Cboe Global Markets (NASDAQ:CBOE) Reaches New 12-Month High Following Earnings Beat

Key Points

• Cboe Global Markets reached a new 52-week high of $249.63 after reporting quarterly earnings that exceeded expectations, with an EPS of $2.46 against a consensus estimate of $2.43.
• The company announced a quarterly dividend of $0.63 per share, resulting in an annualized yield of 1.0% and a payout ratio of 33.03%.
• Recent price targets for Cboe Global Markets have been raised by several analysts, with Piper Sandler setting a new target of $250.00 and Oppenheimer increasing theirs to $253.00, indicating positive investor sentiment.

Shares of Cboe Global Markets, Inc. (NASDAQ:CBOE - Get Free Report) reached a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $249.63 and last traded at $247.80, with a volume of 313779 shares traded. The stock had previously closed at $241.04.

The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.03. Cboe Global Markets had a return on equity of 22.02% and a net margin of 18.64%. The business's quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the business posted $2.15 EPS.

Cboe Global Markets Announces Dividend

The firm also recently declared 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 dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 30th. Cboe Global Markets's dividend payout ratio (DPR) is presently 33.03%.

Analysts Set New Price Targets

Several equities analysts have weighed in on CBOE shares. Piper Sandler increased their price objective on Cboe Global Markets from $245.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Citigroup raised their price target on Cboe Global Markets from $230.00 to $245.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Cowen restated a "hold" rating on shares of Cboe Global Markets in a research report on Monday, May 5th. Bank of America restated a "neutral" rating and set a $227.00 price target (down previously from $260.00) on shares of Cboe Global Markets in a research report on Thursday, April 10th. Finally, Oppenheimer raised their price target on Cboe Global Markets from $249.00 to $253.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $222.58.

Insiders Place Their Bets

In other news, EVP Catherine R. Clay sold 3,598 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $226.58, for a total transaction of $815,234.84. Following the transaction, the executive vice president directly owned 2,183 shares of the company's stock, valued at approximately $494,624.14. This trade represents a 62.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cboe Global Markets

A number of hedge funds and other institutional investors have recently modified their holdings of CBOE. Clearstead Trust LLC purchased a new position in shares of Cboe Global Markets in the first quarter worth $26,000. Missouri Trust & Investment Co acquired a new stake in shares of Cboe Global Markets in the second quarter valued at about $26,000. NBC Securities Inc. acquired a new stake in shares of Cboe Global Markets in the first quarter valued at about $27,000. Greenline Partners LLC acquired a new position in Cboe Global Markets during the fourth quarter worth about $29,000. Finally, Hughes Financial Services LLC acquired a new position in Cboe Global Markets during the first quarter worth about $29,000. 82.67% of the stock is currently owned by institutional investors.

Cboe Global Markets Stock Up 3.1%

The company has a current ratio of 1.78, a quick ratio of 1.39 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $26.01 billion, a price-to-earnings ratio of 34.41, a price-to-earnings-growth ratio of 1.75 and a beta of 0.43. The firm's fifty day simple moving average is $231.63 and its two-hundred day simple moving average is $219.56.

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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