CME Group Inc. (NASDAQ:CME – Free Report) – Investment analysts at Zacks Research lifted their Q3 2023 earnings per share estimates for shares of CME Group in a report issued on Wednesday, August 9th. Zacks Research analyst T. De now forecasts that the financial services provider will post earnings of $2.17 per share for the quarter, up from their prior estimate of $2.11. The consensus estimate for CME Group’s current full-year earnings is $9.05 per share. Zacks Research also issued estimates for CME Group’s Q4 2023 earnings at $2.09 EPS, Q1 2024 earnings at $2.21 EPS, Q2 2024 earnings at $2.17 EPS, Q4 2024 earnings at $2.23 EPS, FY2024 earnings at $8.78 EPS, Q1 2025 earnings at $2.28 EPS, Q2 2025 earnings at $2.31 EPS and FY2025 earnings at $9.04 EPS.
Several other brokerages have also commented on CME. Barclays boosted their price target on CME Group from $215.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Rosenblatt Securities boosted their price target on CME Group from $169.00 to $173.00 and gave the stock a “sell” rating in a research note on Thursday, July 27th. Citigroup boosted their price target on CME Group from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. StockNews.com began coverage on CME Group in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on CME Group from $206.00 to $208.00 in a research note on Thursday, April 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, CME Group presently has an average rating of “Hold” and a consensus target price of $211.70.
CME Group Price Performance
Shares of CME opened at $205.77 on Friday. The stock’s 50 day moving average is $188.33 and its two-hundred day moving average is $185.62. The firm has a market capitalization of $74.02 billion, a PE ratio of 25.01, a P/E/G ratio of 3.20 and a beta of 0.43. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12. CME Group has a twelve month low of $166.54 and a twelve month high of $209.31.
CME Group (NASDAQ:CME – Get Free Report) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.10. CME Group had a return on equity of 11.30% and a net margin of 56.88%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the company earned $1.97 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year.
CME Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Friday, September 8th will be issued a $1.10 dividend. The ex-dividend date is Thursday, September 7th. This represents a $4.40 annualized dividend and a yield of 2.14%. CME Group’s dividend payout ratio (DPR) is presently 53.72%.
Insider Buying and Selling at CME Group
In other CME Group news, insider Sunil Cutinho sold 10,102 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $198.68, for a total value of $2,007,065.36. Following the completion of the transaction, the insider now directly owns 32,534 shares in the company, valued at approximately $6,463,855.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Sunil Cutinho sold 10,102 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $198.68, for a total transaction of $2,007,065.36. Following the completion of the sale, the insider now directly owns 32,534 shares of the company’s stock, valued at approximately $6,463,855.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel R. Glickman sold 750 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $206.09, for a total transaction of $154,567.50. Following the sale, the director now directly owns 14,658 shares of the company’s stock, valued at $3,020,867.22. The disclosure for this sale can be found here. In the last three months, insiders sold 21,591 shares of company stock worth $4,388,993. Insiders own 0.30% of the company’s stock.
Institutional Trading of CME Group
Institutional investors have recently added to or reduced their stakes in the business. Balentine LLC grew its stake in shares of CME Group by 44.9% during the fourth quarter. Balentine LLC now owns 8,870 shares of the financial services provider’s stock valued at $1,492,000 after acquiring an additional 2,748 shares in the last quarter. Aigen Investment Management LP acquired a new stake in CME Group during the 4th quarter valued at approximately $1,453,000. Clear Street Markets LLC grew its stake in CME Group by 25.1% during the 4th quarter. Clear Street Markets LLC now owns 564 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 113 shares in the last quarter. Gradient Investments LLC grew its stake in CME Group by 5.5% during the 1st quarter. Gradient Investments LLC now owns 87,930 shares of the financial services provider’s stock valued at $16,840,000 after purchasing an additional 4,569 shares in the last quarter. Finally, Perigon Wealth Management LLC grew its stake in CME Group by 2.0% during the 1st quarter. Perigon Wealth Management LLC now owns 45,615 shares of the financial services provider’s stock valued at $8,736,000 after purchasing an additional 891 shares in the last quarter. 85.98% of the stock is owned by hedge funds and other institutional investors.
CME Group Company Profile
CME Group Inc, together with its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers futures and options products based on interest rates, equity indexes, foreign exchange, agricultural commodities, energy, and metals, as well as fixed income and foreign currency trading services.
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