CBOE Holdings Inc. (CBOE) Rating Lowered to Sector Perform at RBC Capital Markets
CBOE Holdings Inc. (NASDAQ:CBOE) was downgraded by analysts at RBC Capital Markets from an “outperform” rating to a “sector perform” rating in a report released on Tuesday. They presently have a $68.00 price target on the stock, down from their prior price target of $78.00. RBC Capital Markets’ target price points to a potential upside of 2.55% from the stock’s previous close.
CBOE has been the subject of a number of other research reports. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $61.00 price target on shares of CBOE Holdings in a report on Wednesday, August 3rd. Wells Fargo & Co. reaffirmed a “hold” rating on shares of CBOE Holdings in a report on Friday, September 23rd. Deutsche Bank AG reaffirmed a “hold” rating on shares of CBOE Holdings in a report on Sunday, July 10th. Zacks Investment Research lowered CBOE Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, September 7th. Finally, Bank of America Corp. lowered CBOE Holdings from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $68.29 to $65.00 in a research note on Thursday, August 11th. They noted that the move was a valuation call. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. CBOE Holdings presently has an average rating of “Hold” and a consensus target price of $65.46.
Shares of CBOE Holdings (NASDAQ:CBOE) opened at 66.31 on Tuesday. The company’s 50 day moving average price is $68.42 and its 200 day moving average price is $66.08. The stock has a market cap of $5.39 billion, a PE ratio of 25.08 and a beta of 0.54. CBOE Holdings has a 52-week low of $58.43 and a 52-week high of $72.53.
CBOE Holdings (NASDAQ:CBOE) last released its quarterly earnings results on Friday, July 29th. The company reported $0.60 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.60. The company earned $163.30 million during the quarter, compared to analysts’ expectations of $159.22 million. CBOE Holdings had a return on equity of 81.50% and a net margin of 32.55%. CBOE Holdings’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 EPS. On average, analysts anticipate that CBOE Holdings will post $2.40 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Wednesday, August 31st. CBOE Holdings’s dividend payout ratio is presently 37.88%.
In other CBOE Holdings news, CEO Edward T. Tilly sold 6,250 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $67.86, for a total transaction of $424,125.00. Following the transaction, the chief executive officer now directly owns 73,611 shares in the company, valued at $4,995,242.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.96% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBOE. Loomis Sayles & Co. L P boosted its position in CBOE Holdings by 0.7% in the first quarter. Loomis Sayles & Co. L P now owns 34,245 shares of the company’s stock worth $2,237,000 after buying an additional 226 shares during the period. UBS Group AG boosted its position in CBOE Holdings by 154.4% in the first quarter. UBS Group AG now owns 228,893 shares of the company’s stock worth $14,954,000 after buying an additional 138,933 shares during the period. Lazard Asset Management LLC boosted its position in CBOE Holdings by 76.5% in the first quarter. Lazard Asset Management LLC now owns 1,859,260 shares of the company’s stock worth $121,464,000 after buying an additional 806,144 shares during the period. State Street Corp boosted its position in CBOE Holdings by 1.0% in the first quarter. State Street Corp now owns 2,159,668 shares of the company’s stock worth $141,096,000 after buying an additional 21,575 shares during the period. Finally, Zebra Capital Management LLC boosted its position in CBOE Holdings by 30.5% in the first quarter. Zebra Capital Management LLC now owns 28,778 shares of the company’s stock worth $1,880,000 after buying an additional 6,718 shares during the period. Institutional investors own 74.20% of the company’s stock.
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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