CBOE Holdings Inc. (CBOE) Upgraded to “Buy” by Buckingham Research
Buckingham Research upgraded shares of CBOE Holdings Inc. (NASDAQ:CBOE) from a neutral rating to a buy rating in a report published on Tuesday. The firm currently has $77.00 price target on the stock, up from their prior price target of $66.00.
A number of other research firms have also commented on CBOE. RBC Capital Markets lowered shares of CBOE Holdings from an outperform rating to a sector perform rating and reduced their price target for the company from $78.00 to $68.00 in a research report on Tuesday. Credit Suisse Group AG upgraded shares of CBOE Holdings from an underperform rating to a neutral rating and upped their target price for the stock from $60.00 to $67.00 in a research report on Tuesday. Deutsche Bank AG upped their target price on shares of CBOE Holdings from $67.00 to $68.00 and gave the stock a hold rating in a research report on Friday, September 9th. Barclays PLC reiterated an underweight rating and issued a $52.00 target price (down from $54.00) on shares of CBOE Holdings in a research report on Friday, September 2nd. Finally, Zacks Investment Research upgraded shares of CBOE Holdings from a sell rating to a hold rating in a research report on Friday, September 16th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $65.46.
Shares of CBOE Holdings (NASDAQ:CBOE) traded down 1.30% on Tuesday, hitting $66.04. The stock had a trading volume of 346,842 shares. The company has a market capitalization of $5.37 billion, a PE ratio of 24.98 and a beta of 0.54. CBOE Holdings has a 1-year low of $58.43 and a 1-year high of $72.53. The firm has a 50-day moving average of $68.48 and a 200 day moving average of $66.07.
CBOE Holdings (NASDAQ:CBOE) last released its quarterly earnings results on Friday, July 29th. The company reported $0.60 EPS for the quarter, meeting analysts’ consensus estimates of $0.60. The firm earned $163.30 million during the quarter, compared to analyst estimates of $159.22 million. CBOE Holdings had a net margin of 32.55% and a return on equity of 81.50%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 EPS. On average, equities analysts anticipate that CBOE Holdings will post $2.40 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Wednesday, August 31st. CBOE Holdings’s payout ratio is currently 37.88%.
In related news, CEO Edward T. Tilly sold 6,250 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $67.86, for a total value of $424,125.00. Following the completion of the transaction, the chief executive officer now directly owns 73,611 shares of the company’s stock, valued at $4,995,242.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.96% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in CBOE. Norges Bank bought a new position in CBOE Holdings during the fourth quarter worth about $45,780,000. Aperio Group LLC increased its position in CBOE Holdings by 5.5% in the first quarter. Aperio Group LLC now owns 31,110 shares of the company’s stock worth $2,032,000 after buying an additional 1,621 shares during the last quarter. BlackRock Group LTD increased its position in CBOE Holdings by 66.4% in the first quarter. BlackRock Group LTD now owns 75,519 shares of the company’s stock worth $4,934,000 after buying an additional 30,147 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in CBOE Holdings by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,433,801 shares of the company’s stock worth $159,000,000 after buying an additional 9,704 shares during the last quarter. Finally, BlackRock Japan Co. Ltd increased its position in CBOE Holdings by 10.4% in the first quarter. BlackRock Japan Co. Ltd now owns 36,990 shares of the company’s stock worth $2,417,000 after buying an additional 3,490 shares during the last quarter. 74.20% of the stock is owned by institutional investors.
About CBOE Holdings
CBOE Holdings, Inc is a holding company. The Company’s principal business is operating markets that offer for trading options on various market indexes (index options), on an exclusive basis and futures contracts, as well as on non-exclusive multiply listed options, such as options on the stocks of individual corporations (equity options), and options on other exchange-traded products (ETP options), such as exchange-traded funds (ETF options) and exchange-traded notes (ETN options).
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