Cboe Global Markets (CBOE) Cut to “Hold” at BidaskClub

BidaskClub cut shares of Cboe Global Markets (NASDAQ:CBOE) from a buy rating to a hold rating in a report issued on Friday morning.

CBOE has been the subject of several other research reports. Wells Fargo increased their price target on Cboe Global Markets from $4.75 to $138.00 and gave the company an outperform rating in a research note on Friday, January 5th. Deutsche Bank raised their target price on Cboe Global Markets from $127.00 to $128.00 and gave the stock a buy rating in a research note on Tuesday, March 6th. UBS reaffirmed a buy rating and set a $120.00 target price (down previously from $136.00) on shares of Cboe Global Markets in a research note on Tuesday, February 13th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $130.00 target price on shares of Cboe Global Markets in a research note on Friday, December 22nd. Finally, Rosenblatt Securities raised Cboe Global Markets from a neutral rating to a buy rating in a research note on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Cboe Global Markets presently has an average rating of Hold and an average price target of $120.00.

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Shares of CBOE stock opened at $109.34 on Friday. The stock has a market capitalization of $12,323.15, a PE ratio of 32.06, a P/E/G ratio of 1.34 and a beta of 0.62. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.40. Cboe Global Markets has a 1-year low of $80.00 and a 1-year high of $138.54.

Cboe Global Markets (NASDAQ:CBOE) last issued its quarterly earnings results on Friday, February 9th. The financial services provider reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.01). The company had revenue of $265.60 million during the quarter, compared to analyst estimates of $267.25 million. Cboe Global Markets had a net margin of 17.80% and a return on equity of 12.74%. The company’s quarterly revenue was up 85.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS. research analysts predict that Cboe Global Markets will post 4.64 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Friday, March 2nd were issued a $0.27 dividend. The ex-dividend date of this dividend was Thursday, March 1st. This represents a $1.08 annualized dividend and a yield of 0.99%. Cboe Global Markets’s payout ratio is currently 31.58%.

Cboe Global Markets declared that its Board of Directors has initiated a stock repurchase program on Tuesday, February 27th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

A number of large investors have recently made changes to their positions in CBOE. BlackRock Inc. lifted its holdings in shares of Cboe Global Markets by 10.8% in the fourth quarter. BlackRock Inc. now owns 8,088,983 shares of the financial services provider’s stock valued at $1,007,804,000 after purchasing an additional 786,423 shares in the last quarter. Guggenheim Capital LLC lifted its holdings in shares of Cboe Global Markets by 84.3% in the fourth quarter. Guggenheim Capital LLC now owns 624,576 shares of the financial services provider’s stock valued at $77,815,000 after purchasing an additional 285,612 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Cboe Global Markets by 46.8% in the third quarter. Janus Henderson Group PLC now owns 704,403 shares of the financial services provider’s stock valued at $75,815,000 after purchasing an additional 224,513 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Cboe Global Markets by 163.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 236,767 shares of the financial services provider’s stock valued at $29,499,000 after purchasing an additional 146,867 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Cboe Global Markets by 39.6% in the fourth quarter. Franklin Resources Inc. now owns 508,960 shares of the financial services provider’s stock valued at $63,411,000 after purchasing an additional 144,467 shares in the last quarter. Institutional investors and hedge funds own 84.05% of the company’s stock.

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About Cboe Global Markets

Cboe Global Markets, Inc, through its subsidiaries, operates as an options exchange in the United States. The company operates in five segments: Options, U.S. Equities, Futures, European Equities, and Global FX. The Options segment trades in listed market indexes. The U.S. Equities segment trades in listed cash equities; and provides exchange-traded products (ETP) transaction and ETP listing services.

Analyst Recommendations for Cboe Global Markets (NASDAQ:CBOE)

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