Royal Bank Of Canada Issues Positive Forecast for Cboe Global Markets (BATS:CBOE) Stock Price

Cboe Global Markets (BATS:CBOE) had its target price boosted by Royal Bank Of Canada from $303.00 to $360.00 in a research report released on Friday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

Several other analysts have also recently issued reports on the stock. Barclays dropped their price objective on shares of Cboe Global Markets from $354.00 to $343.00 and set an “overweight” rating for the company in a research note on Wednesday, October 7th. TD Cowen upped their price target on Cboe Global Markets from $334.00 to $342.00 and gave the stock a “buy” rating in a report on Monday, October 12th. Morgan Stanley reiterated an “overweight” rating and issued a $450.00 price objective on shares of Cboe Global Markets in a report on Friday, October 23rd. Wells Fargo & Company lifted their target price on Cboe Global Markets from $309.00 to $357.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Loop Capital set a $332.00 price target on Cboe Global Markets in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $342.82.

Cboe Global Markets Stock Performance

CBOE traded up $7.97 on Friday, reaching $343.50. 81,875 shares of the stock were exchanged, compared to its average volume of 1,133,071. Cboe Global Markets has a fifty-two week low of $227.15 and a fifty-two week high of $371.18. The company’s 50-day moving average price is $294.61 and its 200 day moving average price is $291.85. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market capitalization of $36.43 billion, a PE ratio of 177.49 and a beta of 0.61.

Cboe Global Markets (BATS:CBOE) last posted its earnings results on Friday, October 30th. The company reported $3.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.20. The company had revenue of $712.20 million during the quarter, compared to the consensus estimate of $705.22 million. Cboe Global Markets had a net margin of 5.77% and a return on equity of 20.05%. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.67 earnings per share. As a group, sell-side analysts forecast that Cboe Global Markets will post 6.41 EPS for the current fiscal year.

Cboe Global Markets Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, November 30th. Cboe Global Markets’s dividend payout ratio is presently 98.97%.

Cboe Global Markets declared that its board has initiated a share repurchase plan on Thursday, October 22nd that permits the company to repurchase $550 million in shares. This buyback authorization permits the company to repurchase up to 1.6% of its stock through open market purchases. Share buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, Director Janet Froetscher sold 937 shares of Cboe Global Markets stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $278.95, for a total transaction of $261,376.15. Following the transaction, the director directly owned 12,870 shares of the company’s stock, valued at $3,590,086.50. The trade was a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.51% of the company’s stock.

Institutional Trading of Cboe Global Markets

A number of hedge funds have recently modified their holdings of the business. Chicago Partners Investment Group LLC lifted its position in shares of Cboe Global Markets by 5.1% in the third quarter. Chicago Partners Investment Group LLC now owns 7,808 shares of the company’s stock worth $2,658,000 after buying an additional 378 shares during the last quarter. Covestor Ltd increased its holdings in Cboe Global Markets by 27.6% in the 3rd quarter. Covestor Ltd now owns 236 shares of the company’s stock valued at $65,000 after buying an additional 51 shares during the period. Rakuten Investment Management Inc. lifted its stake in Cboe Global Markets by 9.6% during the third quarter. Rakuten Investment Management Inc. now owns 18,759 shares of the company’s stock worth $4,910,000 after purchasing an additional 1,636 shares during the period. Traynor Capital Management Inc. acquired a new stake in Cboe Global Markets in the 3rd quarter valued at $217,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Cboe Global Markets during the 3rd quarter worth about $7,744,000. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Cboe Global Markets Company Profile

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. and Canadian equities. This segment also offers exchange-traded products (ETP) transaction and listing services. The Europe and Asia Pacific segment provides pan-European listed equities and derivatives transaction services, ETPs, exchange-traded commodities, and international depository receipts, as well as ETP listings and clearing services.