Cboe Global Markets (BATS:CBOE) Stock Rating Lowered by The Goldman Sachs Group

Cboe Global Markets (BATS:CBOE – Get Free Report) was downgraded by research analysts at The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday, Zacks reports.

Other analysts have also issued research reports about the stock. Wells Fargo & Company boosted their price target on shares of Cboe Global Markets from $309.00 to $357.00 and gave the company an “equal weight” rating in a research note on Monday. Barclays raised their price objective on shares of Cboe Global Markets from $343.00 to $392.00 and gave the company an “overweight” rating in a research note on Monday. Morgan Stanley reiterated an “overweight” rating and set a $450.00 price objective on shares of Cboe Global Markets in a report on Friday, October 23rd. JPMorgan Chase & Co. boosted their target price on shares of Cboe Global Markets from $288.00 to $332.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 28th. Finally, Royal Bank Of Canada upped their target price on shares of Cboe Global Markets from $303.00 to $360.00 and gave the stock a “sector perform” rating in a report on Friday, October 30th. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Cboe Global Markets currently has a consensus rating of “Hold” and a consensus target price of $363.00.

Get Our Latest Stock Analysis on CBOE

Cboe Global Markets Trading Up 0.3%

Shares of Cboe Global Markets stock opened at $345.21 on Wednesday. The stock has a market capitalization of $36.61 billion, a PE ratio of 177.94 and a beta of 0.61. Cboe Global Markets has a 52 week low of $227.15 and a 52 week high of $371.18. The stock has a 50 day moving average price of $297.03 and a two-hundred day moving average price of $293.02. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.21 and a current ratio of 1.21.

Cboe Global Markets (BATS:CBOE – Get Free Report) last issued its earnings results on Friday, October 30th. The company reported $3.63 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.20. Cboe Global Markets had a return on equity of 20.05% and a net margin of 5.77%. The company had revenue of $712.20 million for the quarter, compared to analyst estimates of $705.22 million. During the same period in the prior year, the firm earned $2.67 earnings per share. Cboe Global Markets’s revenue for the quarter was up 17.6% on a year-over-year basis. As a group, equities analysts anticipate that Cboe Global Markets will post 6.41 earnings per share for the current fiscal year.

Cboe Global Markets announced that its board has approved a share repurchase plan on Thursday, October 22nd that authorizes the company to repurchase $550 million in shares. This repurchase authorization authorizes the company to repurchase up to 1.6% of its stock through open market purchases. Share repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Cboe Global Markets news, Director Janet Froetscher sold 937 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $278.95, for a total transaction of $261,376.15. Following the transaction, the director directly owned 12,870 shares in the company, valued at approximately $3,590,086.50. This trade represents a 6.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.51% of the company’s stock.

Institutional Trading of Cboe Global Markets

Several institutional investors have recently made changes to their positions in CBOE. BlackRock Inc. bought a new position in shares of Cboe Global Markets during the second quarter valued at about $2,474,799,000. Deutsche Bank AG bought a new stake in Cboe Global Markets in the 2nd quarter worth about $491,465,000. Jupiter Topco LLC bought a new stake in Cboe Global Markets in the 2nd quarter worth about $304,917,000. Legal & General Group Plc purchased a new stake in Cboe Global Markets in the 2nd quarter valued at about $175,870,000. Finally, Bank of America Corp DE purchased a new stake in Cboe Global Markets in the 2nd quarter valued at about $162,794,000. Institutional investors own 81.73% of the company’s stock.

Key Stories Impacting Cboe Global Markets

Here are the key news stories impacting Cboe Global Markets this week:

About Cboe Global Markets

(Get Free Report)

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. and Canadian equities. This segment also offers exchange-traded products (ETP) transaction and listing services. The Europe and Asia Pacific segment provides pan-European listed equities and derivatives transaction services, ETPs, exchange-traded commodities, and international depository receipts, as well as ETP listings and clearing services.

See Also

Analyst Recommendations for Cboe Global Markets (BATS:CBOE)

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