Cboe Global Markets (BATS:CBOE) Sets New 12-Month High – What’s Next?

Cboe Global Markets, Inc. (BATS:CBOE) shares hit a new 52-week high during trading on Monday . The stock traded as high as $203.34 and last traded at $202.14, with a volume of 854690 shares traded. The stock had previously closed at $203.99.

Wall Street Analyst Weigh In

CBOE has been the topic of several research reports. Oppenheimer upped their price objective on shares of Cboe Global Markets from $209.00 to $227.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Royal Bank of Canada restated a “sector perform” rating and issued a $220.00 target price on shares of Cboe Global Markets in a research note on Monday, November 4th. Morgan Stanley cut Cboe Global Markets from an “equal weight” rating to an “underweight” rating and set a $199.00 price target for the company. in a research note on Wednesday, November 6th. Piper Sandler boosted their target price on shares of Cboe Global Markets from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, TD Cowen started coverage on shares of Cboe Global Markets in a research note on Thursday, September 26th. They issued a “hold” rating and a $205.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $209.42.

Cboe Global Markets Price Performance

The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $21.54 billion, a price-to-earnings ratio of 104.79 and a beta of 0.61. The company has a 50 day moving average price of $208.69 and a 200 day moving average price of $196.53.

Cboe Global Markets (BATS:CBOE) last posted its quarterly earnings results on Friday, November 1st. The company reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.19 by $0.03. The company had revenue of $532.00 million for the quarter, compared to the consensus estimate of $530.46 million. Cboe Global Markets had a return on equity of 20.05% and a net margin of 5.77%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.06 EPS. As a group, equities research analysts forecast that Cboe Global Markets, Inc. will post 6.41 earnings per share for the current year.

Cboe Global Markets Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, November 29th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.24%. Cboe Global Markets’s dividend payout ratio is 98.97%.

Cboe Global Markets announced that its Board of Directors has approved a stock repurchase program on Friday, August 16th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Northwest & Ethical Investments L.P. lifted its holdings in shares of Cboe Global Markets by 13.6% in the third quarter. Northwest & Ethical Investments L.P. now owns 43,508 shares of the company’s stock valued at $8,913,000 after purchasing an additional 5,200 shares in the last quarter. Financial Counselors Inc. bought a new stake in Cboe Global Markets during the third quarter worth about $328,000. Public Sector Pension Investment Board increased its holdings in Cboe Global Markets by 2.2% during the third quarter. Public Sector Pension Investment Board now owns 18,197 shares of the company’s stock worth $3,728,000 after buying an additional 400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Cboe Global Markets by 3.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,993 shares of the company’s stock valued at $11,018,000 after purchasing an additional 1,753 shares during the period. Finally, CreativeOne Wealth LLC boosted its stake in shares of Cboe Global Markets by 106.5% during the 3rd quarter. CreativeOne Wealth LLC now owns 4,658 shares of the company’s stock worth $954,000 after acquiring an additional 2,402 shares during the period. Institutional investors and hedge funds own 81.73% of the company’s stock.

About Cboe Global Markets

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.