Cboe Global Markets (CBOE) Reaches New 52-Week High After Analyst Upgrade

Cboe Global Markets Inc (NASDAQ:CBOE) shares hit a new 52-week high during mid-day trading on Monday after Zacks Investment Research upgraded the stock from a hold rating to a strong-buy rating. Zacks Investment Research now has a $147.00 price target on the stock. Cboe Global Markets traded as high as $129.82 and last traded at $127.60, with a volume of 1241400 shares. The stock had previously closed at $124.04.

According to Zacks, “Shares of Cboe Global Markets have outperformed the industry in a year. The company also witnessed 2018 moved north over the last 60 days. Cboe Global Markets remains focused on expansion of its proprietary product offering, while extending its global customer reach. Diversified product portfolio and core competencies fuel its growth prospects. Also, the acquisition of Bats Global Markets is a strategic fit as it will expand and diversify Cboe Global Markets’ product portfolio and boost margins, besides generating expense synergies. However, intense competition and escalating costs remain concerns for Cboe Global Markets. The company estimates capital expenditure between $49 million and $53 million for 2017. The company is set to report fourth quarter results on Feb 9. Our proven model shows that the company will deliver positive surprise given its Zacks Rank #1 and Earnings ESP of 1.74%.”

A number of other analysts have also recently weighed in on CBOE. Royal Bank of Canada set a $100.00 price objective on shares of Cboe Global Markets and gave the stock a “buy” rating in a report on Monday, September 11th. Jefferies Group reissued a “hold” rating and set a $92.00 price objective on shares of Cboe Global Markets in a report on Tuesday, October 3rd. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $120.00 target price (up from $106.00) on shares of Cboe Global Markets in a report on Thursday, October 5th. They noted that the move was a valuation call. Bank of America lifted their target price on shares of Cboe Global Markets from $113.00 to $120.00 and gave the company a “buy” rating in a report on Monday, October 9th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $108.00 target price on shares of Cboe Global Markets in a report on Thursday, October 12th. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $114.10.

In other news, insider David S. Reynolds sold 4,000 shares of Cboe Global Markets stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $109.12, for a total value of $436,480.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Edward T. Tilly sold 5,000 shares of Cboe Global Markets stock in a transaction on Monday, December 11th. The shares were sold at an average price of $126.28, for a total transaction of $631,400.00. Following the completion of the transaction, the chairman now directly owns 70,611 shares in the company, valued at $8,916,757.08. The disclosure for this sale can be found here. Insiders sold a total of 16,989 shares of company stock worth $2,059,320 over the last ninety days. Corporate insiders own 1.86% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Winslow Evans & Crocker Inc. increased its stake in Cboe Global Markets by 720.0% in the 3rd quarter. Winslow Evans & Crocker Inc. now owns 1,886 shares of the financial services provider’s stock valued at $203,000 after buying an additional 1,656 shares during the period. Global X MANAGEMENT CO LLC increased its stake in Cboe Global Markets by 329.0% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 1,896 shares of the financial services provider’s stock valued at $204,000 after buying an additional 1,454 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new position in Cboe Global Markets in the 3rd quarter valued at $226,000. Visionary Asset Management Inc. acquired a new position in Cboe Global Markets in the 3rd quarter valued at $234,000. Finally, W. E. Donoghue & Co. LLC acquired a new position in Cboe Global Markets in the 2nd quarter valued at $203,000. 83.65% of the stock is currently owned by institutional investors.

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market cap of $14,750.00, a P/E ratio of 70.70, a PEG ratio of 1.82 and a beta of 0.52.

Cboe Global Markets (NASDAQ:CBOE) last announced its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. The company had revenue of $269.70 million for the quarter, compared to analysts’ expectations of $270.14 million. Cboe Global Markets had a net margin of 10.55% and a return on equity of 14.70%. Cboe Global Markets’s revenue was up 98.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 EPS. equities analysts forecast that Cboe Global Markets Inc will post 3.41 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.08 annualized dividend and a dividend yield of 0.83%. Cboe Global Markets’s payout ratio is currently 58.38%.

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Cboe Global Markets Company Profile

Cboe Global Markets, Inc, formerly CBOE Holdings, Inc, is a holding company. The Company provides trading and investment solutions to investors around the world. It offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, United States and European equities, exchange-traded products (ETPs), global foreign exchange (FX) and multi-asset volatility products based on the Cboe Volatility Index (VIX Index).

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