Jefferies Group Reaffirms “Buy” Rating for CME Group Inc. (CME)
Jefferies Group reiterated their buy rating on shares of CME Group Inc. (NASDAQ:CME) in a research note released on Thursday morning. Jefferies Group currently has a $118.00 price objective on the stock.
Other equities analysts have also issued reports about the company. Deutsche Bank AG upped their target price on CME Group from $115.00 to $116.00 and gave the company a buy rating in a report on Wednesday, October 5th. JPMorgan Chase & Co. set a $116.00 target price on CME Group and gave the company a buy rating in a report on Monday, September 12th. Zacks Investment Research raised CME Group from a sell rating to a hold rating in a report on Thursday, June 30th. Barclays PLC lowered their target price on CME Group from $100.00 to $99.00 and set an equal weight rating for the company in a report on Friday, July 29th. Finally, Keefe, Bruyette & Woods upped their target price on CME Group from $99.00 to $103.00 and gave the company a market perform rating in a report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $103.27.
Shares of CME Group (NASDAQ:CME) opened at 103.73 on Thursday. The firm has a market capitalization of $35.15 billion, a PE ratio of 26.19 and a beta of 0.83. CME Group has a 12-month low of $81.87 and a 12-month high of $110.35. The stock has a 50 day moving average price of $106.42 and a 200 day moving average price of $99.82.
CME Group (NASDAQ:CME) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.03. The firm earned $906 million during the quarter, compared to analyst estimates of $897.84 million. CME Group had a return on equity of 6.83% and a net margin of 38.22%. CME Group’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 earnings per share. Analysts predict that CME Group will post $4.43 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 26th. Stockholders of record on Friday, September 9th were given a dividend of $0.60 per share. The ex-dividend date was Wednesday, September 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.31%. CME Group’s dividend payout ratio (DPR) is presently 60.61%.
In other CME Group news, insider Bryan T. Durkin sold 14,990 shares of the business’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $105.10, for a total transaction of $1,575,449.00. Following the sale, the insider now directly owns 66,936 shares of the company’s stock, valued at approximately $7,034,973.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Martin J. Gepsman sold 300 shares of the business’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $109.00, for a total transaction of $32,700.00. Following the sale, the director now directly owns 42,802 shares in the company, valued at $4,665,418. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Spirit of America Management Corp NY increased its stake in shares of CME Group by 172.7% in the third quarter. Spirit of America Management Corp NY now owns 3,000 shares of the company’s stock valued at $314,000 after buying an additional 1,900 shares during the period. Windward Capital Management Co. CA increased its stake in shares of CME Group by 59.4% in the third quarter. Windward Capital Management Co. CA now owns 4,186 shares of the company’s stock valued at $438,000 after buying an additional 1,560 shares during the period. National Pension Service increased its stake in shares of CME Group by 8.8% in the third quarter. National Pension Service now owns 224,568 shares of the company’s stock valued at $23,472,000 after buying an additional 18,140 shares during the period. Cohen Capital Management Inc. increased its stake in shares of CME Group by 0.7% in the third quarter. Cohen Capital Management Inc. now owns 34,040 shares of the company’s stock valued at $3,558,000 after buying an additional 250 shares during the period. Finally, First PREMIER Bank increased its stake in shares of CME Group by 17.2% in the third quarter. First PREMIER Bank now owns 4,865 shares of the company’s stock valued at $508,000 after buying an additional 714 shares during the period. 79.89% of the stock is currently owned by institutional investors.
CME Group Company Profile
CME Group Inc is a provider of products across all major asset classes, based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals. The Company’s products include both exchange-traded and privately negotiated futures and options contracts and swaps. The Company connects buyers and sellers together through its CME Globex electronic trading platform across the globe and its open outcry trading facilities in Chicago and New York City.
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