CME Group (NASDAQ:CME) Earns “Sell” Rating from Rosenblatt Securities

CME Group (NASDAQ:CME)‘s stock had its “sell” rating reaffirmed by stock analysts at Rosenblatt Securities in a research report issued on Tuesday, AnalystRatings.com reports. They currently have a $138.00 price target on the financial services provider’s stock. Rosenblatt Securities’ price objective would indicate a potential downside of 17.91% from the company’s previous close.

CME has been the subject of several other research reports. Deutsche Bank decreased their target price on shares of CME Group from $196.00 to $178.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Bank of America dropped their target price on shares of CME Group from $194.00 to $180.00 and set a “neutral” rating on the stock in a report on Friday, July 10th. Wells Fargo & Company decreased their price target on CME Group from $186.00 to $176.00 in a research report on Monday, July 6th. Oppenheimer reissued a “buy” rating on shares of CME Group in a research report on Wednesday, July 29th. Finally, Goldman Sachs Group dropped their price target on shares of CME Group from $175.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, June 22nd. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $185.06.

CME stock traded up $2.02 during midday trading on Tuesday, hitting $168.10. 1,479,798 shares of the company’s stock were exchanged, compared to its average volume of 2,028,335. The firm has a 50 day moving average price of $169.61 and a 200-day moving average price of $177.12. CME Group has a 12-month low of $131.80 and a 12-month high of $225.36. The stock has a market capitalization of $59.41 billion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 5.38 and a beta of 0.30. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13.

CME Group (NASDAQ:CME) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.01. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. CME Group had a net margin of 46.39% and a return on equity of 9.93%. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.76 earnings per share. On average, sell-side analysts forecast that CME Group will post 7.03 EPS for the current fiscal year.

In other news, Director Daniel R. Glickman sold 900 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $173.22, for a total value of $155,898.00. Following the completion of the transaction, the director now directly owns 14,405 shares in the company, valued at approximately $2,495,234.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dennis Suskind sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $174.61, for a total transaction of $349,220.00. Following the sale, the director now directly owns 3,565 shares of the company’s stock, valued at approximately $622,484.65. The disclosure for this sale can be found here. Insiders sold a total of 15,900 shares of company stock valued at $2,695,838 in the last quarter. Corporate insiders own 1.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CME. Wellington Management Group LLP grew its position in CME Group by 6,150.5% in the first quarter. Wellington Management Group LLP now owns 2,126,309 shares of the financial services provider’s stock valued at $367,659,000 after acquiring an additional 2,092,291 shares during the last quarter. Viking Global Investors LP purchased a new stake in CME Group in the 1st quarter worth approximately $294,288,000. GUARDCAP ASSET MANAGEMENT Ltd grew its position in CME Group by 67.7% during the second quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 1,586,970 shares of the financial services provider’s stock worth $257,946,000 after buying an additional 640,859 shares in the last quarter. BlackRock Inc. increased its holdings in shares of CME Group by 2.4% in the 2nd quarter. BlackRock Inc. now owns 27,282,937 shares of the financial services provider’s stock worth $4,434,567,000 after buying an additional 637,407 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of CME Group by 28.9% during the 1st quarter. California Public Employees Retirement System now owns 2,568,944 shares of the financial services provider’s stock worth $444,196,000 after acquiring an additional 576,402 shares during the last quarter. Institutional investors own 84.24% of the company’s stock.

CME Group Company Profile

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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