Bank of America Raises CME Group (CME) Price Target to $185.00

CME Group (NASDAQ:CME) had its target price raised by Bank of America from $175.00 to $185.00 in a research note issued to investors on Thursday morning. They currently have a buy rating on the financial services provider’s stock.

Several other equities research analysts have also recently issued reports on CME. ValuEngine cut CME Group from a buy rating to a hold rating in a report on Wednesday. Zacks Investment Research cut CME Group from a buy rating to a hold rating in a report on Tuesday, March 6th. Barclays lifted their target price on CME Group from $170.00 to $175.00 and gave the stock an overweight rating in a report on Friday, February 2nd. Berenberg Bank began coverage on CME Group in a report on Thursday, January 25th. They issued a hold rating and a $170.00 target price on the stock. Finally, Sandler O’Neill reaffirmed a buy rating and issued a $175.00 target price on shares of CME Group in a report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. CME Group presently has an average rating of Buy and a consensus price target of $157.77.

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Shares of CME Group (NASDAQ:CME) traded up $2.98 during mid-day trading on Thursday, hitting $171.42. The stock had a trading volume of 1,942,883 shares, compared to its average volume of 1,900,000. CME Group has a 1 year low of $114.82 and a 1 year high of $171.71. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $58,350.00, a PE ratio of 39.87, a price-to-earnings-growth ratio of 2.20 and a beta of 0.54.

CME Group (NASDAQ:CME) last issued its earnings results on Thursday, February 1st. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.02. CME Group had a return on equity of 7.68% and a net margin of 111.49%. The firm had revenue of $900.00 million for the quarter, compared to analysts’ expectations of $886.85 million. During the same period in the previous year, the firm posted $1.14 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. research analysts forecast that CME Group will post 6.47 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Shareholders of record on Friday, March 9th will be paid a dividend of $0.70 per share. This is a boost from CME Group’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Thursday, March 8th. CME Group’s payout ratio is presently 65.12%.

In other CME Group news, Director Ronald A. Pankau sold 200 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $159.91, for a total transaction of $31,982.00. Following the completion of the transaction, the director now owns 3,809 shares in the company, valued at $609,097.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John W. Pietrowicz sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $151.50, for a total value of $1,136,250.00. Following the transaction, the chief financial officer now owns 32,376 shares of the company’s stock, valued at approximately $4,904,964. The disclosure for this sale can be found here. Insiders have sold 43,024 shares of company stock worth $6,620,113 over the last three months. 0.57% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the business. California Public Employees Retirement System boosted its position in shares of CME Group by 7.8% during the third quarter. California Public Employees Retirement System now owns 837,382 shares of the financial services provider’s stock valued at $113,616,000 after buying an additional 60,652 shares during the period. Nippon Life Global Investors Americas Inc. boosted its position in shares of CME Group by 6.1% during the third quarter. Nippon Life Global Investors Americas Inc. now owns 87,970 shares of the financial services provider’s stock valued at $11,935,000 after buying an additional 5,080 shares during the period. Ontario Teachers Pension Plan Board boosted its position in shares of CME Group by 12.4% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 81,393 shares of the financial services provider’s stock valued at $11,887,000 after buying an additional 8,991 shares during the period. First National Trust Co. boosted its position in shares of CME Group by 21.8% during the third quarter. First National Trust Co. now owns 16,699 shares of the financial services provider’s stock valued at $2,266,000 after buying an additional 2,990 shares during the period. Finally, Honeywell International Inc. purchased a new position in shares of CME Group during the fourth quarter valued at approximately $35,052,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

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About CME Group

CME Group Inc, through its exchanges, provides products across all asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The Company’s segment primarily consists of the Chicago Mercantile Exchange Inc (CME), Board of Trade of the City of Chicago, Inc (CBOT), New York Mercantile Exchange, Inc (NYMEX) and Commodity Exchange, Inc (COMEX) exchanges.

Analyst Recommendations for CME Group (NASDAQ:CME)

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