Cboe Global Markets (BATS:CBOE) Reaches New 52-Week High – Still a Buy?

Cboe Global Markets, Inc. (BATS:CBOE)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $217.26 and last traded at $212.02, with a volume of 731143 shares changing hands. The stock had previously closed at $215.85.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CBOE. TD Cowen started coverage on 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. Oppenheimer boosted their price target on shares of Cboe Global Markets from $209.00 to $227.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Keefe, Bruyette & Woods increased their price objective on shares of Cboe Global Markets from $197.00 to $198.00 and gave the company a “market perform” rating in a report on Monday, August 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $220.00 price target on shares of Cboe Global Markets in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft upgraded Cboe Global Markets from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $212.00 to $222.00 in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $209.42.

Cboe Global Markets Price Performance

The company has a market capitalization of $22.49 billion, a PE ratio of 111.26 and a beta of 0.61. 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 stock’s 50 day simple moving average is $208.42 and its 200-day simple moving average is $195.30.

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

Cboe Global Markets Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Friday, November 29th. Cboe Global Markets’s dividend payout ratio (DPR) is 98.97%.

Cboe Global Markets declared that its Board of Directors has initiated a stock repurchase plan on Friday, August 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at Cboe Global Markets

In other news, CFO Jill Griebenow sold 1,622 shares of Cboe Global Markets stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $213.33, for a total value of $346,021.26. Following the transaction, the chief financial officer now directly owns 8,844 shares of the company’s stock, valued at $1,886,690.52. The trade was a 15.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Christopher A. Isaacson sold 6,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.89, for a total transaction of $1,229,340.00. Following the completion of the sale, the chief operating officer now directly owns 39,855 shares of the company’s stock, valued at $8,165,890.95. The trade was a 13.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.

Institutional Investors Weigh In On Cboe Global Markets

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Comerica Bank boosted its position in shares of Cboe Global Markets by 42.6% in the first quarter. Comerica Bank now owns 30,009 shares of the company’s stock worth $5,514,000 after acquiring an additional 8,970 shares during the last quarter. Swedbank AB purchased a new stake in shares of Cboe Global Markets in the first quarter worth about $844,000. Cetera Investment Advisers grew its stake in shares of Cboe Global Markets by 347.9% in the first quarter. Cetera Investment Advisers now owns 41,087 shares of the company’s stock valued at $7,549,000 after buying an additional 31,914 shares in the last quarter. Cetera Advisors LLC raised its holdings in shares of Cboe Global Markets by 208.1% during the 1st quarter. Cetera Advisors LLC now owns 4,754 shares of the company’s stock valued at $873,000 after buying an additional 3,211 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its position in Cboe Global Markets by 34.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 469 shares of the company’s stock worth $80,000 after acquiring an additional 121 shares in the last quarter. Institutional investors and hedge funds 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.