Morgan Stanley Reiterates “Equal Weight” Rating for CBOE Holdings Inc. (CBOE)
CBOE Holdings Inc. (NASDAQ:CBOE)‘s stock had its “equal weight” rating reiterated by investment analysts at Morgan Stanley in a research report issued to clients and investors on Wednesday. They currently have a $32.50 price objective on the stock, up from their prior price objective of $26.00. Morgan Stanley’s target price points to a potential downside of 51.35% from the stock’s previous close.
Several other brokerages also recently weighed in on CBOE. JPMorgan Chase & Co. restated a “hold” rating and set a $61.00 target price on shares of CBOE Holdings in a research note on Wednesday, August 3rd. Wells Fargo & Co. restated a “hold” rating on shares of CBOE Holdings in a research note on Friday, September 23rd. Evercore ISI upgraded CBOE Holdings from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Tuesday. Credit Agricole SA restated an “underperform” rating and set a $68.00 target price on shares of CBOE Holdings in a research note on Tuesday, September 27th. Finally, Deutsche Bank AG restated a “hold” rating on shares of CBOE Holdings in a research note on Sunday, July 10th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. CBOE Holdings has a consensus rating of “Hold” and an average target price of $65.26.
CBOE Holdings (NASDAQ:CBOE) traded down 0.43% on Wednesday, hitting $66.81. The stock had a trading volume of 692,651 shares. The company has a 50 day moving average price of $68.08 and a 200-day moving average price of $66.15. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 25.27 and a beta of 0.55. 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 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. The firm earned $163.30 million during the quarter, compared to analyst estimates of $159.22 million. CBOE Holdings had a return on equity of 81.50% and a net margin of 32.55%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS. On average, equities research analysts predict that CBOE Holdings will post $2.40 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were issued a $0.23 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.92 dividend on an annualized basis and a yield of 1.38%. CBOE Holdings’s payout ratio is 37.88%.
In related news, CEO Edward T. Tilly sold 6,250 shares of the company’s stock in a transaction dated Monday, September 12th. The stock was 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 owns 73,611 shares of the company’s stock, valued at approximately $4,995,242.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.96% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in CBOE. 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 last quarter. Emerald Acquisition Ltd. acquired a new position in CBOE Holdings during the second quarter worth $28,426,000. UBS Asset Management Americas Inc. boosted its position in CBOE Holdings by 537.5% in the second quarter. UBS Asset Management Americas Inc. now owns 365,071 shares of the company’s stock worth $24,321,000 after buying an additional 307,808 shares during the last quarter. FIL Ltd acquired a new position in CBOE Holdings during the second quarter worth $18,750,000. Finally, 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 last quarter. 73.76% 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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