CBOE Holdings Inc. (NASDAQ:CBOE) – Equities research analysts at Jefferies Group lowered their Q3 2016 earnings estimates for shares of CBOE Holdings in a report released on Tuesday. Jefferies Group analyst D. Fannon now anticipates that the brokerage will post earnings per share of $0.57 for the quarter, down from their prior estimate of $0.59. Jefferies Group currently has a “Hold” rating and a $66.00 target price on the stock. Jefferies Group also issued estimates for CBOE Holdings’ FY2016 earnings at $2.38 EPS.
A number of other equities research analysts have also issued reports on the company. Zacks Investment Research lowered CBOE Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, September 7th. Credit Suisse Group AG reissued a “sell” rating and set a $60.00 price target on shares of CBOE Holdings in a research note on Monday, September 26th. Wells Fargo & Co. raised CBOE Holdings from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $67.50 to $80.50 in a research note on Tuesday, October 4th. Bank of America Corp. lowered CBOE Holdings from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $68.29 to $65.00 in a research note on Thursday, August 11th. They noted that the move was a valuation call. Finally, Goldman Sachs Group Inc. reissued a “sell” rating and set a $61.00 price target on shares of CBOE Holdings in a research note on Tuesday, September 27th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. CBOE Holdings has an average rating of “Hold” and a consensus target price of $65.26.
Shares of CBOE Holdings (NASDAQ:CBOE) opened at 66.81 on Wednesday. CBOE Holdings has a 1-year low of $58.43 and a 1-year high of $72.53. The firm’s 50-day moving average price is $68.04 and its 200 day moving average price is $66.16. The firm has a market cap of $5.43 billion, a PE ratio of 25.27 and a beta of 0.55.
CBOE Holdings (NASDAQ:CBOE) last posted its earnings results on Friday, July 29th. The company reported $0.60 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.60. The company earned $163.30 million during the quarter, compared to analysts’ expectations of $159.22 million. CBOE Holdings had a return on equity of 81.50% and a net margin of 32.55%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.54 earnings per share.
A number of hedge funds have recently made changes to their positions in CBOE. Steinberg Global Asset Management bought a new stake in shares of CBOE Holdings during the second quarter valued at about $203,000. Tower Research Capital LLC TRC boosted its position in CBOE Holdings by 53.4% in the second quarter. Tower Research Capital LLC TRC now owns 3,204 shares of the company’s stock worth $213,000 after buying an additional 1,115 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in CBOE Holdings during the third quarter worth $220,000. Raymond James & Associates boosted its position in CBOE Holdings by 2.2% in the second quarter. Raymond James & Associates now owns 3,609 shares of the company’s stock worth $240,000 after buying an additional 76 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in CBOE Holdings during the second quarter worth $246,000. Hedge funds and other institutional investors own 73.76% of the company’s stock.
In related news, CEO Edward T. Tilly sold 6,250 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $67.86, for a total value of $424,125.00. Following the completion of the sale, the chief executive officer now directly owns 73,611 shares in the company, valued at approximately $4,995,242.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.96% of the stock is owned by corporate insiders.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.92 annualized dividend and a yield of 1.38%. CBOE Holdings’s dividend payout ratio is currently 37.88%.
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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