Cboe Global Markets (BATS:CBOE) Reaches New 1-Year High Following Earnings Beat

Cboe Global Markets, Inc. (BATS:CBOE)’s share price hit a new 52-week high during trading on Monday following a better than expected earnings announcement. The stock traded as high as $183.68 and last traded at $182.53, with a volume of 919025 shares traded. The stock had previously closed at $179.67.

The company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.11. The company had revenue of $502.10 million for the quarter, compared to analysts’ expectations of $504.80 million. Cboe Global Markets had a return on equity of 20.05% and a net margin of 5.77%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $1.90 earnings per share.

Cboe Global Markets Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Wednesday, February 28th. Cboe Global Markets’s payout ratio is currently 98.97%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CBOE. Bank of America lifted their price target on shares of Cboe Global Markets from $200.00 to $204.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Morgan Stanley reiterated an “equal weight” rating and issued a $199.00 price target (down previously from $211.00) on shares of Cboe Global Markets in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $197.00 price target on shares of Cboe Global Markets in a report on Thursday, April 4th. Citigroup raised their price target on shares of Cboe Global Markets from $170.00 to $188.00 and gave the stock a “neutral” rating in a report on Friday, January 12th. Finally, Oppenheimer restated an “outperform” rating and set a $206.00 price target on shares of Cboe Global Markets in a report on Monday. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $191.00.

Insider Activity

In other news, EVP Dave Howson sold 8,314 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $183.88, for a total value of $1,528,778.32. Following the transaction, the executive vice president now directly owns 17,573 shares of the company’s stock, valued at approximately $3,231,323.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.51% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Metis Global Partners LLC raised its holdings in Cboe Global Markets by 12.7% during the 3rd quarter. Metis Global Partners LLC now owns 5,239 shares of the company’s stock worth $818,000 after purchasing an additional 592 shares during the last quarter. Exencial Wealth Advisors LLC grew its stake in shares of Cboe Global Markets by 17.7% during the third quarter. Exencial Wealth Advisors LLC now owns 3,427 shares of the company’s stock worth $535,000 after purchasing an additional 516 shares during the period. Monument Capital Management bought a new stake in Cboe Global Markets in the fourth quarter valued at about $215,000. Illinois Municipal Retirement Fund boosted its holdings in Cboe Global Markets by 30.8% during the fourth quarter. Illinois Municipal Retirement Fund now owns 8,004 shares of the company’s stock worth $1,429,000 after buying an additional 1,883 shares during the last quarter. Finally, McGuire Investment Group LLC raised its position in shares of Cboe Global Markets by 0.9% in the 4th quarter. McGuire Investment Group LLC now owns 94,024 shares of the company’s stock valued at $16,789,000 after acquiring an additional 867 shares during the period. Institutional investors own 81.73% of the company’s stock.

Cboe Global Markets Stock Performance

The stock’s fifty day moving average is $182.47 and its 200-day moving average is $179.75. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.60. The stock has a market cap of $19.36 billion, a price-to-earnings ratio of 92.61 and a beta of 0.61.

About Cboe Global Markets

Cboe Global Markets, Inc, through its subsidiaries, operates as an options exchange worldwide. It operates through six segments: Options, North American Equities, Europe and Asia Pacific, Futures, Global FX, and Digital. The Options segment trades in listed market indices. The North American Equities segment trades in listed U.S.