Cboe Global Markets (BATS:CBOE) Sets New 12-Month High – Still a Buy?

Cboe Global Markets, Inc. (BATS:CBOE)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $207.28 and last traded at $205.70, with a volume of 1400979 shares. The stock had previously closed at $200.71.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CBOE. Morgan Stanley downgraded Cboe Global Markets from an “equal weight” rating to an “underweight” rating and set a $199.00 price target on the stock. in a report on Wednesday, November 6th. Keefe, Bruyette & Woods upped their target price on shares of Cboe Global Markets from $197.00 to $198.00 and gave the company a “market perform” rating in a research note on Monday, August 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $220.00 price target on shares of Cboe Global Markets in a report on Monday, November 4th. JPMorgan Chase & Co. raised shares of Cboe Global Markets from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $168.00 to $195.00 in a report on Monday, August 5th. Finally, TD Cowen initiated coverage on shares of Cboe Global Markets in a report on Thursday, September 26th. They issued a “hold” rating and a $205.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $209.42.

Cboe Global Markets Stock Up 1.8 %

The company’s 50 day moving average price is $207.80 and its two-hundred day moving average price is $193.49. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60. The firm has a market cap of $22.14 billion, a PE ratio of 105.67 and a beta of 0.61.

Cboe Global Markets (BATS:CBOE) last released its earnings results on Friday, November 1st. The company reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.03. The company had revenue of $532.00 million for the quarter, compared to the consensus estimate of $530.46 million. Cboe Global Markets had a return on equity of 20.05% and a net margin of 5.77%. Cboe Global Markets’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.06 earnings per share. On average, equities research analysts expect that Cboe Global Markets, Inc. will post 6.41 EPS for the current fiscal year.

Cboe Global Markets Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.21%. The ex-dividend date is Friday, November 29th. Cboe Global Markets’s payout ratio is currently 98.97%.

Cboe Global Markets declared that its board has initiated a share buyback plan on Friday, August 16th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy up to 2.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, CFO Jill Griebenow sold 1,622 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $213.33, for a total transaction of $346,021.26. Following the transaction, the chief financial officer now directly owns 8,844 shares of the company’s stock, valued at approximately $1,886,690.52. This represents a 15.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Christopher A. Isaacson sold 6,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.89, for a total value of $1,229,340.00. Following the sale, the chief operating officer now owns 39,855 shares in the company, valued at $8,165,890.95. The trade was a 13.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,696 shares of company stock worth $1,591,160 in the last three months. Corporate insiders own 0.51% of the company’s stock.

Institutional Trading of Cboe Global Markets

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CBOE. ORG Partners LLC purchased a new position in shares of Cboe Global Markets in the second quarter worth about $30,000. Friedenthal Financial acquired a new position in Cboe Global Markets in the 3rd quarter worth approximately $49,000. Ashton Thomas Private Wealth LLC purchased a new position in Cboe Global Markets during the 2nd quarter worth approximately $51,000. GPS Wealth Strategies Group LLC lifted its stake in Cboe Global Markets by 59.1% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 331 shares of the company’s stock valued at $56,000 after acquiring an additional 123 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in shares of Cboe Global Markets in the 3rd quarter valued at $66,000. 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.