Royal Bank of Canada Initiates Coverage on Cboe Global Markets (BATS:CBOE)

Royal Bank of Canada started coverage on shares of Cboe Global Markets (BATS:CBOE) in a note issued to investors on Friday, Marketbeat reports. The firm set a “sector perform” rating and a $220.00 price target on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 8.59% from the stock’s previous close.

Several other equities analysts have also recently weighed in on CBOE. JPMorgan Chase & Co. upgraded Cboe Global Markets from an “underweight” rating to a “neutral” rating and raised their price target for the company from $168.00 to $195.00 in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft raised their price target on Cboe Global Markets from $186.00 to $205.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Keefe, Bruyette & Woods raised their price target on Cboe Global Markets from $197.00 to $198.00 and gave the company a “market perform” rating in a report on Monday, August 5th. TD Cowen assumed coverage on Cboe Global Markets in a report on Thursday. They set a “hold” rating and a $205.00 price target for the company. Finally, Oppenheimer raised their price target on Cboe Global Markets from $199.00 to $209.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Cboe Global Markets currently has a consensus rating of “Hold” and an average price target of $201.62.

Cboe Global Markets Stock Down 1.4 %

CBOE stock opened at $202.60 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 business’s 50-day moving average is $202.98 and its two-hundred day moving average is $186.36. The company has a market cap of $21.49 billion, a price-to-earnings ratio of 104.43 and a beta of 0.61. Cboe Global Markets has a fifty-two week low of $103.82 and a fifty-two week high of $139.00.

Cboe Global Markets (BATS:CBOE) last issued its quarterly earnings results on Friday, August 2nd. The company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.05. Cboe Global Markets had a return on equity of 20.05% and a net margin of 5.77%. The business had revenue of $513.80 million during the quarter, compared to analysts’ expectations of $514.51 million. During the same quarter in the prior year, the business posted $1.78 earnings per share. The business’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, analysts forecast that Cboe Global Markets will post 6.41 earnings per share for the current year.

Cboe Global Markets declared that its Board of Directors has authorized a stock buyback program on Friday, August 16th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 2.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Cboe Global Markets news, EVP Dave Howson sold 2,500 shares of Cboe Global Markets stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $186.67, for a total transaction of $466,675.00. Following the completion of the sale, the executive vice president now owns 15,073 shares of the company’s stock, valued at approximately $2,813,676.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Jill Griebenow sold 1,622 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $213.33, for a total value of $346,021.26. Following the completion of the transaction, the chief financial officer now owns 8,844 shares of the company’s stock, valued at approximately $1,886,690.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Dave Howson sold 2,500 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $186.67, for a total value of $466,675.00. Following the completion of the transaction, the executive vice president now directly owns 15,073 shares of the company’s stock, valued at approximately $2,813,676.91. The disclosure for this sale can be found here. Insiders have sold a total of 18,261 shares of company stock worth $3,604,822 in the last ninety days. 0.51% of the stock is owned by insiders.

Hedge Funds Weigh In On Cboe Global Markets

A number of large investors have recently bought and sold shares of the business. Perpetual Ltd purchased a new stake in Cboe Global Markets during the 1st quarter worth approximately $74,868,000. Marshall Wace LLP grew its position in shares of Cboe Global Markets by 306.6% in the second quarter. Marshall Wace LLP now owns 533,839 shares of the company’s stock valued at $90,785,000 after purchasing an additional 402,547 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of Cboe Global Markets by 66.5% in the second quarter. Los Angeles Capital Management LLC now owns 617,041 shares of the company’s stock valued at $104,934,000 after purchasing an additional 246,442 shares in the last quarter. TD Asset Management Inc grew its position in shares of Cboe Global Markets by 36.2% in the second quarter. TD Asset Management Inc now owns 499,995 shares of the company’s stock valued at $85,029,000 after purchasing an additional 132,833 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in shares of Cboe Global Markets by 1,044.9% in the second quarter. Squarepoint Ops LLC now owns 119,673 shares of the company’s stock valued at $20,352,000 after purchasing an additional 109,220 shares in the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

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.