Cboe Global Markets (BATS:CBOE) Upgraded to “Buy” at TD Cowen

TD Cowen upgraded shares of Cboe Global Markets (BATS:CBOE) from a hold rating to a buy rating in a research note issued to investors on Monday morning, Marketbeat Ratings reports. The brokerage currently has $334.00 target price on the stock, up from their previous target price of $315.00.

A number of other research firms have also weighed in on CBOE. Morgan Stanley reissued an “underweight” rating and set a $258.00 target price on shares of Cboe Global Markets in a research report on Friday, July 10th. Barclays raised their price target on Cboe Global Markets from $347.00 to $354.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Piper Sandler cut their price objective on Cboe Global Markets from $355.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Loop Capital set a $300.00 target price on Cboe Global Markets in a report on Friday. Finally, Wells Fargo & Company assumed coverage on Cboe Global Markets in a research report on Friday. They issued an “equal weight” rating and a $301.00 price target on the stock. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $308.45.

Cboe Global Markets Trading Up 2.3%

Shares of CBOE stock opened at $277.47 on Monday. Cboe Global Markets has a 12 month low of $227.15 and a 12 month high of $371.18. The company has a market cap of $29.43 billion, a PE ratio of 143.03 and a beta of 0.61. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $287.73 and its two-hundred day moving average is $292.44.

Cboe Global Markets (BATS:CBOE) last issued its quarterly earnings data on Friday, July 31st. The company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.07. The business had revenue of $731.60 million during the quarter, compared to analysts’ expectations of $716.61 million. Cboe Global Markets had a net margin of 5.77% and a return on equity of 20.05%. Cboe Global Markets’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.46 earnings per share. Equities analysts predict that Cboe Global Markets will post 6.41 EPS for the current year.

Cboe Global Markets Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, August 31st. This is a positive change from Cboe Global Markets’s previous quarterly dividend of $0.72. Cboe Global Markets’s payout ratio is presently 98.97%.

Insider Activity at Cboe Global Markets

In other news, Director Janet Froetscher sold 937 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $278.95, for a total transaction of $261,376.15. Following the completion of the transaction, the director owned 12,870 shares of the company’s stock, valued at approximately $3,590,086.50. This represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.51% of the company’s stock.

Institutional Investors Weigh In On Cboe Global Markets

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Cboe Global Markets in the 2nd quarter valued at $2,474,799,000. Deutsche Bank AG acquired a new stake in shares of Cboe Global Markets during the 2nd quarter valued at about $491,465,000. Jupiter Topco LLC bought a new stake in Cboe Global Markets in the second quarter valued at about $304,917,000. Legal & General Group Plc bought a new stake in Cboe Global Markets in the second quarter valued at about $175,870,000. Finally, Bank of America Corp DE bought a new stake in Cboe Global Markets in the second quarter valued at about $162,794,000. 81.73% of the stock is owned by institutional investors and hedge funds.

Cboe Global Markets Company Profile

Cboe Global Markets, Inc, through its subsidiaries, operates as an options exchange worldwide. It operates through six segments: Options, North American Equities, Europe and Asia Pacific, Futures, Global FX, and Digital. The Options segment trades in listed market indices. The North American Equities segment trades in listed U.S. and Canadian equities. This segment also offers exchange-traded products (ETP) transaction and listing services. The Europe and Asia Pacific segment provides pan-European listed equities and derivatives transaction services, ETPs, exchange-traded commodities, and international depository receipts, as well as ETP listings and clearing services.