Cboe Global Markets (BATS:CBOE) Cut to “Hold” at The Goldman Sachs Group

The Goldman Sachs Group cut shares of Cboe Global Markets (BATS:CBOE) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday morning,Zacks reports.

Several other equities analysts have also commented on the company. TD Cowen raised their price target on Cboe Global Markets from $342.00 to $417.00 and gave the company a “buy” rating in a research note on Monday, November 2nd. Piper Sandler lowered their price objective on shares of Cboe Global Markets from $355.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Loop Capital set a $332.00 target price on shares of Cboe Global Markets in a report on Wednesday, October 28th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Cboe Global Markets in a research report on Monday, August 3rd. Finally, Morgan Stanley restated an “overweight” rating and issued a $450.00 price target on shares of Cboe Global Markets in a report on Friday, October 23rd. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Cboe Global Markets presently has a consensus rating of “Hold” and an average price target of $363.00.

Cboe Global Markets Price Performance

Shares of BATS:CBOE opened at $353.27 on Wednesday. The firm has a market cap of $37.47 billion, a price-to-earnings ratio of 182.10 and a beta of 0.61. Cboe Global Markets has a fifty-two week low of $227.15 and a fifty-two 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 has a 50-day simple moving average of $298.63 and a two-hundred day simple moving average of $293.83.

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

Cboe Global Markets Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, November 30th. Cboe Global Markets’s dividend payout ratio is currently 98.97%.

Cboe Global Markets announced that its board has authorized a share repurchase program on Thursday, October 22nd that permits the company to repurchase $550 million in shares. This repurchase authorization permits the company to repurchase up to 1.6% of its shares through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Cboe Global Markets news, Director Janet Froetscher sold 937 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $278.95, for a total value of $261,376.15. Following the transaction, the director owned 12,870 shares of the company’s stock, valued at approximately $3,590,086.50. This represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.51% of the company’s stock.

Institutional Trading of Cboe Global Markets

Several institutional investors and hedge funds have recently bought and sold shares of CBOE. BlackRock Inc. acquired a new stake in Cboe Global Markets during the 2nd quarter valued at $2,474,799,000. Deutsche Bank AG bought a new stake in shares of Cboe Global Markets during the 2nd quarter worth $491,465,000. Jupiter Topco LLC purchased a new position in Cboe Global Markets in the second quarter valued at about $304,917,000. Legal & General Group Plc purchased a new position in shares of Cboe Global Markets during the 2nd quarter valued at $175,870,000. Finally, Bank of America Corp DE purchased a new position in shares of Cboe Global Markets in the second quarter worth about $162,794,000. 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.