Cboe Global Markets (BATS:CBOE) Sets New 52-Week High – Here’s What Happened

Shares of Cboe Global Markets, Inc. (BATS:CBOE) hit a new 52-week high on Wednesday. The company traded as high as $371.21 and last traded at $369.19, with a volume of 1,246,378 shares trading hands. The stock had previously closed at $364.81.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Barclays upped their target price on shares of Cboe Global Markets from $343.00 to $392.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. Deutsche Bank reissued a “buy” rating on shares of Cboe Global Markets in a research report on Monday, August 3rd. JPMorgan Chase & Co. boosted their price target on shares of Cboe Global Markets from $288.00 to $332.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 28th. Loop Capital set a $332.00 price objective on Cboe Global Markets in a research report on Wednesday, October 28th. Finally, Wells Fargo & Company upped their price objective on Cboe Global Markets from $309.00 to $357.00 and gave the stock an “equal weight” rating in a research report on Monday, November 2nd. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $363.00.

Cboe Global Markets Trading Up 1.2%

The company’s fifty day moving average is $300.77 and its two-hundred day moving average is $294.66. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.60. The stock has a market cap of $39.16 billion, a price-to-earnings ratio of 190.31 and a beta of 0.61.

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

Cboe Global Markets Dividend Announcement

The company also recently announced 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. The ex-dividend date is Monday, November 30th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 0.9%. Cboe Global Markets’s payout ratio is presently 98.97%.

Cboe Global Markets announced that its Board of Directors has initiated a share buyback program on Thursday, October 22nd that allows the company to repurchase $550 million in shares. This buyback authorization allows the company to repurchase up to 1.6% of its stock through open market purchases. Share buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Cboe Global Markets

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Cboe Global Markets during the second quarter worth approximately $2,474,799,000. Deutsche Bank AG acquired a new stake in Cboe Global Markets during the 2nd quarter worth $491,465,000. Jupiter Topco LLC acquired a new stake in Cboe Global Markets during the 2nd quarter worth $304,917,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Cboe Global Markets by 5.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 987,606 shares of the company’s stock worth $239,662,000 after acquiring an additional 51,784 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in Cboe Global Markets by 2.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 875,775 shares of the company’s stock valued at $236,512,000 after acquiring an additional 17,321 shares during the last quarter. Institutional investors and hedge funds 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.