Q2 2020 EPS Estimates for CME Group Inc (NASDAQ:CME) Boosted by Piper Sandler
CME Group Inc (NASDAQ:CME) – Equities research analysts at Piper Sandler raised their Q2 2020 earnings per share estimates for CME Group in a report issued on Tuesday, July 7th. Piper Sandler analyst R. Repetto now expects that the financial services provider will post earnings per share of $1.63 for the quarter, up from their previous estimate of $1.61.
A number of other analysts also recently issued reports on the stock. Barclays reaffirmed a “buy” rating and set a $200.00 price objective on shares of CME Group in a report on Tuesday, April 14th. BidaskClub downgraded shares of CME Group from a “hold” rating to a “sell” rating in a research note on Thursday, June 25th. Keefe, Bruyette & Woods downgraded shares of CME Group from a “market perform” rating to an “underperform” rating in a research note on Sunday, April 19th. Rosenblatt Securities lowered their price target on shares of CME Group from $153.00 to $152.00 and set a “sell” rating for the company in a research note on Wednesday, June 3rd. Finally, Citigroup boosted their price target on shares of CME Group from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. CME Group has an average rating of “Hold” and an average target price of $191.88.
CME Group (NASDAQ:CME) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.10. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.48 billion. CME Group had a net margin of 45.79% and a return on equity of 10.15%. The business’s revenue for the quarter was up 29.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.62 EPS.
A number of large investors have recently made changes to their positions in CME. Virtus ETF Advisers LLC purchased a new position in shares of CME Group in the fourth quarter worth $32,000. Tarbox Family Office Inc. raised its stake in shares of CME Group by 55.6% in the first quarter. Tarbox Family Office Inc. now owns 168 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 60 shares during the last quarter. Prestige Wealth Management Group LLC purchased a new position in shares of CME Group in the first quarter worth $29,000. Bartlett & Co. LLC purchased a new position in shares of CME Group in the first quarter worth $31,000. Finally, Westside Investment Management Inc. purchased a new position in shares of CME Group in the first quarter worth $33,000. Institutional investors and hedge funds own 84.93% of the company’s stock.
In related news, Director William R. Shepard acquired 1,229 shares of the stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $178.10 per share, for a total transaction of $218,884.90. Following the completion of the purchase, the director now owns 2,000 shares of the company’s stock, valued at $356,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy S. Bitsberger sold 600 shares of CME Group stock in a transaction on Monday, June 8th. The shares were sold at an average price of $191.32, for a total value of $114,792.00. Following the transaction, the director now owns 9,927 shares of the company’s stock, valued at approximately $1,899,233.64. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Tuesday, June 9th. CME Group’s payout ratio is presently 50.00%.
About CME Group
CME Group Inc, through its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers a range of products across various asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, and metals, as well as fixed income products.
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