Jefferies Financial Group Weighs in on Cboe Global Markets, Inc.’s Q4 2022 Earnings (BATS:CBOE)

Cboe Global Markets, Inc. (BATS:CBOE – Get Rating) – Equities research analysts at Jefferies Financial Group increased their Q4 2022 earnings estimates for shares of Cboe Global Markets in a report released on Tuesday, January 10th. Jefferies Financial Group analyst D. Fannon now forecasts that the company will post earnings of $1.76 per share for the quarter, up from their prior estimate of $1.53. The consensus estimate for Cboe Global Markets’ current full-year earnings is $6.41 per share. Jefferies Financial Group also issued estimates for Cboe Global Markets’ Q1 2023 earnings at $1.79 EPS, Q4 2023 earnings at $1.74 EPS, Q1 2024 earnings at $1.93 EPS, Q4 2024 earnings at $1.85 EPS and FY2024 earnings at $7.60 EPS.

Cboe Global Markets (BATS:CBOE – Get Rating) last issued its quarterly earnings results on Friday, November 4th. The company reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.09. The company had revenue of $442.40 million during the quarter, compared to analysts’ expectations of $441.61 million. Cboe Global Markets had a net margin of 5.77% and a return on equity of 20.05%. Cboe Global Markets’s revenue was up 19.7% on a year-over-year basis. During the same period last year, the company posted $1.45 EPS.

CBOE has been the subject of a number of other research reports. JPMorgan Chase & Co. reduced their price objective on Cboe Global Markets from $131.00 to $125.00 and set an “underweight” rating for the company in a research report on Monday, January 9th. Deutsche Bank Aktiengesellschaft reduced their price target on Cboe Global Markets from $144.00 to $142.00 in a report on Wednesday. Rosenblatt Securities upped their price target on shares of Cboe Global Markets from $162.00 to $168.00 and gave the stock a “buy” rating in a research note on Monday, November 7th. Redburn Partners assumed coverage on shares of Cboe Global Markets in a report on Monday, November 14th. They issued a “neutral” rating for the company. Finally, Credit Suisse Group upgraded shares of Cboe Global Markets from a “neutral” rating to an “outperform” rating and dropped their target price for the stock from $159.00 to $144.00 in a research note on Thursday, January 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Cboe Global Markets has an average rating of “Hold” and an average target price of $139.67.

Cboe Global Markets Price Performance

CBOE stock opened at $124.49 on Friday. 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 firm has a 50 day moving average price of $124.57 and a 200-day moving average price of $122.18. Cboe Global Markets has a 52-week low of $103.82 and a 52-week high of $139.00. The firm has a market capitalization of $13.20 billion, a price-to-earnings ratio of 63.80 and a beta of 0.61.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. raised its holdings in Cboe Global Markets by 0.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 11,640 shares of the company’s stock worth $1,366,000 after purchasing an additional 85 shares during the period. Exencial Wealth Advisors LLC lifted its position in shares of Cboe Global Markets by 3.0% during the 3rd quarter. Exencial Wealth Advisors LLC now owns 3,258 shares of the company’s stock valued at $382,000 after buying an additional 96 shares in the last quarter. State of Michigan Retirement System grew its stake in shares of Cboe Global Markets by 0.3% during the 3rd quarter. State of Michigan Retirement System now owns 28,703 shares of the company’s stock valued at $3,369,000 after acquiring an additional 100 shares during the period. Comerica Bank increased its holdings in Cboe Global Markets by 0.8% in the 2nd quarter. Comerica Bank now owns 12,779 shares of the company’s stock worth $1,557,000 after acquiring an additional 102 shares in the last quarter. Finally, Fortem Financial Group LLC raised its stake in Cboe Global Markets by 0.9% during the 3rd quarter. Fortem Financial Group LLC now owns 11,178 shares of the company’s stock worth $1,312,000 after acquiring an additional 105 shares during the period. 81.73% of the stock is currently owned by institutional investors.

Insider Activity at Cboe Global Markets

In other Cboe Global Markets news, CAO Jill Griebenow sold 400 shares of the business’s stock in a transaction on Monday, December 5th. The shares were sold at an average price of $128.00, for a total transaction of $51,200.00. Following the completion of the sale, the chief accounting officer now directly owns 7,230 shares in the company, valued at approximately $925,440. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CAO Jill Griebenow sold 400 shares of the firm’s stock in a transaction on Monday, December 5th. The stock was sold at an average price of $128.00, for a total value of $51,200.00. Following the transaction, the chief accounting officer now directly owns 7,230 shares in the company, valued at approximately $925,440. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John P. Sexton sold 2,872 shares of the company’s stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $127.00, for a total value of $364,744.00. Following the sale, the executive vice president now owns 15,190 shares of the company’s stock, valued at approximately $1,929,130. The disclosure for this sale can be found here. 0.51% of the stock is owned by insiders.

Cboe Global Markets Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.61%. This is a boost from Cboe Global Markets’s previous quarterly dividend of $0.48. Cboe Global Markets’s payout ratio is presently 98.97%.

About Cboe Global Markets

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Cboe Global Markets, Inc, through its subsidiaries, operates as an options exchange worldwide. It operates through five segments: Options, North American Equities, Futures, Europe and Asia Pacific, and Global FX. The Options segment trades in listed market indices. The North American Equities segment trades in listed U.S.