Cboe Global Markets (BATS:CBOE) Hits New 52-Week High on Better-Than-Expected Earnings

Cboe Global Markets, Inc. (BATS:CBOE) shares reached a new 52-week high during trading on Monday following a stronger than expected earnings report. The company traded as high as $183.68 and last traded at $182.53, with a volume of 919025 shares traded. The stock had previously closed at $179.67.

The company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.11. Cboe Global Markets had a return on equity of 20.05% and a net margin of 5.77%. The company had revenue of $502.10 million for the quarter, compared to the consensus estimate of $504.80 million. During the same period in the previous year, the business earned $1.90 earnings per share. Cboe Global Markets’s quarterly revenue was up 6.5% compared to the same quarter last year.

Cboe Global Markets Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.21%. The ex-dividend date was Wednesday, February 28th. Cboe Global Markets’s dividend payout ratio is currently 98.97%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $199.00 target price (down previously from $211.00) on shares of Cboe Global Markets in a report on Tuesday, April 9th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $197.00 price objective on shares of Cboe Global Markets in a research note on Thursday, April 4th. Rosenblatt Securities raised their price target on shares of Cboe Global Markets from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday. Bank of America boosted their price objective on shares of Cboe Global Markets from $200.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, Citigroup increased their target price on shares of Cboe Global Markets from $170.00 to $188.00 and gave the stock a “neutral” rating in a report on Friday, January 12th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $191.00.

Insider Activity at Cboe Global Markets

In other Cboe Global Markets news, EVP Dave Howson sold 8,314 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $183.88, for a total transaction of $1,528,778.32. Following the transaction, the executive vice president now owns 17,573 shares in the company, valued at approximately $3,231,323.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.51% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CBOE. FinTrust Capital Advisors LLC grew its holdings in Cboe Global Markets by 170.0% in the first quarter. FinTrust Capital Advisors LLC now owns 135 shares of the company’s stock worth $25,000 after purchasing an additional 85 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Cboe Global Markets in the 3rd quarter worth approximately $29,000. Optiver Holding B.V. acquired a new stake in Cboe Global Markets during the 4th quarter worth approximately $29,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Cboe Global Markets in the 4th quarter valued at $30,000. Finally, Allworth Financial LP grew its position 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 valued at $30,000 after buying an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Cboe Global Markets Price Performance

The stock has a market cap of $19.36 billion, a price-to-earnings ratio of 94.09 and a beta of 0.61. The company has a 50-day moving average of $182.47 and a 200-day moving average of $179.75. 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

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.