Jefferies Group Analysts Cut Earnings Estimates for CBOE Holdings Inc. (CBOE)
CBOE Holdings Inc. (NASDAQ:CBOE) – Analysts at Jefferies Group lowered their Q3 2016 earnings estimates for CBOE Holdings in a research report issued to clients and investors on Tuesday. Jefferies Group analyst D. Fannon now expects that the firm will earn $0.57 per share for the quarter, down from their previous forecast of $0.59. Jefferies Group has a “Hold” rating and a $66.00 price objective on the stock. Jefferies Group also issued estimates for CBOE Holdings’ FY2016 earnings at $2.38 EPS.
Several other brokerages have also recently commented on CBOE. Goldman Sachs Group Inc. reissued a “sell” rating and set a $61.00 price target on shares of CBOE Holdings in a research report on Tuesday, September 27th. RBC Capital Markets cut shares of CBOE Holdings from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $78.00 to $68.00 in a research report on Tuesday, September 27th. Morgan Stanley reissued an “equal weight” rating and set a $32.50 price target (up from $26.00) on shares of CBOE Holdings in a research report on Wednesday. Credit Suisse Group AG raised shares of CBOE Holdings from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $60.00 to $67.00 in a research report on Tuesday, September 27th. Finally, Barclays PLC reissued an “underweight” rating and set a $52.00 price target (down from $54.00) on shares of CBOE Holdings in a research report on Friday, September 2nd. Five research 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. The stock has a consensus rating of “Hold” and a consensus price target of $65.26.
CBOE Holdings (NASDAQ:CBOE) opened at 65.89 on Wednesday. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 24.92 and a beta of 0.55. CBOE Holdings has a 52 week low of $58.43 and a 52 week high of $72.53. The firm’s 50-day moving average price is $67.96 and its 200-day moving average price is $66.16.
CBOE Holdings (NASDAQ:CBOE) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.60 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.60. CBOE Holdings had a return on equity of 81.50% and a net margin of 32.55%. The business earned $163.30 million during the quarter, compared to analyst estimates of $159.22 million. During the same period in the prior year, the company posted $0.54 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, August 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.40%. CBOE Holdings’s payout ratio is presently 37.88%.
In other CBOE Holdings news, CEO Edward T. Tilly sold 6,250 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $67.86, for a total transaction of $424,125.00. Following the transaction, the chief executive officer now owns 73,611 shares in the company, valued at approximately $4,995,242.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.96% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC increased its stake in shares of 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. Emerald Acquisition Ltd. purchased a new stake in shares of CBOE Holdings during the second quarter worth $28,426,000. UBS Asset Management Americas Inc. increased its stake in shares of 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 period. FIL Ltd purchased a new stake in shares of CBOE Holdings during the second quarter worth $18,750,000. Finally, UBS Group AG increased its stake in shares of 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. 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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