Cboe Global Markets (BATS:CBOE) Reaches New 52-Week High on Analyst Upgrade

Cboe Global Markets, Inc. (BATS:CBOE) reached a new 52-week high during trading on Monday after Oppenheimer raised their price target on the stock from $209.00 to $227.00. Oppenheimer currently has an outperform rating on the stock. Cboe Global Markets traded as high as $207.56 and last traded at $206.50, with a volume of 619138 shares trading hands. The stock had previously closed at $206.00.

Other research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cboe Global Markets from $186.00 to $205.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. upgraded shares of Cboe Global Markets from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $168.00 to $195.00 in a research report on Monday, August 5th. Barclays lifted their price target on shares of Cboe Global Markets from $218.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $220.00 price target on shares of Cboe Global Markets in a research report on Friday, October 4th. Finally, TD Cowen assumed coverage on shares of Cboe Global Markets in a research report on Thursday, September 26th. They issued a “hold” rating and a $205.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $208.75.

Insiders Place Their Bets

In other Cboe Global Markets news, EVP Dave Howson sold 2,392 shares of Cboe Global Markets stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $188.22, for a total transaction of $450,222.24. Following the completion of the sale, the executive vice president now owns 12,681 shares of the company’s stock, valued at $2,386,817.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Cboe Global Markets news, EVP Dave Howson sold 2,392 shares of Cboe Global Markets stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $188.22, for a total transaction of $450,222.24. Following the completion of the sale, the executive vice president now owns 12,681 shares of the company’s stock, valued at $2,386,817.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jill Griebenow sold 1,622 shares of Cboe Global Markets stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $213.33, for a total transaction of $346,021.26. Following the sale, the chief financial officer now directly owns 8,844 shares of the company’s stock, valued at $1,886,690.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,261 shares of company stock worth $3,604,822. Corporate insiders own 0.51% of the company’s stock.

Institutional Investors Weigh In On Cboe Global Markets

Institutional investors have recently modified their holdings of the stock. Perpetual Ltd acquired a new stake in shares of Cboe Global Markets in the 1st quarter valued at $74,868,000. Marshall Wace LLP lifted its stake in shares of Cboe Global Markets by 306.6% in the 2nd quarter. Marshall Wace LLP now owns 533,839 shares of the company’s stock valued at $90,785,000 after purchasing an additional 402,547 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Cboe Global Markets by 66.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 617,041 shares of the company’s stock valued at $104,934,000 after purchasing an additional 246,442 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of Cboe Global Markets by 36.2% in the 2nd quarter. TD Asset Management Inc now owns 499,995 shares of the company’s stock valued at $85,029,000 after purchasing an additional 132,833 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its stake in shares of Cboe Global Markets by 1,044.9% in the 2nd quarter. Squarepoint Ops LLC now owns 119,673 shares of the company’s stock valued at $20,352,000 after purchasing an additional 109,220 shares during the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

Cboe Global Markets Stock Performance

The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.21 and a current ratio of 1.21. The firm’s 50 day moving average is $207.50 and its 200-day moving average is $188.39. The firm has a market cap of $21.90 billion, a price-to-earnings ratio of 106.44 and a beta of 0.61.

Cboe Global Markets (BATS:CBOE) last released its quarterly earnings data on Friday, August 2nd. The company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.05. Cboe Global Markets had a net margin of 5.77% and a return on equity of 20.05%. The business had revenue of $513.80 million during the quarter, compared to analyst estimates of $514.51 million. During the same quarter in the previous year, the business earned $1.78 EPS. Cboe Global Markets’s quarterly revenue was up 10.0% compared to the same quarter last year. Sell-side analysts anticipate that Cboe Global Markets, Inc. will post 6.41 earnings per share for the current fiscal year.

Cboe Global Markets Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.63 per share. This is a positive change from Cboe Global Markets’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, August 30th. This represents a $2.52 dividend on an annualized basis and a yield of 1.22%. Cboe Global Markets’s payout ratio is currently 98.97%.

Cboe Global Markets declared that its board has authorized a share buyback program on Friday, August 16th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 2.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

About Cboe Global Markets

Cboe Global Markets, Inc, through its subsidiaries, operates as an options exchange worldwide. It operates through six segments: Options, North American Equities, Europe and Asia Pacific, Futures, Global FX, and Digital. The Options segment trades in listed market indices. The North American Equities segment trades in listed U.S.