CME Group (NASDAQ:CME) Upgraded to Overweight by Atlantic Securities

CME Group (NASDAQ:CMEGet Rating) was upgraded by analysts at Atlantic Securities from a “neutral” rating to an “overweight” rating in a research note issued on Friday, Briefing.com reports. The firm currently has a $235.00 price objective on the financial services provider’s stock. Atlantic Securities’ target price would indicate a potential upside of 18.73% from the company’s previous close.

Several other research analysts also recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on CME Group from $202.00 to $201.00 and set a “neutral” rating for the company in a research note on Thursday, February 10th. StockNews.com started coverage on CME Group in a report on Thursday, March 31st. They set a “hold” rating on the stock. Bank of America upped their price objective on CME Group from $244.00 to $252.00 and gave the stock an “underperform” rating in a report on Thursday, February 10th. Argus raised CME Group from a “hold” rating to a “buy” rating in a report on Monday, May 16th. Finally, UBS Group decreased their price objective on CME Group from $284.00 to $258.00 and set a “buy” rating on the stock in a report on Friday, June 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, CME Group has a consensus rating of “Hold” and a consensus target price of $246.73.

CME stock opened at $197.93 on Friday. CME Group has a 1-year low of $185.79 and a 1-year high of $256.94. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $71.14 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 4.11 and a beta of 0.48. The business has a 50 day simple moving average of $214.28 and a two-hundred day simple moving average of $226.17.

CME Group (NASDAQ:CMEGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The financial services provider reported $2.11 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.11. CME Group had a return on equity of 9.29% and a net margin of 57.98%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the company posted $1.79 EPS. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. Sell-side analysts anticipate that CME Group will post 7.91 EPS for the current fiscal year.

In other CME Group news, insider Sean Tully sold 4,000 shares of the stock in a transaction on Monday, March 14th. The stock was sold at an average price of $229.80, for a total value of $919,200.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.30% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in CME. Norges Bank purchased a new stake in CME Group in the fourth quarter worth $750,203,000. Capital International Investors grew its position in shares of CME Group by 26.9% during the 4th quarter. Capital International Investors now owns 13,188,121 shares of the financial services provider’s stock worth $3,013,006,000 after buying an additional 2,795,636 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of CME Group by 132.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,382,773 shares of the financial services provider’s stock worth $804,626,000 after buying an additional 1,924,772 shares in the last quarter. Parnassus Investments LLC grew 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 worth $1,372,495,000 after buying an additional 951,681 shares in the last quarter. Finally, TD Asset Management Inc. grew its position in shares of CME Group by 224.1% during the 1st quarter. TD Asset Management Inc. now owns 992,012 shares of the financial services provider’s stock worth $235,960,000 after buying an additional 685,884 shares in the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

About CME Group (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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