CME Group (NASDAQ:CME) Sets New 12-Month High on Better-Than-Expected Earnings

CME Group Inc. (NASDAQ:CME)’s share price reached a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $230.30 and last traded at $229.41, with a volume of 298100 shares trading hands. The stock had previously closed at $227.14.

The financial services provider reported $2.68 EPS for the quarter, topping the consensus estimate of $2.65 by $0.03. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.59 billion. CME Group had a return on equity of 12.82% and a net margin of 56.98%. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.25 EPS.

CME Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Monday, September 9th were paid a $1.15 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.01%. CME Group’s payout ratio is currently 52.33%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CME shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $235.00 price target on shares of CME Group in a report on Thursday. Bank of America raised their target price on CME Group from $177.00 to $180.00 and gave the company an “underperform” rating in a research report on Thursday, October 3rd. Redburn Atlantic downgraded CME Group from a “buy” rating to a “neutral” rating and set a $244.00 price target on the stock. in a research report on Tuesday, October 8th. Barclays boosted their price objective on CME Group from $219.00 to $231.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Citigroup lifted their price target on shares of CME Group from $250.00 to $255.00 and gave the company a “buy” rating in a research note on Thursday. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, CME Group presently has a consensus rating of “Hold” and a consensus target price of $222.07.

Insider Activity at CME Group

In other CME Group news, CFO Lynne Fitzpatrick sold 754 shares of the company’s stock in a transaction on Sunday, September 15th. The stock was sold at an average price of $216.99, for a total value of $163,610.46. Following the completion of the sale, the chief financial officer now directly owns 13,261 shares in the company, valued at $2,877,504.39. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Bryan T. Durkin sold 7,593 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $214.59, for a total transaction of $1,629,381.87. Following the completion of the transaction, the director now directly owns 55,607 shares in the company, valued at approximately $11,932,706.13. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Lynne Fitzpatrick sold 754 shares of the stock in a transaction dated Sunday, September 15th. The stock was sold at an average price of $216.99, for a total value of $163,610.46. Following the transaction, the chief financial officer now directly owns 13,261 shares in the company, valued at approximately $2,877,504.39. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On CME Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. CVA Family Office LLC increased its holdings in shares of CME Group by 11.8% in the 3rd quarter. CVA Family Office LLC now owns 436 shares of the financial services provider’s stock valued at $96,000 after acquiring an additional 46 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in CME Group by 4.3% in the first quarter. Capital Advisors Ltd. LLC now owns 1,160 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 48 shares during the last quarter. Lester Murray Antman dba SimplyRich lifted its position in CME Group by 0.7% in the second quarter. Lester Murray Antman dba SimplyRich now owns 7,667 shares of the financial services provider’s stock valued at $1,507,000 after acquiring an additional 50 shares during the last quarter. Essex LLC boosted its stake in CME Group by 3.3% in the first quarter. Essex LLC now owns 1,649 shares of the financial services provider’s stock valued at $355,000 after acquiring an additional 52 shares in the last quarter. Finally, Quent Capital LLC increased its position in shares of CME Group by 10.2% during the third quarter. Quent Capital LLC now owns 593 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 55 shares in the last quarter. Institutional investors and hedge funds own 87.75% of the company’s stock.

CME Group Price Performance

The company has a fifty day moving average price of $218.08 and a two-hundred day moving average price of $208.66. The firm has a market capitalization of $82.60 billion, a PE ratio of 26.06, a P/E/G ratio of 7.76 and a beta of 0.55. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10.

About CME Group

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.