Cboe Global Markets (CBOE) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Cboe Global Markets (NASDAQ:CBOE) from a hold rating to a strong-buy rating in a research report released on Tuesday morning. They currently have $113.00 target price on the financial services provider’s stock.
According to Zacks, “Cboe Global remains focused on expanding its proprietary product offering while extending its global customer reach. A diversified product portfolio and core competencies fuel its growth prospects. Also, the buyout of Bats Global Markets is a strategic fit as it is likely to broaden and diversify Cboe Global’s product portfolio and boost its margins, besides generating expense synergies. It enjoys a strong liquidity and remains focused on improving its leverage ratio. However, rising costs remain the key concerns for Cboe Global. Its adjusted operating expense guidance was retained in the range of $420-$428 million and capital expenditure in the $35-$40 million band for 2018. Shares of Cboe Global have underperformed the industry in a year's time.”
Other research analysts also recently issued research reports about the stock. Sandler O’Neill raised shares of Cboe Global Markets from a hold rating to a buy rating in a report on Monday. Goldman Sachs Group raised shares of Cboe Global Markets from a neutral rating to a buy rating and set a $120.00 target price for the company in a report on Friday, January 4th. Bank of America upped their target price on shares of Cboe Global Markets from $113.00 to $122.00 and gave the stock a buy rating in a report on Monday, November 5th. Wells Fargo & Co reaffirmed a buy rating on shares of Cboe Global Markets in a report on Friday, November 2nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Cboe Global Markets from $92.00 to $105.00 and gave the stock a hold rating in a report on Wednesday, October 24th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $114.50.
Cboe Global Markets (NASDAQ:CBOE) last issued its quarterly earnings data on Friday, November 2nd. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.05. The business had revenue of $270.50 million for the quarter, compared to the consensus estimate of $269.08 million. The company’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 EPS.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 14th. Shareholders of record on Friday, November 30th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Thursday, November 29th.
In other news, Director Frank E. Jr. English sold 1,000 shares of the company’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $113.55, for a total transaction of $113,550.00. Following the sale, the director now directly owns 3,137 shares in the company, valued at approximately $356,206.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher A. Isaacson sold 8,719 shares of the company’s stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $106.48, for a total transaction of $928,399.12. Following the sale, the vice president now owns 70,000 shares in the company, valued at $7,453,600. The disclosure for this sale can be found here. 0.89% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of CBOE. Dimensional Fund Advisors LP raised its position in Cboe Global Markets by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 420,869 shares of the financial services provider’s stock worth $43,800,000 after purchasing an additional 4,036 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in Cboe Global Markets by 16.7% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,200 shares of the financial services provider’s stock worth $437,000 after purchasing an additional 600 shares during the period. Glen Harbor Capital Management LLC raised its position in Cboe Global Markets by 16.0% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 4,620 shares of the financial services provider’s stock worth $481,000 after purchasing an additional 638 shares during the period. Laurion Capital Management LP purchased a new stake in Cboe Global Markets in the 2nd quarter worth about $547,000. Finally, AMP Capital Investors Ltd raised its position in Cboe Global Markets by 1.5% in the 2nd quarter. AMP Capital Investors Ltd now owns 69,021 shares of the financial services provider’s stock worth $7,183,000 after purchasing an additional 1,000 shares during the period. 81.98% of the stock is currently owned by institutional investors.
About Cboe Global Markets
Cboe Global Markets, Inc, through its subsidiaries, operates as an options exchange in the United States. The company operates in five segments: Options, U.S. Equities, Futures, European Equities, and Global FX. The Options segment trades in listed market indexes. The U.S. Equities segment trades in listed cash equities; and provides exchange-traded products (ETP) transaction and ETP listing services.
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