Cboe Global Markets (BATS:CBOE) Issues Quarterly Earnings Results

Cboe Global Markets (BATS:CBOE) posted its quarterly earnings results on Friday. The company reported $3.70 EPS for the quarter, beating the consensus estimate of $3.37 by $0.33, Briefing.com reports. Cboe Global Markets had a net margin of 5.77% and a return on equity of 20.05%. During the same period last year, the business earned $2.50 EPS. Cboe Global Markets’s revenue was up 29.0% on a year-over-year basis.

Here are the key takeaways from Cboe Global Markets’ conference call:

• Cboe reported record Q1 results with net revenue of $729M (+29% YoY) and adjusted diluted EPS of $3.70 (+48% YoY)
• Derivatives remained the engine of growth — derivatives net revenue rose ~32% and SPX options set new records with average daily volume ~4.9M contracts (March ~5.4M), supported by both 0DTE and non-0DTE flows and broad participation across retail and institutional channels.
• Management announced a strategic realignment — sales of Cboe Canada & Australia, exits/wind-downs of non-core businesses and an organizational redesign (workforce reduction of ~20%) aimed at focusing on core franchises and targeting approximately $100M–$120M in annualized expense savings (with ~$20M–$25M realized in 2026).
• Updated financial and capital priorities show disciplined cost control (2026 adjusted operating expense guidance lowered to $838M–$853M) alongside resumed shareholder returns — $45M of opportunistic buybacks in Q1, a $0.72/share dividend, and an adjusted cash position of ~$2.1B with leverage ~0.8x.
• Cboe is launching securities-based event/prediction products (XSP binary/vertical-spread style) and exploring company-specific KPI contracts, tokenization and expanded clearing — these initiatives offer long-term growth potential but carry regulatory and execution uncertainty.

Cboe Global Markets Stock Performance

Shares of CBOE stock traded up $26.87 during trading hours on Friday, reaching $326.96. The stock had a trading volume of 1,567,705 shares, compared to its average volume of 891,369. The firm has a market capitalization of $34.68 billion, a PE ratio of 168.54 and a beta of 0.61. The firm has a 50-day simple moving average of $293.40 and a 200-day simple moving average of $269.81. Cboe Global Markets has a twelve month low of $212.75 and a twelve month high of $329.79. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.21 and a quick ratio of 1.21.

Cboe Global Markets Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were given a dividend of $0.72 per share. The ex-dividend date was Friday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 0.9%. Cboe Global Markets’s dividend payout ratio is currently 98.97%.

Analyst Upgrades and Downgrades

CBOE has been the subject of a number of analyst reports. Royal Bank Of Canada reissued a “sector perform” rating and issued a $303.00 price target on shares of Cboe Global Markets in a report on Monday, February 9th. Argus raised Cboe Global Markets to a “hold” rating in a research report on Wednesday, March 11th. Piper Sandler lifted their price objective on shares of Cboe Global Markets from $295.00 to $321.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Loop Capital set a $293.00 price target on shares of Cboe Global Markets in a report on Thursday, April 9th. Finally, UBS Group reaffirmed a “neutral” rating and set a $290.00 price objective on shares of Cboe Global Markets in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $294.20.

Cboe Global Markets News Summary

Here are the key news stories impacting Cboe Global Markets this week:

• Positive Sentiment: Q1 results materially beat expectations — record net revenue and record (adjusted) EPS; revenue rose ~29% and EPS topped estimates, driven by Derivatives, Data Vantage and Cash/Spot performance. This is the immediate catalyst cited by investors. Cboe Global Beats Q1 Earnings Estimates, Raises Revenue Guidance
• Positive Sentiment: Management upgraded organic revenue growth targets for 2026 and narrowed 2026 adjusted operating expense guidance, signaling stronger top-line momentum and lower opex risk going forward — a pro?earnings mix for investors. Cboe Global Markets Reports Results for First Quarter 2026
• Positive Sentiment: Company announced a major restructuring and cost?cutting program (including headcount actions) intended to sharpen focus on core businesses and accelerate reinvestment — investors are treating the plan as credit positive for near?term margin improvement. Cboe Global Markets Announces Major Restructuring and Cost Cuts
• Neutral Sentiment: Market volatility (VIX) has cooled to mid?teens — a more “risk?on” environment can pressure options volumes, which is mixed for Cboe: lower hedging activity versus stable higher-margin data and listed products. The CBOE VIX Falls to 16 Level
• Neutral Sentiment: Executive moves and talent shifts continued (e.g., departures and hiring in low?touch execution roles) — operational continuity appears intact but worth monitoring as realignment progresses. Bryan Blake Joins CIBC From Cboe
• Negative Sentiment: The company is cutting roughly 20% of its workforce; coverage highlights risks — severance charges, execution risk during transition, and potential PR/headcount concerns that could weigh on near?term sentiment. Cboe is Slashing 20% of its Staff

Insider Buying and Selling at Cboe Global Markets

In other news, CAO Allen Wilkinson sold 248 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $292.79, for a total transaction of $72,611.92. Following the completion of the transaction, the chief accounting officer directly owned 410 shares in the company, valued at approximately $120,043.90. The trade was a 37.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Alexander Matturri, Jr. sold 1,500 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $285.36, for a total transaction of $428,040.00. Following the completion of the transaction, the director owned 4,761 shares of the company’s stock, valued at $1,358,598.96. This represents a 23.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 5,695 shares of company stock valued at $1,628,981 in the last ninety days. Company insiders own 0.51% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Sunbelt Securities Inc. lifted its holdings in Cboe Global Markets by 18.6% in the 4th quarter. Sunbelt Securities Inc. now owns 912 shares of the company’s stock valued at $229,000 after acquiring an additional 143 shares during the last quarter. Compound Planning Inc. boosted its position in shares of Cboe Global Markets by 40.6% in the 4th quarter. Compound Planning Inc. now owns 2,678 shares of the company’s stock valued at $672,000 after purchasing an additional 773 shares during the period. Invesco Ltd. increased its stake in Cboe Global Markets by 5.8% in the 4th quarter. Invesco Ltd. now owns 1,931,272 shares of the company’s stock worth $484,749,000 after purchasing an additional 105,168 shares in the last quarter. Corient Private Wealth LLC raised its holdings in Cboe Global Markets by 10.4% during the 4th quarter. Corient Private Wealth LLC now owns 88,384 shares of the company’s stock worth $20,661,000 after buying an additional 8,343 shares during the period. Finally, Alberta Investment Management Corp purchased a new stake in Cboe Global Markets during the fourth quarter valued at about $4,920,000. 81.73% of the stock is owned by institutional investors and hedge funds.

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. 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.

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