CME Group (CME) Cut to Buy at BidaskClub

BidaskClub lowered shares of CME Group (NASDAQ:CME) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday.

CME has been the subject of a number of other research reports. Bank of America upped their target price on CME Group from $175.00 to $185.00 and gave the company a buy rating in a report on Thursday, March 8th. Zacks Investment Research downgraded CME Group from a buy rating to a hold rating in a report on Tuesday, March 6th. ValuEngine upgraded CME Group from a hold rating to a buy rating in a report on Monday, April 2nd. Sanford C. Bernstein started coverage on CME Group in a report on Monday, April 9th. They set an outperform rating and a $190.00 target price for the company. Finally, Deutsche Bank upped their target price on CME Group from $185.00 to $197.00 and gave the company a buy rating in a report on Friday, April 6th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. CME Group currently has a consensus rating of Buy and an average price target of $165.57.

Shares of CME Group stock traded up $0.06 during midday trading on Thursday, reaching $163.92. 1,686,700 shares of the company’s stock traded hands, compared to its average volume of 1,694,890. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.10. The company has a market cap of $55.39 billion, a PE ratio of 34.36, a P/E/G ratio of 2.29 and a beta of 0.55. CME Group has a 12 month low of $119.30 and a 12 month high of $174.36.

CME Group (NASDAQ:CME) last announced its earnings results on Thursday, April 26th. The financial services provider reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.01. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. CME Group had a return on equity of 8.48% and a net margin of 111.45%. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.22 earnings per share. research analysts anticipate that CME Group will post 6.79 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, June 25th. Investors of record on Friday, June 8th were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, June 7th. This represents a $2.80 annualized dividend and a yield of 1.71%. CME Group’s payout ratio is 58.70%.

In related news, CFO John W. Pietrowicz sold 2,500 shares of the company’s stock in a transaction on Tuesday, April 10th. The stock was sold at an average price of $161.02, for a total value of $402,550.00. Following the sale, the chief financial officer now directly owns 34,957 shares of the company’s stock, valued at $5,628,776.14. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey M. Bernacchi sold 3,815 shares of the company’s stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $161.04, for a total value of $614,367.60. Following the completion of the sale, the director now directly owns 58,607 shares in the company, valued at $9,438,071.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,885 shares of company stock worth $5,320,171. 0.57% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CME. USS Investment Management Ltd grew its stake in shares of CME Group by 642.7% in the first quarter. USS Investment Management Ltd now owns 1,212,042 shares of the financial services provider’s stock worth $191,115,000 after acquiring an additional 1,048,842 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of CME Group by 816.2% in the fourth quarter. Macquarie Group Ltd. now owns 745,939 shares of the financial services provider’s stock worth $121,811,000 after acquiring an additional 664,523 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in shares of CME Group by 777.5% in the first quarter. Westfield Capital Management Co. LP now owns 610,726 shares of the financial services provider’s stock worth $98,779,000 after acquiring an additional 541,126 shares during the last quarter. Epoch Investment Partners Inc. grew its stake in shares of CME Group by 51.9% in the first quarter. Epoch Investment Partners Inc. now owns 1,545,562 shares of the financial services provider’s stock worth $249,980,000 after acquiring an additional 528,198 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its stake in shares of CME Group by 71.1% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,196,575 shares of the financial services provider’s stock worth $174,759,000 after acquiring an additional 497,377 shares during the last quarter. 82.22% of the stock is currently owned by hedge funds and other institutional investors.

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 products, and metals.

Analyst Recommendations for CME Group (NASDAQ:CME)

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