Jefferies Group Reiterates Buy Rating for CME Group Inc. (CME)
CME Group Inc. (NASDAQ:CME)‘s stock had its “buy” rating reiterated by stock analysts at Jefferies Group in a research note issued on Thursday. They presently have a $118.00 price target on the stock. Jefferies Group’s price objective would indicate a potential upside of 13.17% from the stock’s current price.
Several other brokerages also recently issued reports on CME. Deutsche Bank AG increased their price objective on shares of CME Group from $111.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, August 5th. JPMorgan Chase & Co. increased their price objective on shares of CME Group from $99.00 to $106.00 and gave the company an “overweight” rating in a research report on Friday, July 29th. Zacks Investment Research raised shares of CME Group from a “sell” rating to a “hold” rating in a research report on Thursday, June 30th. Credit Agricole SA lowered their price objective on shares of CME Group from $100.00 to $95.00 and set an “underperform” rating for the company in a research report on Thursday, July 14th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of CME Group from $99.00 to $103.00 and gave the company a “market perform” rating in a research report on Friday, July 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. CME Group has an average rating of “Hold” and an average price target of $103.27.
CME Group (NASDAQ:CME) traded down 0.65% during trading on Thursday, hitting $103.59. 324,781 shares of the stock traded hands. CME Group has a 52-week low of $81.87 and a 52-week high of $110.35. The company’s 50 day moving average price is $106.54 and its 200-day moving average price is $99.60. The stock has a market cap of $35.10 billion, a P/E ratio of 26.16 and a beta of 0.83.
CME Group (NASDAQ:CME) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.03. CME Group had a net margin of 38.22% and a return on equity of 6.83%. The firm had revenue of $906 million for the quarter, compared to analyst estimates of $897.84 million. During the same quarter last year, the firm posted $0.95 earnings per share. CME Group’s revenue for the quarter was up 10.5% compared to the same quarter last year. Equities research analysts forecast that CME Group will post $4.43 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 26th. Shareholders of record on Friday, September 9th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Wednesday, September 7th. CME Group’s dividend payout ratio is presently 60.61%.
In other CME Group news, insider Hilda Harris Piell sold 893 shares of the firm’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $110.00, for a total value of $98,230.00. Following the sale, the insider now directly owns 29,125 shares in the company, valued at $3,203,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kimberly S. Taylor sold 2,300 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $102.58, for a total value of $235,934.00. Following the completion of the sale, the insider now owns 103,789 shares in the company, valued at $10,646,675.62. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its stake in CME Group by 447.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,621 shares of the company’s stock worth $157,000 after buying an additional 1,325 shares during the last quarter. Parametrica Management Ltd bought a new stake in CME Group during the second quarter worth about $212,000. Private Advisor Group LLC bought a new stake in CME Group during the second quarter worth about $214,000. Ranger International Management LP bought a new stake in CME Group during the second quarter worth about $219,000. Finally, Evercore Wealth Management LLC boosted its stake in shares of CME Group by 19.5% in the second quarter. Evercore Wealth Management LLC now owns 2,270 shares of the company’s stock worth $221,000 after buying an additional 370 shares in the last quarter. Institutional investors own 80.29% of the company’s stock.
CME Group Company Profile
CME Group Inc is a provider of products across all major asset classes, based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals. The Company’s products include both exchange-traded and privately negotiated futures and options contracts and swaps. The Company connects buyers and sellers together through its CME Globex electronic trading platform across the globe and its open outcry trading facilities in Chicago and New York City.
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