Oppenheimer Increases CME Group (NASDAQ:CME) Price Target to $269.00

CME Group (NASDAQ:CME) had its price target upped by equities researchers at Oppenheimer from $258.00 to $269.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s price objective points to a potential upside of 7.59% from the company’s current price.

Several other analysts have also weighed in on CME. Royal Bank of Canada lifted their price objective on CME Group from $235.00 to $269.00 and gave the stock a “sector perform” rating in a report on Thursday. Citigroup lowered shares of CME Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $255.00 to $250.00 in a research report on Monday, January 6th. Piper Sandler increased their price objective on CME Group from $250.00 to $258.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. boosted their target price on shares of CME Group from $209.00 to $212.00 and gave the company an “underweight” rating in a research note on Thursday. Finally, Morgan Stanley upped their price objective on shares of CME Group from $210.00 to $233.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $234.07.

CME Group Stock Performance

Shares of NASDAQ CME traded up $1.05 during trading hours on Thursday, hitting $250.01. 687,555 shares of the stock were exchanged, compared to its average volume of 1,844,445. The firm has a market capitalization of $90.10 billion, a P/E ratio of 26.29, a P/E/G ratio of 5.54 and a beta of 0.57. CME Group has a one year low of $190.70 and a one year high of $253.53. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.02 and a quick ratio of 1.02. The company’s 50 day moving average is $235.74 and its 200 day moving average is $225.08.

CME Group (NASDAQ:CME) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.06. CME Group had a return on equity of 13.39% and a net margin of 57.34%. On average, research analysts expect that CME Group will post 10.18 EPS for the current year.

CME Group declared that its Board of Directors has approved a share buyback plan on Thursday, December 5th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On CME Group

A number of hedge funds have recently bought and sold shares of CME. SJS Investment Consulting Inc. increased its holdings in CME Group by 570.6% in the 4th quarter. SJS Investment Consulting Inc. now owns 114 shares of the financial services provider’s stock valued at $26,000 after buying an additional 97 shares during the period. Truvestments Capital LLC bought a new position in shares of CME Group in the 3rd quarter valued at $26,000. Dunhill Financial LLC raised its stake in CME Group by 188.4% during the third quarter. Dunhill Financial LLC now owns 124 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 81 shares in the last quarter. New Age Alpha Advisors LLC boosted its position in CME Group by 50.0% in the fourth quarter. New Age Alpha Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $30,000 after buying an additional 43 shares in the last quarter. Finally, Financial Life Planners bought a new position in CME Group in the fourth quarter valued at about $32,000. 87.75% of the stock is owned by institutional investors.

CME Group Company Profile

CME Group Inc, together with its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers futures and options products based on interest rates, equity indexes, foreign exchange, agricultural commodities, energy, and metals, as well as fixed income and foreign currency trading services.