Zacks Investment Research downgraded shares of CBOE Holdings, Inc. (NASDAQ:CBOE) from a buy rating to a hold rating in a report issued on Wednesday, July 12th.
According to Zacks, “Shares of CBOE Holdings have outperformed the Zacks categorized Securities Exchanges industry, quarter to date. The company has also been witnessing estimates moving north over the last 60 days. CBOE Holdings 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 Holdings’ product portfolio and boost margins. However, intense competition and escalating costs remain concerns for CBOE Holdings. The company estimates capital expenditure in 2017 between $55 million and $60 million. The company is set to report second quarter results on Aug 4. However a favorable Zacks Rank when combined with Earnings ESP of 0.00% makes prediction difficult for earnings beat or miss.”
Several other equities research analysts have also commented on the stock. Citigroup Inc. assumed coverage on shares of CBOE Holdings in a research note on Wednesday, July 12th. They issued a neutral rating and a $93.00 price target on the stock. Deutsche Bank AG increased their price objective on shares of CBOE Holdings from $76.00 to $79.00 and gave the company a hold rating in a report on Tuesday, July 4th. BidaskClub upgraded shares of CBOE Holdings from a buy rating to a strong-buy rating in a report on Friday, June 30th. Royal Bank Of Canada set a $90.00 price objective on shares of CBOE Holdings and gave the company an outperform rating in a report on Friday, May 12th. Finally, Jefferies Group LLC reiterated a hold rating and issued a $85.00 price objective on shares of CBOE Holdings in a report on Monday, April 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $76.97.
CBOE Holdings (CBOE) traded up 0.87% during trading on Wednesday, hitting $95.46. The company had a trading volume of 871,143 shares. CBOE Holdings has a 12 month low of $61.58 and a 12 month high of $95.95. The company has a market cap of $10.70 billion, a PE ratio of 53.27 and a beta of 0.49. The company’s 50 day moving average price is $92.12 and its 200-day moving average price is $84.24.
CBOE Holdings (NASDAQ:CBOE) last announced its quarterly earnings results on Friday, August 4th. The financial services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.86 by $0.01. CBOE Holdings had a net margin of 17.81% and a return on equity of 17.45%. The company had revenue of $266.90 million for the quarter, compared to analyst estimates of $266.22 million. During the same quarter last year, the business earned $0.60 earnings per share. CBOE Holdings’s revenue was up 85.2% compared to the same quarter last year. Equities analysts expect that CBOE Holdings will post $3.38 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, August 30th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.13%. This is an increase from CBOE Holdings’s previous quarterly dividend of $0.25. CBOE Holdings’s dividend payout ratio (DPR) is currently 55.25%.
In other CBOE Holdings news, VP Christopher A. Isaacson sold 7,316 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $89.21, for a total value of $652,660.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Christopher Mitchell sold 225,000 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $89.17, for a total transaction of $20,063,250.00. The disclosure for this sale can be found here. Insiders sold a total of 237,316 shares of company stock worth $21,150,160 over the last quarter. 0.96% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Strs Ohio purchased a new position in shares of CBOE Holdings during the second quarter valued at about $120,000. TrimTabs Asset Management LLC increased its position in shares of CBOE Holdings by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 1,580 shares of the financial services provider’s stock valued at $128,000 after buying an additional 744 shares in the last quarter. Royce & Associates LP purchased a new position in shares of CBOE Holdings during the first quarter valued at about $180,000. Huntington National Bank purchased a new position in shares of CBOE Holdings during the second quarter valued at about $182,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of CBOE Holdings during the second quarter valued at about $183,000. 78.39% of the stock is owned by hedge funds and other institutional investors.
CBOE Holdings Company Profile
CBOE Holdings, Inc is a holding company. The Company’s principal business is operating markets that offer for trading options on various market indexes (index options), on an exclusive basis, and futures contracts, as well as on non-exclusive multiply listed options, such as options on the stocks of individual corporations (equity options), and options on other exchange-traded products (ETP options), such as exchange-traded funds (ETF options) and exchange-traded notes (ETN options).
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