CBOE Holdings Inc. (CBOE) Upgraded at Zacks Investment Research
According to Zacks, “CBOE Holdings is engaged in the expansion of its proprietary product offering, while extending its global customer reach. The company’s diversified product portfolio and core competencies fuel growth prospects. Absence of long-term debt limits, and balance sheet risks have been facilitating the company’s effective capital deployment along with its strong capital position. With respect to expanding its operations, the company has opened its first international business development office in London. However, the company’s exposure to industry volatility and sluggish credit quality amid intense competition and challenging regulations remain concerns. Recently CBOE announced its August results where average daily volume declined 31% to 4.1 million despite trading days being two days more from year ago period. The Zacks Consensus Estimate has also been witnessing downward revisions over the last 60 days as most estimates moved south.”
Several other equities analysts also recently commented on the stock. Barclays PLC reissued an underweight rating and set a $52.00 target price (down from $54.00) on shares of CBOE Holdings in a research report on Friday, September 2nd. Deutsche Bank AG increased their target price on shares of CBOE Holdings from $67.00 to $68.00 and gave the stock a hold rating in a research report on Friday, September 9th. Bank of America Corp. downgraded shares of CBOE Holdings from a neutral rating to an underperform rating and lowered their target price for the stock from $68.29 to $65.00 in a research report on Thursday, August 11th. They noted that the move was a valuation call. Sterne Agee CRT started coverage on shares of CBOE Holdings in a research report on Thursday, May 19th. They set an underperform rating and a $56.00 target price on the stock. Finally, JPMorgan Chase & Co. reissued a hold rating and set a $61.00 target price on shares of CBOE Holdings in a research report on Wednesday, August 3rd. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $64.73.
Shares of CBOE Holdings (NASDAQ:CBOE) opened at 69.62 on Friday. CBOE Holdings has a 52 week low of $58.43 and a 52 week high of $72.53. The firm’s 50-day moving average price is $68.49 and its 200 day moving average price is $65.94. The firm has a market cap of $5.66 billion, a PE ratio of 26.33 and a beta of 0.54.
CBOE Holdings (NASDAQ:CBOE) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.60 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. CBOE Holdings had a return on equity of 81.50% and a net margin of 32.55%. The business earned $163.30 million during the quarter, compared to analyst estimates of $159.22 million. During the same period last year, the company earned $0.54 earnings per share. CBOE Holdings’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts anticipate that CBOE Holdings will post $2.40 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.32%. The ex-dividend date was Wednesday, August 31st. CBOE Holdings’s dividend payout ratio (DPR) is presently 37.88%.
In related news, CEO Edward T. Tilly sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $67.86, for a total value of $424,125.00. Following the completion of the transaction, the chief executive officer now owns 73,611 shares in the company, valued at approximately $4,995,242.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.96% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC boosted its position in CBOE Holdings by 76.5% in the first quarter. Lazard Asset Management LLC now owns 1,859,260 shares of the company’s stock valued at $121,464,000 after buying an additional 806,144 shares during the period. Norges Bank acquired a new stake in CBOE Holdings during the fourth quarter worth approximately $45,780,000. Emerald Acquisition Ltd. acquired a new stake in CBOE Holdings during the second quarter worth approximately $28,426,000. UBS Asset Management Americas Inc. raised its stake in CBOE Holdings by 537.5% in the second quarter. UBS Asset Management Americas Inc. now owns 365,071 shares of the company’s stock worth $24,321,000 after buying an additional 307,808 shares in the last quarter. Finally, FIL Ltd acquired a new stake in CBOE Holdings during the second quarter worth approximately $18,750,000. Hedge funds and other institutional investors own 74.20% of the company’s stock.
About CBOE Holdings
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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