Cboe Global Markets (BATS:CBOE) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Cboe Global Markets (BATS:CBOE) from a hold rating to a strong-buy rating in a report issued on Monday morning,Zacks.com reports.

CBOE has been the topic of a number of other reports. Morgan Stanley upped their target price on Cboe Global Markets from $246.00 to $273.00 and gave the stock an “underweight” rating in a research report on Friday, April 10th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $303.00 target price on shares of Cboe Global Markets in a research report on Monday, February 9th. Erste Group Bank lowered Cboe Global Markets from a “buy” rating to a “hold” rating in a research report on Friday, June 5th. Piper Sandler upped their target price on Cboe Global Markets from $295.00 to $321.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Finally, Barclays increased their price target on Cboe Global Markets from $351.00 to $382.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $322.60.

Cboe Global Markets Price Performance

Shares of CBOE opened at $290.60 on Monday. Cboe Global Markets has a 52-week low of $218.58 and a 52-week high of $371.18. 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 business’s 50 day moving average price is $316.81 and its two-hundred day moving average price is $286.37. The firm has a market cap of $30.82 billion, a PE ratio of 149.79 and a beta of 0.61.

Cboe Global Markets (BATS:CBOE) last issued its earnings results on Friday, May 1st. The company reported $3.70 earnings per share for the quarter, topping analysts’ consensus estimates of $3.37 by $0.33. Cboe Global Markets had a return on equity of 20.05% and a net margin of 5.77%.The company had revenue of $728.90 million for the quarter, compared to analyst estimates of $688.36 million. During the same period in the prior year, the firm earned $2.50 earnings per share. Cboe Global Markets’s revenue for the quarter was up 29.0% on a year-over-year basis. On average, equities analysts anticipate that Cboe Global Markets will post 6.41 EPS for the current year.

Cboe Global Markets Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, May 29th. Cboe Global Markets’s dividend payout ratio is presently 98.97%.

Insider Buying and Selling

In related news, Director Janet P. Froetscher sold 1,223 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $358.09, for a total value of $437,944.07. Following the completion of the sale, the director directly owned 13,807 shares of the company’s stock, valued at approximately $4,944,148.63. This represents a 8.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.51% of the company’s stock.

Institutional Investors Weigh In On Cboe Global Markets

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sound Income Strategies LLC raised its position in Cboe Global Markets by 102.2% in the 4th quarter. Sound Income Strategies LLC now owns 91 shares of the company’s stock valued at $25,000 after buying an additional 46 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in Cboe Global Markets in the 4th quarter valued at $26,000. NFSG Corp bought a new position in Cboe Global Markets in the 1st quarter valued at $31,000. Headlands Technologies LLC bought a new position in Cboe Global Markets in the 2nd quarter valued at $31,000. Finally, Elyxium Wealth LLC bought a new position in Cboe Global Markets in the 4th quarter valued at $33,000. 81.73% of the stock is owned by hedge funds and other institutional investors.

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.