CME Group (NASDAQ:CME) Price Target Cut to $240.00

CME Group (NASDAQ:CMEGet Rating) had its price target reduced by UBS Group from $246.00 to $240.00 in a report released on Tuesday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the financial services provider’s stock. UBS Group’s target price would suggest a potential upside of 21.37% from the stock’s previous close.

Other analysts also recently issued reports about the company. Morgan Stanley decreased their price target on CME Group from $242.00 to $226.00 and set an “equal weight” rating for the company in a report on Thursday, July 28th. Oppenheimer raised CME Group from a “market perform” rating to an “outperform” rating and set a $223.00 price target for the company in a report on Wednesday, May 25th. Raymond James decreased their price target on CME Group from $254.00 to $235.00 and set an “outperform” rating for the company in a report on Wednesday, July 6th. Atlantic Securities raised CME Group from a “neutral” rating to an “overweight” rating and set a $235.00 price target for the company in a report on Friday, June 10th. Finally, Rosenblatt Securities reduced their target price on CME Group from $268.00 to $267.00 and set a “neutral” rating for the company in a report on Thursday, April 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $237.67.

CME Group Trading Up 0.1 %

CME opened at $197.74 on Tuesday. CME Group has a 12 month low of $185.79 and a 12 month high of $256.94. The stock has a market capitalization of $71.07 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 3.15 and a beta of 0.40. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. The business has a fifty day moving average price of $202.59 and a 200 day moving average price of $219.90.

CME Group (NASDAQ:CMEGet Rating) last released its earnings results on Wednesday, July 27th. The financial services provider reported $1.97 EPS for the quarter, topping the consensus estimate of $1.89 by $0.08. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.25 billion. CME Group had a return on equity of 9.65% and a net margin of 60.43%. CME Group’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.64 EPS. Sell-side analysts expect that CME Group will post 7.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CME Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. increased its position in CME Group by 1.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 344,450 shares of the financial services provider’s stock worth $70,509,000 after purchasing an additional 5,129 shares during the period. Intermede Investment Partners Ltd increased its position in CME Group by 3.0% during the 2nd quarter. Intermede Investment Partners Ltd now owns 1,036,204 shares of the financial services provider’s stock worth $212,111,000 after purchasing an additional 29,987 shares during the period. CIBC Private Wealth Group LLC increased its position in CME Group by 2.9% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 1,471,508 shares of the financial services provider’s stock worth $301,219,000 after purchasing an additional 41,680 shares during the period. First National Trust Co increased its position in CME Group by 0.9% during the 2nd quarter. First National Trust Co now owns 21,271 shares of the financial services provider’s stock worth $4,354,000 after purchasing an additional 182 shares during the period. Finally, Van ECK Associates Corp increased its position in CME Group by 2.3% during the 2nd quarter. Van ECK Associates Corp now owns 42,301 shares of the financial services provider’s stock worth $8,659,000 after purchasing an additional 935 shares during the period. Institutional investors and hedge funds own 86.71% of the company’s stock.

CME Group Company Profile

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CME Group Inc, together with its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers futures and options products based on interest rates, equity indexes, foreign exchange, agricultural commodities, energy, and metals, as well as fixed income products.

Further Reading

Analyst Recommendations for CME Group (NASDAQ:CME)

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