Cboe Global Markets (BATS:CBOE) Hits New 12-Month High on Strong Earnings

Cboe Global Markets, Inc. (BATS:CBOEGet Free Report)’s share price hit a new 52-week high during trading on Monday following a better than expected earnings announcement. The company traded as high as $182.83 and last traded at $181.99, with a volume of 801859 shares changing hands. The stock had previously closed at $182.78.

The company reported $2.06 EPS for the quarter, beating the consensus estimate of $2.04 by $0.02. The firm had revenue of $499.00 million during the quarter, compared to analysts’ expectations of $510.65 million. Cboe Global Markets had a net margin of 5.77% and a return on equity of 20.05%. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.80 EPS.

Cboe Global Markets declared that its board has approved a stock buyback plan on Thursday, October 26th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to purchase up to 1.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

CBOE has been the subject of several research analyst reports. Oppenheimer upped their target price on shares of Cboe Global Markets from $201.00 to $206.00 and gave the company an “outperform” rating in a research note on Monday. Barclays cut their target price on shares of Cboe Global Markets from $204.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday. Piper Sandler boosted their price target on shares of Cboe Global Markets from $177.00 to $193.00 and gave the company an “overweight” rating in a report on Tuesday, November 21st. Rosenblatt Securities boosted their price target on shares of Cboe Global Markets from $192.00 to $200.00 and gave the company a “buy” rating in a report on Monday. Finally, Argus lowered shares of Cboe Global Markets from a “buy” rating to a “hold” rating in a report on Thursday, November 16th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $183.78.

View Our Latest Analysis on CBOE

Insider Transactions at Cboe Global Markets

In other news, EVP Catherine R. Clay sold 1,300 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $179.62, for a total value of $233,506.00. Following the sale, the executive vice president now owns 4,214 shares of the company’s stock, valued at approximately $756,918.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.51% of the stock is owned by insiders.

Institutional Investors Weigh In On Cboe Global Markets

Large investors have recently made changes to their positions in the company. Clear Street Markets LLC grew its holdings in shares of Cboe Global Markets by 93.5% in the 1st quarter. Clear Street Markets LLC now owns 207 shares of the company’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Cboe Global Markets in the 3rd quarter worth about $29,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Cboe Global Markets in the 4th quarter worth about $30,000. Allworth Financial LP grew its holdings in shares of Cboe Global Markets by 75.3% in the 4th quarter. Allworth Financial LP now owns 170 shares of the company’s stock worth $30,000 after purchasing an additional 73 shares during the last quarter. Finally, ORG Partners LLC acquired a new position in Cboe Global Markets during the 4th quarter worth about $31,000. Institutional investors own 81.73% of the company’s stock.

Cboe Global Markets Trading Down 0.7 %

The company’s 50-day moving average is $179.69 and its 200-day moving average is $165.67. The firm has a market cap of $19.13 billion, a price-to-earnings ratio of 93.00 and a beta of 0.61. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.21 and a current ratio of 1.21.

About Cboe Global Markets

(Get Free Report)

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.

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