Cboe Global Markets (NASDAQ:CBOE) Posts Quarterly Earnings Results

Key Points

• Cboe Global Markets reported quarterly earnings of $2.46 per share, exceeding analysts' expectations of $2.43, with a year-over-year revenue increase of 14.3%.
• The company declared a quarterly dividend of $0.63 per share, reflecting an annualized rate of $2.52 and a yield of 1.0%.
• Cboe Global Markets' market capitalization is approximately $26.11 billion, with analysts giving it a consensus rating of "Hold" and an average price target of $222.58.

Cboe Global Markets (NASDAQ:CBOE - Get Free Report) posted its quarterly earnings results on Friday. The company reported $2.46 earnings per share for the quarter, topping analysts' consensus estimates of $2.43 by $0.03, Briefing.com reports. Cboe Global Markets had a net margin of 18.64% and a return on equity of 22.02%. The business's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.15 EPS.

Cboe Global Markets Price Performance

Cboe Global Markets stock traded up $8.29 during midday trading on Friday, reaching $249.33. 178,675 shares of the company were exchanged, compared to its average volume of 869,443. The firm's 50-day simple moving average is $231.63 and its 200-day simple moving average is $219.56. Cboe Global Markets has a 1 year low of $186.10 and a 1 year high of $249.38. The company has a market capitalization of $26.11 billion, a price-to-earnings ratio of 34.53, a P/E/G ratio of 1.75 and a beta of 0.43. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.39 and a current ratio of 1.78.

Cboe Global Markets Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, May 30th. Cboe Global Markets's dividend payout ratio (DPR) is currently 33.03%.

Insider Transactions at Cboe Global Markets

In other news, EVP Catherine R. Clay sold 3,598 shares of Cboe Global Markets stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $226.58, for a total transaction of $815,234.84. Following the completion of the sale, the executive vice president directly owned 2,183 shares in the company, valued at $494,624.14. The trade was a 62.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.22% of the company's stock.

Hedge Funds Weigh In On Cboe Global Markets

Institutional investors and hedge funds have recently modified their holdings of the company. Woodline Partners LP raised its holdings in Cboe Global Markets by 40.7% in the 1st quarter. Woodline Partners LP now owns 8,845 shares of the company's stock valued at $2,002,000 after acquiring an additional 2,558 shares during the last quarter. Empowered Funds LLC grew its position in shares of Cboe Global Markets by 132.4% in the first quarter. Empowered Funds LLC now owns 4,803 shares of the company's stock valued at $1,087,000 after purchasing an additional 2,736 shares during the period. Jones Financial Companies Lllp increased its stake in Cboe Global Markets by 1,854.4% in the first quarter. Jones Financial Companies Lllp now owns 4,202 shares of the company's stock valued at $951,000 after purchasing an additional 3,987 shares during the last quarter. Brighton Jones LLC lifted its position in Cboe Global Markets by 10.1% during the fourth quarter. Brighton Jones LLC now owns 1,092 shares of the company's stock worth $213,000 after buying an additional 100 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in Cboe Global Markets by 138.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 341 shares of the company's stock valued at $77,000 after buying an additional 198 shares during the period. Hedge funds and other institutional investors own 82.67% of the company's stock.

Wall Street Analysts Forecast Growth

CBOE has been the topic of a number of research analyst reports. Cowen reissued a "hold" rating on shares of Cboe Global Markets in a report on Monday, May 5th. Citigroup boosted their price target on Cboe Global Markets from $230.00 to $245.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Morgan Stanley set a $218.00 price objective on Cboe Global Markets and gave the company an "underweight" rating in a research note on Tuesday, July 15th. Loop Capital set a $227.00 target price on Cboe Global Markets in a report on Monday, May 5th. Finally, Oppenheimer lifted their price target on Cboe Global Markets from $249.00 to $253.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Cboe Global Markets has a consensus rating of "Hold" and an average price target of $222.58.

About Cboe Global Markets

Cboe Global Markets, Inc is one of the largest stock exchange operators by volume in the United States and a leading market globally for ETP trading. Cboe offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S. and European equities, exchange-traded products (ETPs), global foreign exchange (FX) and multi-asset volatility products based on the VIX Index.

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