CME Group (NASDAQ:CME) Upgraded to Buy at BidaskClub

BidaskClub upgraded shares of CME Group (NASDAQ:CME) from a hold rating to a buy rating in a research note published on Friday, BidAskClub reports.

CME has been the topic of a number of other reports. Wells Fargo & Co boosted their price target on shares of CME Group from $176.00 to $200.00 and gave the stock a market perform rating in a research note on Wednesday, July 3rd. Zacks Investment Research lowered shares of CME Group from a hold rating to a sell rating and set a $158.00 price target on the stock. in a research note on Monday, May 27th. ValuEngine upgraded shares of CME Group from a hold rating to a buy rating in a research note on Wednesday, May 8th. Rosenblatt Securities lowered shares of CME Group from a neutral rating to a sell rating in a research note on Thursday, April 18th. Finally, Citigroup set a $202.00 price target on shares of CME Group and gave the stock a buy rating in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $194.00.

NASDAQ CME traded up $4.62 during trading on Friday, reaching $215.72. The company’s stock had a trading volume of 879,352 shares, compared to its average volume of 1,372,523. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $74.58 billion, a price-to-earnings ratio of 31.63, a price-to-earnings-growth ratio of 4.66 and a beta of 0.23. CME Group has a twelve month low of $161.05 and a twelve month high of $216.73. The business’s fifty day moving average is $202.16.

CME Group (NASDAQ:CME) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.01. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. CME Group had a net margin of 39.36% and a return on equity of 9.14%. CME Group’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.74 earnings per share. On average, equities analysts predict that CME Group will post 6.66 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Monday, September 9th. CME Group’s dividend payout ratio is currently 43.99%.

In related news, CEO Terrence A. Duffy sold 35,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $200.15, for a total transaction of $7,005,250.00. Following the sale, the chief executive officer now owns 79,057 shares of the company’s stock, valued at $15,823,258.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Howard J. Siegel sold 5,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $205.00, for a total transaction of $1,025,000.00. Following the sale, the director now directly owns 80,382 shares in the company, valued at approximately $16,478,310. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,863 shares of company stock worth $16,110,535. 1.20% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC lifted its holdings in shares of CME Group by 5.7% in the first quarter. FMR LLC now owns 6,553,654 shares of the financial services provider’s stock valued at $1,078,600,000 after purchasing an additional 355,566 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of CME Group by 10.7% in the first quarter. Janus Henderson Group PLC now owns 6,229,661 shares of the financial services provider’s stock valued at $1,025,278,000 after purchasing an additional 603,645 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of CME Group by 12.9% in the fourth quarter. Geode Capital Management LLC now owns 4,715,269 shares of the financial services provider’s stock valued at $885,776,000 after purchasing an additional 537,917 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of CME Group by 1.0% in the first quarter. Northern Trust Corp now owns 4,212,490 shares of the financial services provider’s stock valued at $693,291,000 after purchasing an additional 42,753 shares in the last quarter. Finally, Parnassus Investments CA purchased a new stake in shares of CME Group in the second quarter valued at about $544,292,000. 84.58% of the stock is currently owned by institutional investors.

About CME Group

CME Group Inc, through its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers a range of products across various asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, and metals, as well as fixed income products.

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Analyst Recommendations for CME Group (NASDAQ:CME)

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