CBOE Holdings Inc. (NASDAQ:CBOE) – Investment analysts at Jefferies Group lowered their Q3 2016 earnings estimates for shares of CBOE Holdings in a research report issued on Monday. Jefferies Group analyst D. Fannon now anticipates that the brokerage will post earnings per share of $0.59 for the quarter, down from their previous estimate of $0.64. Jefferies Group has a “Hold” rating and a $62.00 price target on the stock. Jefferies Group also issued estimates for CBOE Holdings’ Q4 2016 earnings at $0.56 EPS, FY2016 earnings at $2.39 EPS, Q1 2017 earnings at $0.64 EPS, Q3 2017 earnings at $0.66 EPS, Q4 2017 earnings at $0.63 EPS and FY2017 earnings at $2.56 EPS.
Several other equities analysts have also recently issued reports on the company. Zacks Investment Research cut CBOE Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, September 7th. Credit Suisse Group AG restated a “sell” rating and set a $60.00 target price on shares of CBOE Holdings in a research note on Monday. Bank of America Corp. cut CBOE Holdings from a “neutral” rating to an “underperform” rating and decreased their target price 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. Goldman Sachs Group Inc. restated a “sell” rating and set a $61.00 target price on shares of CBOE Holdings in a research note on Tuesday. Finally, Barclays PLC restated an “underweight” rating and set a $52.00 target price (down previously from $54.00) on shares of CBOE Holdings in a research note on Friday, September 2nd. Five analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $65.46.
Shares of CBOE Holdings (NASDAQ:CBOE) opened at 66.31 on Tuesday. CBOE Holdings has a 52-week low of $58.43 and a 52-week high of $72.53. The firm has a 50-day moving average price of $68.42 and a 200 day moving average price of $66.08. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of 25.08 and a beta of 0.54.
CBOE Holdings (NASDAQ:CBOE) last released its quarterly earnings data on Friday, July 29th. The company reported $0.60 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. CBOE Holdings had a return on equity of 81.50% and a net margin of 32.55%. The business had revenue of $163.30 million for the quarter, compared to analyst estimates of $159.22 million. During the same quarter in the prior year, the firm posted $0.54 EPS. The business’s quarterly revenue was up 9.8% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBOE. Norges Bank bought a new position in CBOE Holdings during the fourth quarter worth about $45,780,000. OLD National Bancorp IN raised its position in CBOE Holdings by 6.1% in the first quarter. OLD National Bancorp IN now owns 6,553 shares of the company’s stock worth $428,000 after buying an additional 378 shares during the last quarter. Aperio Group LLC raised its position in CBOE Holdings by 5.5% in the first quarter. Aperio Group LLC now owns 31,110 shares of the company’s stock worth $2,032,000 after buying an additional 1,621 shares during the last quarter. BlackRock Group LTD raised its position in CBOE Holdings by 66.4% in the first quarter. BlackRock Group LTD now owns 75,519 shares of the company’s stock worth $4,934,000 after buying an additional 30,147 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in CBOE Holdings by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,433,801 shares of the company’s stock worth $159,000,000 after buying an additional 9,704 shares during the last quarter. 74.20% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Edward T. Tilly sold 6,250 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 73,611 shares of the company’s stock, valued at $4,995,242.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.96% of the stock is owned by insiders.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Wednesday, August 31st. CBOE Holdings’s 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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