NYSE After Earnings, After No German Buyout (NYX, NDAQ)

NYSE Euronext (NYSE: NYX) is going to have to take a go-it-alone approach now that its merger with Deutsche Boerse has been blocked.  As a fan of America and keeping certain American landmarks as almost all American, yours truly is more than happy to not see that merger take place.

The company released its earnings at $0.43 EPS on a GAAP basis versus $0.51 EPS a year earlier.  On a non-GAAP basis, which the analysts will usually use, that earnings measurement rose by 9% to $0.50 EPS outside of merger costs, exit costs, expenses and more.  Net revenue rose 2% year over year to about $628 million.

NYSE Euronext is going to have to revert back to shareholder friendly actions ahead.  As a part of that plan, the company is going to resume its share buyback plan and it has an authorized sum of $550 million remaining under the previously authorized plan.  NYSE Euronext said that it executed $100 million in stock repurchases in the fourth quarter and it bought some 3.7 million shares at an average price of $26.96.

The exchange’s board of directors also declared a first quarter 2012 cash dividend of $0.30 per share.  On a normalized basis at $27.90, the $1.20 annualized dividend rate comes to a dividend yield of 4.3% for yield-oriented investors.  Here is the biggest difference between NYSE and The NASDAQ OMX Group, Inc. (NASDAQ: NDAQ): NASDAQ pays no dividend.

The leading stock exchange noted that its fixed operating expenses fell 4% to $416 million on constant dollar/portfolio basis.  Another boost is that its debt-to-EBITDA ratio fell down to a level of 1.6 times versus 2.2 times a year earlier.

JON C. OGG