CBOE Holdings’ (CBOE) Equal Weight Rating Reaffirmed at Morgan Stanley
CBOE Holdings Inc. (NASDAQ:CBOE)‘s stock had its “equal weight” rating reissued by stock analysts at Morgan Stanley in a report released on Wednesday. They currently have a $32.50 price target on the stock, up from their previous price target of $26.00. Morgan Stanley’s target price suggests a potential downside of 51.35% from the stock’s previous close.
A number of other analysts have also recently commented on the stock. Deutsche Bank AG restated a “hold” rating on shares of CBOE Holdings in a research note on Sunday, June 26th. JPMorgan Chase & Co. restated a “hold” rating and set a $61.00 price target on shares of CBOE Holdings in a research note on Wednesday, August 3rd. Bank of America Corp. cut shares of CBOE Holdings from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $68.29 to $65.00 in a research note on Thursday, August 11th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of CBOE Holdings from a “sell” rating to a “hold” rating in a research note on Friday, September 16th. Finally, Barclays PLC set a $53.00 price target on shares of CBOE Holdings and gave the company a “sell” rating in a research note on Monday, August 1st. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. CBOE Holdings has an average rating of “Hold” and an average price target of $65.26.
Shares of CBOE Holdings (NASDAQ:CBOE) traded down 0.43% during mid-day trading on Wednesday, reaching $66.81. 692,651 shares of the company’s stock were exchanged. The firm has a market cap of $5.43 billion, a P/E ratio of 25.27 and a beta of 0.55. The company has a 50 day moving average price of $68.08 and a 200 day moving average price of $66.15. CBOE Holdings has a 52-week low of $58.43 and a 52-week high of $72.53.
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CBOE Holdings (NASDAQ:CBOE) last released its earnings results on Friday, July 29th. The company reported $0.60 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.60. The firm had revenue of $163.30 million for the quarter, compared to analysts’ expectations of $159.22 million. CBOE Holdings had a net margin of 32.55% and a return on equity of 81.50%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 earnings per share. Analysts forecast that CBOE Holdings will post $2.40 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, August 31st. This represents a $0.92 annualized dividend and a yield of 1.38%. CBOE Holdings’s payout ratio is currently 37.88%.
In other CBOE Holdings news, CEO Edward T. Tilly sold 6,250 shares of the stock in a transaction on Monday, September 12th. The shares were sold at an average price of $67.86, for a total transaction of $424,125.00. Following the completion of the sale, the chief executive officer now owns 73,611 shares of the company’s stock, valued at approximately $4,995,242.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.96% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Lazard Asset Management LLC boosted its stake 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. Emerald Acquisition Ltd. purchased a new stake in shares of CBOE Holdings during the second quarter valued at $28,426,000. UBS Asset Management Americas Inc. boosted its stake 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. FIL Ltd purchased a new stake in shares of CBOE Holdings during the second quarter valued at $18,750,000. Finally, UBS Group AG boosted its stake in shares of CBOE Holdings by 154.4% in the first quarter. UBS Group AG now owns 228,893 shares of the company’s stock valued at $14,954,000 after buying an additional 138,933 shares during the last quarter. 73.76% of the stock is owned by institutional investors and hedge funds.
About CBOE Holdings
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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