CBOE Holdings Inc. (CBOE) Upgraded by Wells Fargo & Co. to Outperform
CBOE Holdings Inc. (NASDAQ:CBOE) was upgraded by equities research analysts at Wells Fargo & Co. from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $80.50 price objective on the stock, up from their prior price objective of $67.50. Wells Fargo & Co.’s target price suggests a potential upside of 18.64% from the company’s previous close.
CBOE has been the topic of several other research reports. Buckingham Research upgraded shares of CBOE Holdings from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $77.00 in a research note on Tuesday, September 27th. Barclays PLC reiterated an “underweight” rating and set a $52.00 price target (down previously from $54.00) on shares of CBOE Holdings in a research note on Friday, September 2nd. Deutsche Bank AG lifted their price target on shares of CBOE Holdings from $67.00 to $68.00 and gave the stock a “hold” rating in a research note on Friday, September 9th. Keefe, Bruyette & Woods lifted their price target on shares of CBOE Holdings from $65.00 to $71.50 and gave the stock a “market perform” rating in a research note on Tuesday, September 27th. Finally, Jefferies Group reiterated a “hold” rating and set a $62.00 price target on shares of CBOE Holdings in a research note on Tuesday, September 27th. Five investment 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. The stock has an average rating of “Hold” and an average target price of $66.60.
CBOE Holdings (NASDAQ:CBOE) traded up 0.43% on Tuesday, reaching $67.85. The company had a trading volume of 741,323 shares. CBOE Holdings has a 12-month low of $58.43 and a 12-month high of $72.53. The stock has a market capitalization of $5.52 billion, a PE ratio of 25.66 and a beta of 0.55. The stock’s 50 day moving average price is $68.16 and its 200-day moving average price is $66.12.
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CBOE Holdings (NASDAQ:CBOE) last posted its earnings results on Friday, July 29th. The company reported $0.60 EPS for the quarter, hitting analysts’ consensus estimates of $0.60. CBOE Holdings had a net margin of 32.55% and a return on equity of 81.50%. The business earned $163.30 million during the quarter, compared to the consensus estimate of $159.22 million. During the same quarter in the previous year, the firm posted $0.54 EPS. The firm’s revenue was up 9.8% on a year-over-year basis. Equities analysts expect that CBOE Holdings will post $2.40 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were issued a $0.23 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.36%. CBOE Holdings’s dividend payout ratio (DPR) is presently 37.88%.
In other news, CEO Edward T. Tilly sold 6,250 shares of the business’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $67.86, for a total value of $424,125.00. Following the sale, the chief executive officer now directly owns 73,611 shares in the company, valued at approximately $4,995,242.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.96% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC increased its position in shares of CBOE Holdings by 76.5% in the first quarter. Lazard Asset Management LLC now owns 1,859,260 shares of the company’s stock valued at $121,464,000 after buying an additional 806,144 shares during the last quarter. Norges Bank purchased a new position in shares of CBOE Holdings during the fourth quarter valued at approximately $45,780,000. Emerald Acquisition Ltd. purchased a new position in shares of CBOE Holdings during the second quarter valued at approximately $28,426,000. UBS Asset Management Americas Inc. increased its position in shares of CBOE Holdings by 537.5% in the second quarter. UBS Asset Management Americas Inc. now owns 365,071 shares of the company’s stock valued at $24,321,000 after buying an additional 307,808 shares during the last quarter. Finally, FIL Ltd purchased a new position in shares of CBOE Holdings during the second quarter valued at approximately $18,750,000. Institutional investors own 74.20% of the company’s stock.
CBOE Holdings Company Profile
CBOE Holdings, Inc is a holding company. The Company’s principal business is operating markets that offer for trading options on various market indexes (index options), on an exclusive basis and futures contracts, as well as on non-exclusive multiply listed options, such as options on the stocks of individual corporations (equity options), and options on other exchange-traded products (ETP options), such as exchange-traded funds (ETF options) and exchange-traded notes (ETN options).
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