Citigroup Increases CME Group (NASDAQ:CME) Price Target to $240.00

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CME Group (NASDAQ:CME) had its target price lifted by analysts at Citigroup from $220.00 to $240.00 in a research note issued to investors on Monday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the financial services provider’s stock. Citigroup‘s price objective indicates a potential upside of 18.80% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. UBS Group raised their price objective on CME Group from $214.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Oppenheimer started coverage on CME Group in a report on Monday, September 16th. They set an “outperform” rating and a $234.00 price target for the company. BidaskClub cut CME Group from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Berenberg Bank cut CME Group from a “buy” rating to a “hold” rating and reduced their price target for the stock from $236.00 to $227.00 in a report on Thursday, September 19th. Finally, Deutsche Bank lifted their price target on CME Group from $224.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $203.14.

Shares of NASDAQ CME opened at $202.02 on Monday. The stock has a market capitalization of $76.33 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 4.51 and a beta of 0.20. The business has a 50-day moving average of $212.94 and a 200-day moving average of $199.21. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.05 and a quick ratio of 1.05. CME Group has a fifty-two week low of $161.05 and a fifty-two week high of $224.91.

CME Group (NASDAQ:CME) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.75 by $0.01. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. CME Group had a return on equity of 9.14% and a net margin of 39.36%. CME Group’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.74 EPS. On average, sell-side analysts expect that CME Group will post 6.79 EPS for the current year.

In other CME Group news, Director Daniel R. Glickman sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $216.01, for a total transaction of $108,005.00. Following the completion of the sale, the director now directly owns 14,593 shares in the company, valued at $3,152,233.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Terrence A. Duffy sold 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $200.15, for a total transaction of $7,005,250.00. Following the sale, the chief executive officer now owns 79,057 shares of the company’s stock, valued at $15,823,258.55. The disclosure for this sale can be found here. Insiders have sold 57,126 shares of company stock valued at $11,752,684 over the last 90 days. Company insiders own 1.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of CME. Nuveen Asset Management LLC raised its position in shares of CME Group by 18,355.3% in the second quarter. Nuveen Asset Management LLC now owns 3,238,530 shares of the financial services provider’s stock valued at $628,631,000 after buying an additional 3,220,982 shares in the last quarter. Parnassus Investments CA acquired a new stake in shares of CME Group in the second quarter valued at approximately $544,292,000. Magellan Asset Management Ltd acquired a new stake in shares of CME Group in the second quarter valued at approximately $418,297,000. Fiera Capital Corp raised its position in shares of CME Group by 17.0% in the second quarter. Fiera Capital Corp now owns 2,960,477 shares of the financial services provider’s stock valued at $574,658,000 after buying an additional 429,235 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its position in shares of CME Group by 30.4% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 1,664,500 shares of the financial services provider’s stock valued at $323,097,000 after buying an additional 388,008 shares in the last quarter. Hedge funds and other institutional investors own 84.90% of the company’s stock.

About CME Group

CME Group Inc, through its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers a range of products across various asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, and metals, as well as fixed income products.

See Also: CBOE Russell 2000® Volatility Index

Analyst Recommendations for CME Group (NASDAQ:CME)

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