Stock Repurchase Plan Authorized by Cboe Global Markets (BATS:CBOE) Board

Cboe Global Markets (BATS:CBOE) declared that its Board of Directors has authorized a stock repurchase plan on Thursday, October 22nd, RTT News reports. The company plans to buy back $550.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 1.6% of its shares through open market purchases. Share buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CBOE. Barclays decreased their target price on Cboe Global Markets from $354.00 to $343.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 7th. Loop Capital set a $343.00 price objective on shares of Cboe Global Markets in a report on Wednesday, October 7th. Wells Fargo & Company lifted their price objective on shares of Cboe Global Markets from $301.00 to $309.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 14th. Zacks Research cut shares of Cboe Global Markets from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Finally, TD Cowen boosted their target price on shares of Cboe Global Markets from $334.00 to $342.00 and gave the stock a “buy” rating in a report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $330.27.

Cboe Global Markets Price Performance

Shares of CBOE opened at $340.42 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market capitalization of $36.11 billion, a PE ratio of 175.48 and a beta of 0.61. Cboe Global Markets has a fifty-two week low of $227.15 and a fifty-two week high of $371.18. The company has a 50 day moving average price of $291.19 and a 200-day moving average price of $294.65.

Cboe Global Markets (BATS:CBOE) last released its earnings results on Friday, July 31st. The company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.07. Cboe Global Markets had a net margin of 5.77% and a return on equity of 20.05%. The company had revenue of $731.60 million during the quarter, compared to analysts’ expectations of $716.61 million. During the same period last year, the business earned $2.46 EPS. Cboe Global Markets’s revenue for the quarter was up 24.6% on a year-over-year basis. Equities analysts predict that Cboe Global Markets will post 6.41 earnings per share for the current fiscal year.

Cboe Global Markets Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be paid a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, November 30th. Cboe Global Markets’s dividend payout ratio (DPR) is currently 98.97%.

Insiders Place Their Bets

In other Cboe Global Markets news, Director Janet Froetscher sold 937 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $278.95, for a total transaction of $261,376.15. Following the completion of the sale, the director owned 12,870 shares of the company’s stock, valued at $3,590,086.50. This trade represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.51% of the stock is owned by insiders.

Cboe Global Markets Company Profile

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. and Canadian equities. This segment also offers exchange-traded products (ETP) transaction and listing services. The Europe and Asia Pacific segment provides pan-European listed equities and derivatives transaction services, ETPs, exchange-traded commodities, and international depository receipts, as well as ETP listings and clearing services.