Cboe Global Markets (NASDAQ:CBOE) Reaches New 1-Year High After Earnings Beat

Cboe Global Markets, Inc. (NASDAQ:CBOE)’s share price reached a new 52-week high during trading on Friday following a stronger than expected earnings report. The stock traded as high as $249.63 and last traded at $247.80, with a volume of 313779 shares traded. The stock had previously closed at $241.04.

The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.03. Cboe Global Markets had a return on equity of 22.02% and a net margin of 18.64%. Cboe Global Markets’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.15 EPS.

Cboe Global Markets Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a $0.63 dividend. The ex-dividend date was Friday, May 30th. This represents a $2.52 annualized dividend and a yield of 1.0%. Cboe Global Markets’s dividend payout ratio is presently 33.03%.

Analyst Ratings Changes

CBOE has been the topic of several research analyst reports. Cowen restated a “hold” rating on shares of Cboe Global Markets in a research report on Monday, May 5th. Piper Sandler raised their price objective on shares of Cboe Global Markets from $245.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Citigroup upped their target price on shares of Cboe Global Markets from $230.00 to $245.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Barclays dropped their target price on shares of Cboe Global Markets from $245.00 to $243.00 and set an “equal weight” rating for the company in a report on Thursday, July 10th. Finally, Oppenheimer boosted their price target on Cboe Global Markets from $249.00 to $253.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $222.58.

Insider Activity

In related news, EVP Catherine R. Clay sold 3,598 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $226.58, for a total value of $815,234.84. Following the sale, the executive vice president owned 2,183 shares of the company’s stock, valued at approximately $494,624.14. This represents a 62.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.22% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cboe Global Markets

A number of institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC boosted its stake in shares of Cboe Global Markets by 10.1% during the fourth quarter. Brighton Jones LLC now owns 1,092 shares of the company’s stock valued at $213,000 after acquiring an additional 100 shares during the last quarter. Schroder Investment Management Group lifted its holdings in Cboe Global Markets by 244.7% in the 4th quarter. Schroder Investment Management Group now owns 5,374 shares of the company’s stock valued at $1,053,000 after purchasing an additional 3,815 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Cboe Global Markets by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 2,740,937 shares of the company’s stock worth $535,994,000 after purchasing an additional 44,291 shares during the last quarter. Nicolet Advisory Services LLC grew its holdings in shares of Cboe Global Markets by 12.3% during the fourth quarter. Nicolet Advisory Services LLC now owns 1,280 shares of the company’s stock worth $244,000 after buying an additional 140 shares in the last quarter. Finally, Motley Fool Asset Management LLC raised its position in shares of Cboe Global Markets by 11.0% in the fourth quarter. Motley Fool Asset Management LLC now owns 2,198 shares of the company’s stock valued at $429,000 after buying an additional 217 shares during the last quarter. 82.67% of the stock is owned by institutional investors and hedge funds.

Cboe Global Markets Trading Up 2.8%

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.78 and a quick ratio of 1.39. The firm has a market cap of $25.95 billion, a price-to-earnings ratio of 34.32, a price-to-earnings-growth ratio of 1.75 and a beta of 0.43. The business’s 50-day moving average price is $231.96 and its two-hundred day moving average price is $219.93.

About Cboe Global Markets

Cboe Global Markets, Inc is one of the largest stock exchange operators by volume in the United States and a leading market globally for ETP trading. Cboe offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S. and European equities, exchange-traded products (ETPs), global foreign exchange (FX) and multi-asset volatility products based on the VIX Index.