Zacks: Brokerages Expect CBOE Holdings, Inc. (NASDAQ:CBOE) Will Post Quarterly Sales of $267.48 Million
Equities research analysts expect CBOE Holdings, Inc. (NASDAQ:CBOE) to announce sales of $267.48 million for the current quarter, Zacks reports. Four analysts have provided estimates for CBOE Holdings’ earnings, with the lowest sales estimate coming in at $265.10 million and the highest estimate coming in at $269.00 million. CBOE Holdings reported sales of $163.33 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 63.8%. The firm is scheduled to announce its next earnings results before the market opens on Friday, August 4th.
According to Zacks, analysts expect that CBOE Holdings will report full year sales of $267.48 million for the current fiscal year, with estimates ranging from $982.00 million to $994.67 million. For the next financial year, analysts anticipate that the business will report sales of $1.12 billion per share, with estimates ranging from $1.11 billion to $1.13 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for CBOE Holdings.
CBOE Holdings (NASDAQ:CBOE) last released its earnings results on Tuesday, May 9th. The financial services provider reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.10. The company had revenue of $193.40 million during the quarter, compared to the consensus estimate of $208.30 million. CBOE Holdings had a net margin of 18.03% and a return on equity of 24.30%. The company’s revenue was up 35.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS.
CBOE has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of CBOE Holdings from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research note on Tuesday, April 11th. Jefferies Group LLC reiterated a “hold” rating and set a $85.00 target price on shares of CBOE Holdings in a research note on Monday, April 10th. Deutsche Bank AG upped their target price on shares of CBOE Holdings from $76.00 to $79.00 and gave the company a “hold” rating in a research note on Thursday, April 6th. BidaskClub upgraded shares of CBOE Holdings from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. Finally, Royal Bank Of Canada set a $90.00 target price on shares of CBOE Holdings and gave the company an “outperform” rating in a research note on Friday, May 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $76.38.
In other news, Director Christopher Mitchell sold 225,000 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $89.17, for a total value of $20,063,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Edward T. Tilly sold 5,000 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $86.85, for a total transaction of $434,250.00. Following the completion of the transaction, the chairman now owns 80,611 shares of the company’s stock, valued at approximately $7,001,065.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 237,316 shares of company stock valued at $21,150,160. Corporate insiders own 0.96% of the company’s stock.
Several large investors have recently made changes to their positions in the company. TrimTabs Asset Management LLC boosted its stake in shares of CBOE Holdings by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 1,580 shares of the financial services provider’s stock worth $128,000 after buying an additional 744 shares during the period. Huntington National Bank purchased a new stake in shares of CBOE Holdings during the second quarter worth about $182,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of CBOE Holdings during the second quarter worth about $183,000. Royce & Associates LP purchased a new stake in shares of CBOE Holdings during the first quarter worth about $180,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of CBOE Holdings during the first quarter worth about $201,000. Institutional investors and hedge funds own 78.50% of the company’s stock.
CBOE Holdings (NASDAQ:CBOE) traded up 0.85% during midday trading on Friday, hitting $93.94. 792,695 shares of the stock traded hands. The stock has a market cap of $10.53 billion, a PE ratio of 52.42 and a beta of 0.49. CBOE Holdings has a 1-year low of $61.58 and a 1-year high of $94.37. The company has a 50-day moving average of $90.38 and a 200-day moving average of $82.82.
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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