CME Group Inc. (NASDAQ:CME) Expected to Post Quarterly Sales of $898.65 Million
Equities analysts predict that CME Group Inc. (NASDAQ:CME) will post sales of $898.65 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for CME Group’s earnings, with the highest sales estimate coming in at $911.98 million and the lowest estimate coming in at $887.00 million. CME Group reported sales of $841.70 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.8%. The company is expected to report its next earnings results on Thursday, October 26th.
According to Zacks, analysts expect that CME Group will report full-year sales of $898.65 million for the current year, with estimates ranging from $3.66 billion to $3.72 billion. For the next fiscal year, analysts forecast that the company will post sales of $3.93 billion per share, with estimates ranging from $3.85 billion to $3.98 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow CME Group.
CME Group (NASDAQ:CME) last announced its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.03. CME Group had a return on equity of 7.61% and a net margin of 46.05%. The firm had revenue of $925 million during the quarter, compared to analysts’ expectations of $931.05 million. During the same period last year, the business posted $1.14 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year.
CME has been the subject of a number of research analyst reports. Deutsche Bank AG decreased their target price on CME Group from $137.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, April 28th. Jefferies Group LLC reissued a “buy” rating and issued a $134.00 target price (up from $128.00) on shares of CME Group in a research report on Monday, July 17th. Royal Bank Of Canada decreased their target price on CME Group from $133.00 to $130.00 and set an “outperform” rating for the company in a research report on Monday, May 1st. Finally, BidaskClub raised CME Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. CME Group currently has an average rating of “Hold” and an average target price of $131.63.
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CME Group (NASDAQ CME) opened at 124.97 on Tuesday. The stock has a 50 day moving average price of $123.71 and a 200 day moving average price of $120.57. CME Group has a 52 week low of $98.95 and a 52 week high of $127.96. The stock has a market capitalization of $42.31 billion, a PE ratio of 25.51 and a beta of 0.73.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, September 7th. CME Group’s dividend payout ratio is presently 53.99%.
In other CME Group news, insider Sunil Cutinho sold 10,265 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $117.85, for a total transaction of $1,209,730.25. Following the completion of the sale, the insider now directly owns 21,690 shares of the company’s stock, valued at approximately $2,556,166.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Terrence A. Duffy sold 21,815 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $123.89, for a total value of $2,702,660.35. Following the sale, the chairman now directly owns 110,711 shares of the company’s stock, valued at $13,715,985.79. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,770 shares of company stock valued at $8,569,114. 0.61% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the company. National Pension Service increased its position in shares of CME Group by 6.3% in the first quarter. National Pension Service now owns 254,243 shares of the financial services provider’s stock worth $30,217,000 after buying an additional 15,099 shares during the period. Highland Capital Management LLC acquired a new position in shares of CME Group during the first quarter worth about $273,000. Bank of Montreal Can increased its position in shares of CME Group by 7.0% in the first quarter. Bank of Montreal Can now owns 352,984 shares of the financial services provider’s stock worth $41,934,000 after buying an additional 23,242 shares during the period. CrestPoint Capital Management LLC acquired a new position in shares of CME Group during the first quarter worth about $202,000. Finally, TNB Financial acquired a new position in shares of CME Group during the first quarter worth about $1,194,000. 83.29% of the stock is owned by institutional investors and hedge funds.
About CME Group
CME Group Inc, through its exchanges, provides products across all asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The Company’s segment primarily consists of the Chicago Mercantile Exchange Inc (CME), Board of Trade of the City of Chicago, Inc (CBOT), New York Mercantile Exchange, Inc (NYMEX) and Commodity Exchange, Inc (COMEX) exchanges.
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