CME Group (CME) Upgraded to Buy by BidaskClub
BidaskClub upgraded shares of CME Group (NASDAQ:CME) from a hold rating to a buy rating in a research note published on Wednesday.
Other equities analysts have also issued reports about the company. Citigroup upped their target price on CME Group from $138.00 to $155.00 and gave the stock a buy rating in a research note on Thursday, October 19th. UBS restated a buy rating and issued a $135.00 target price (up from $134.00) on shares of CME Group in a research note on Wednesday, September 6th. Keefe, Bruyette & Woods restated a hold rating and issued a $127.00 target price on shares of CME Group in a research note on Friday, August 18th. Wells Fargo & Company upped their target price on CME Group from $130.00 to $145.00 and gave the stock a market perform rating in a research note on Wednesday, October 4th. Finally, Royal Bank Of Canada upped their target price on CME Group from $135.00 to $147.00 and gave the stock an outperform rating in a research note on Monday, October 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $141.75.
CME Group (CME) traded up $0.64 during trading hours on Wednesday, hitting $152.75. The company had a trading volume of 1,432,400 shares, compared to its average volume of 1,372,494. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05. CME Group has a 12 month low of $113.27 and a 12 month high of $155.29. The company has a market cap of $51,582.78, a price-to-earnings ratio of 31.82, a price-to-earnings-growth ratio of 3.12 and a beta of 0.73.
CME Group (NASDAQ:CME) last released its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.03. CME Group had a return on equity of 7.89% and a net margin of 40.94%. The company had revenue of $890.80 million for the quarter, compared to analyst estimates of $890.22 million. During the same period in the previous year, the company posted $1.05 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. sell-side analysts predict that CME Group will post 4.78 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Friday, December 8th will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Thursday, December 7th. CME Group’s payout ratio is currently 59.86%.
In related news, insider Sunil Cutinho sold 2,600 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $139.57, for a total transaction of $362,882.00. Following the completion of the sale, the insider now directly owns 22,301 shares in the company, valued at approximately $3,112,550.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Hilda Harris Piell sold 1,350 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $138.00, for a total value of $186,300.00. The disclosure for this sale can be found here. Insiders sold a total of 34,921 shares of company stock valued at $5,016,248 over the last quarter. Company insiders own 0.57% of the company’s stock.
A number of hedge funds have recently modified their holdings of CME. Vanguard Group Inc. raised its position in CME Group by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 22,795,894 shares of the financial services provider’s stock valued at $2,854,958,000 after purchasing an additional 563,460 shares during the last quarter. Capital International Investors raised its position in shares of CME Group by 11.4% in the 3rd quarter. Capital International Investors now owns 12,489,045 shares of the financial services provider’s stock worth $1,694,514,000 after acquiring an additional 1,279,058 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of CME Group by 13,530.7% in the 2nd quarter. Janus Henderson Group PLC now owns 6,150,016 shares of the financial services provider’s stock worth $770,227,000 after acquiring an additional 6,104,897 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of CME Group by 25.5% in the 2nd quarter. Wells Fargo & Company MN now owns 4,379,568 shares of the financial services provider’s stock worth $548,496,000 after acquiring an additional 889,217 shares in the last quarter. Finally, Thornburg Investment Management Inc. raised its position in shares of CME Group by 5.4% in the 3rd quarter. Thornburg Investment Management Inc. now owns 3,902,886 shares of the financial services provider’s stock worth $529,544,000 after acquiring an additional 200,483 shares in the last quarter. Institutional investors own 83.17% of the company’s stock.
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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