Oppenheimer Analysts Reduce Earnings Estimates for CME Group Inc. (NASDAQ:CME)

CME Group Inc. (NASDAQ:CME) – Equities research analysts at Oppenheimer cut their Q4 2022 earnings per share (EPS) estimates for CME Group in a note issued to investors on Thursday, January 13th. Oppenheimer analyst O. Lau now anticipates that the financial services provider will earn $1.76 per share for the quarter, down from their previous estimate of $1.83.

CME Group (NASDAQ:CME) last issued its earnings results on Wednesday, October 27th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.55 by $0.05. CME Group had a net margin of 52.47% and a return on equity of 8.60%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the firm earned $1.38 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis.

Other analysts have also issued reports about the stock. Raymond James upped their price objective on shares of CME Group from $230.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 5th. Rosenblatt Securities upped their price objective on shares of CME Group from $194.00 to $197.00 and gave the stock a “sell” rating in a research note on Thursday, October 28th. Morgan Stanley increased their price target on shares of CME Group from $217.00 to $234.00 and gave the company an “equal weight” rating in a research report on Thursday, October 28th. Bank of America initiated coverage on shares of CME Group in a research report on Thursday, December 16th. They set an “underperform” rating and a $254.00 price target for the company. Finally, Piper Sandler reissued a “buy” rating and set a $230.00 price target on shares of CME Group in a research report on Friday, October 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $228.82.

NASDAQ:CME opened at $223.19 on Friday. CME Group has a 1-year low of $177.73 and a 1-year high of $232.64. The company has a 50-day moving average of $225.94 and a 200 day moving average of $212.43. The firm has a market cap of $80.21 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 6.24 and a beta of 0.46. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.01.

Several hedge funds and other institutional investors have recently modified their holdings of CME. Amundi acquired a new stake in shares of CME Group during the 2nd quarter worth approximately $449,740,000. Vontobel Asset Management Inc. lifted its position in shares of CME Group by 41.7% during the 2nd quarter. Vontobel Asset Management Inc. now owns 4,008,425 shares of the financial services provider’s stock valued at $881,195,000 after buying an additional 1,178,784 shares in the last quarter. Parnassus Investments LLC lifted its position in shares of CME Group by 15.5% during the 3rd quarter. Parnassus Investments LLC now owns 7,097,398 shares of the financial services provider’s stock valued at $1,372,495,000 after buying an additional 951,681 shares in the last quarter. BlackRock Inc. lifted its position in shares of CME Group by 3.6% during the 3rd quarter. BlackRock Inc. now owns 25,552,312 shares of the financial services provider’s stock valued at $4,941,308,000 after buying an additional 880,410 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its position in shares of CME Group by 7,897.4% during the 2nd quarter. Macquarie Group Ltd. now owns 802,217 shares of the financial services provider’s stock valued at $170,616,000 after buying an additional 792,186 shares in the last quarter. 84.92% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Terrence A. Duffy acquired 1,600 shares of the company’s stock in a transaction dated Thursday, November 4th. The shares were acquired at an average price of $220.21 per share, with a total value of $352,336.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Hilda Harris Piell sold 2,947 shares of the firm’s stock in a transaction that occurred on Tuesday, October 19th. The stock was sold at an average price of $215.00, for a total transaction of $633,605.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,492 shares of company stock worth $5,434,355. 0.30% of the stock is owned by corporate insiders.

The firm also recently declared a None dividend, which was paid on Friday, January 14th. Investors of record on Tuesday, December 28th were issued a $3.25 dividend. The ex-dividend date was Monday, December 27th. This is an increase from CME Group’s previous None dividend of $2.50. CME Group’s dividend payout ratio is 53.10%.

CME Group Company Profile

CME Group, Inc operates a derivatives marketplace, which offers a range of futures and options products for risk management. Its exchanges offer a range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange (FX), energy, agricultural commodities and metals.

Further Reading: Shanghai Stock Exchange Composite Index

Earnings History and Estimates for CME Group (NASDAQ:CME)

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