CME Group (NASDAQ:CME) Price Target Cut to $275.00

CME Group (NASDAQ:CME – Get Rating) had its price target cut by equities researchers at Citigroup from $280.00 to $275.00 in a research note issued to investors on Wednesday, April 13th, The Fly reports. Citigroup’s price objective suggests a potential upside of 24.63% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Morgan Stanley boosted their price target on shares of CME Group from $234.00 to $255.00 and gave the company an “equal weight” rating in a research report on Friday, February 11th. Compass Point boosted their price target on shares of CME Group from $235.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, February 10th. JPMorgan Chase & Co. cut their target price on shares of CME Group from $202.00 to $201.00 and set a “neutral” rating for the company in a research report on Thursday, February 10th. StockNews.com started coverage on shares of CME Group in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Rosenblatt Securities upped their price target on shares of CME Group from $260.00 to $268.00 and gave the company a “neutral” rating in a research report on Tuesday, March 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $254.75.

CME stock traded up $1.50 during midday trading on Wednesday, reaching $220.66. 1,622,853 shares of the company’s stock traded hands, compared to its average volume of 1,722,335. The company has a 50-day moving average price of $235.90 and a two-hundred day moving average price of $230.23. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.01 and a current ratio of 1.02. CME Group has a 52 week low of $185.79 and a 52 week high of $256.94. The firm has a market capitalization of $79.30 billion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 4.52 and a beta of 0.47.

CME Group (NASDAQ:CME – Get Rating) last issued its earnings results on Wednesday, April 27th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.11. CME Group had a net margin of 57.98% and a return on equity of 9.29%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the firm posted $1.79 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, analysts predict that CME Group will post 7.9 EPS for the current fiscal year.

In other news, insider Sean Tully sold 3,000 shares of the stock in a transaction that occurred on Friday, March 11th. The shares were sold at an average price of $229.00, for a total transaction of $687,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kevin Kometer sold 13,500 shares of the stock in a transaction that occurred on Thursday, February 10th. The shares were sold at an average price of $244.04, for a total transaction of $3,294,540.00. The disclosure for this sale can be found here. Insiders have sold 32,650 shares of company stock valued at $7,814,564 in the last ninety days. Insiders own 0.30% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in CME Group in the fourth quarter worth approximately $750,203,000. Capital International Investors raised its position in CME Group by 26.9% in the fourth quarter. Capital International Investors now owns 13,188,121 shares of the financial services provider’s stock worth $3,013,006,000 after acquiring an additional 2,795,636 shares during the period. Massachusetts Financial Services Co. MA raised its position in CME Group by 88,050.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,458,001 shares of the financial services provider’s stock worth $333,094,000 after acquiring an additional 1,456,347 shares during the period. Parnassus Investments LLC raised its position in CME Group by 15.5% in the third quarter. Parnassus Investments LLC now owns 7,097,398 shares of the financial services provider’s stock worth $1,372,495,000 after acquiring an additional 951,681 shares during the period. Finally, BlackRock Inc. raised its position in CME Group by 3.6% in the third quarter. BlackRock Inc. now owns 25,552,312 shares of the financial services provider’s stock worth $4,941,308,000 after acquiring an additional 880,410 shares during the period. Institutional investors own 86.71% of the company’s stock.

CME Group Company Profile (Get Rating)

CME Group Inc, together with its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers futures and options products based on interest rates, equity indexes, foreign exchange, agricultural commodities, energy, and metals, as well as fixed income products.

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