Cboe Global Markets (BATS:CBOE) Hits New 52-Week High – What’s Next?

Cboe Global Markets, Inc. (BATS:CBOE) shares hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $371.21 and last traded at $369.19, with a volume of 1,246,378 shares changing hands. The stock had previously closed at $364.81.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wells Fargo & Company increased their price objective 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, November 2nd. The Goldman Sachs Group downgraded shares of Cboe Global Markets from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 4th. Morgan Stanley reissued an “overweight” rating and issued a $450.00 price objective on shares of Cboe Global Markets in a research note on Friday, October 23rd. TD Cowen increased their price objective on Cboe Global Markets from $342.00 to $417.00 and gave the company a “buy” rating in a report on Monday, November 2nd. Finally, Barclays raised their target price on Cboe Global Markets from $343.00 to $392.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $363.00.

Cboe Global Markets Price Performance

The company has a debt-to-equity ratio of 0.60, a current ratio of 1.21 and a quick ratio of 1.21. The business’s fifty day moving average is $303.50 and its 200-day moving average is $295.62. The firm has a market cap of $39.98 billion, a PE ratio of 194.23 and a beta of 0.61.

Cboe Global Markets (BATS:CBOE) last issued its quarterly earnings data on Friday, October 30th. The company reported $3.63 earnings per share (EPS) 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 business had revenue of $712.20 million for the quarter, compared to analysts’ expectations of $705.22 million. During the same quarter in the prior year, the firm posted $2.67 EPS. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. On average, research analysts predict that Cboe Global Markets, Inc. will post 6.41 earnings per share for the current fiscal year.

Cboe Global Markets Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be issued a $0.86 dividend. The ex-dividend date is Monday, November 30th. This represents a $3.44 dividend on an annualized basis and a yield of 0.9%. Cboe Global Markets’s dividend payout ratio is 98.97%.

Cboe Global Markets announced that its Board of Directors has authorized a share buyback program on Thursday, October 22nd that allows the company to buy back $550 million in outstanding shares. This repurchase authorization allows the company to buy up to 1.6% of its shares through open market purchases. Stock repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. State Board of Administration of Florida Retirement System grew its position in Cboe Global Markets by 6.3% during the third quarter. State Board of Administration of Florida Retirement System now owns 97,044 shares of the company’s stock valued at $26,715,000 after buying an additional 5,733 shares during the period. AlphaGrep UK Ltd acquired a new stake in shares of Cboe Global Markets in the third quarter valued at about $268,000. Benjamin Edwards Inc. boosted its holdings in shares of Cboe Global Markets by 8.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 53,955 shares of the company’s stock worth $14,858,000 after purchasing an additional 4,167 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its holdings in Cboe Global Markets by 0.3% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 415,990 shares of the company’s stock valued at $114,518,000 after buying an additional 1,356 shares in the last quarter. Finally, Advisors Asset Management Inc. purchased a new position in Cboe Global Markets during the third quarter worth about $4,397,000. Hedge funds and other institutional investors 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. 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.