15.9% [3]. - Revenues are projected to be $1.27 billion, which is a 9.9% increase from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised 1.58% higher in the last 30 days, indicating a positive reassessment by analysts [4]. - The Most Accurate Estimate for Nasdaq is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +0.83% [11]. Earnings Surprise Prediction - A positive Earnings ESP reading suggests a likely earnings beat, especially when combined with a Zacks Rank of 1 (Strong Buy), 2 (Buy), or 3 (Hold) [9]. - Nasdaq currently holds a Zacks Rank of 2, indicating a strong likelihood of beating the consensus EPS estimate [11]. Historical Performance - In the last reported quarter, Nasdaq exceeded the expected earnings of $0.77 per share by delivering $0.79, resulting in a surprise of +2.60% [12]. - Over the past four quarters, Nasdaq has consistently beaten consensus EPS estimates [13]. Industry Comparison - CME Group (CME), another player in the Securities and Exchanges industry, is expected to report earnings of $2.9 per share, a year-over-year increase of +13.3%, with revenues projected at $1.7 billion, up 11.2% from the previous year [17]. - CME has an Earnings ESP of +0.9% and a Zacks Rank of 3, indicating a likelihood of beating the consensus EPS estimate [18].

Core Insights - The Zacks Securities and Exchanges industry is benefiting from a diversified product portfolio, increased trading volumes, and the adoption of crypto assets, with companies like Intercontinental Exchange (ICE), CME Group (CME), Nasdaq Inc. (NDAQ), and Cboe Global Markets (CBOE) expected to gain from these trends [1][3]. Industry Overview - The Zacks Securities and Exchanges industry includes companies that operate electronic marketplaces for trading stocks, options, bonds, and commodity contracts, generating revenue from fees and providing data and listing services [2]. - The industry is experiencing a rise in crypto asset adoption, but companies must navigate various regulatory requirements [2]. Trends Shaping the Industry - Trading volume is driven by volatility, with transaction and clearing fees being significant revenue sources. A pro-crypto environment under Trump's potential second term is expected to further increase trading activity [3]. - The securities exchanges market is projected to reach $49.6 billion by 2028, growing at a CAGR of 12.1% [3]. - Mergers and acquisitions are on the rise as companies seek to enhance growth through strategic partnerships and technology acquisitions [4]. - Continuous investment in technology, particularly in AI and blockchain, is crucial for improving trading efficiency and reducing risks [5]. Industry Performance - The Zacks Securities and Exchanges industry ranks 10, placing it in the top 4% of 251 Zacks industries, indicating strong near-term prospects [6][7]. - The industry has outperformed the broader Zacks Finance sector and the S&P 500, gaining 17.3% year-to-date compared to the sector's 3.9% increase and the S&P 500's decline of 1.8% [10]. Valuation Metrics - The industry currently trades at a trailing P/E of 24.69X, higher than the S&P 500's 21.36X and the sector's 16.03X, with historical trading ranges between 19.02X and 27.94X over the past five years [13]. Company Highlights - **Intercontinental Exchange (ICE)**: A leading global operator with a strong portfolio and risk management services, expected to benefit from digitization in the mortgage industry. EPS estimates for 2025 and 2026 indicate year-over-year increases of 14.3% and 10.7%, respectively [17][18]. - **CME Group (CME)**: The largest futures exchange globally, focusing on expanding product offerings and strong liquidity, with EPS estimates for 2025 and 2026 showing increases of 8.7% and 3.3% [21][22]. - **Cboe Global Markets (CBOE)**: A major stock exchange operator with a growing product line and recurring revenues, projecting EPS increases of 9.8% and 6.2% for 2025 and 2026 [25][26]. - **Nasdaq (NDAQ)**: A key provider of trading and marketplace technology, focusing on non-trading revenue growth, with EPS estimates for 2025 and 2026 indicating increases of 13.1% and 11.7% [29][30].

Group 1 - CME Group is one of 858 individual stocks in the Finance sector and is ranked 6 in the Zacks Sector Rank [2] - CME Group currently has a Zacks Rank of 2 (Buy), indicating a favorable outlook for the stock [3] - The Zacks Consensus Estimate for CME's full-year earnings has increased by 6.9% in the past quarter, reflecting stronger analyst sentiment [4] Group 2 - CME Group has gained approximately 19% year-to-date, outperforming the average Finance sector gain of 6.3% [4] - CME Group is part of the Securities and Exchanges industry, which has seen a year-to-date gain of about 16.1%, indicating better performance compared to its industry peers [6] - Another Finance stock, ACNB, has also outperformed the sector with a year-to-date return of 10.5% and a Zacks Rank of 2 (Buy) [5][6]