CME Group (CME) Rating Lowered to Buy at BidaskClub

CME Group (NASDAQ:CME) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.

A number of other brokerages also recently weighed in on CME. Bank of America increased their price objective on shares of CME Group from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, March 8th. Zacks Investment Research downgraded shares of CME Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. ValuEngine upgraded shares of CME Group from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Sanford C. Bernstein began coverage on shares of CME Group in a research report on Monday, April 9th. They set an “outperform” rating and a $190.00 price objective on the stock. Finally, Deutsche Bank increased their price objective on shares of CME Group from $185.00 to $197.00 and gave the company a “buy” rating in a research 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 company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $165.57.

Shares of NASDAQ CME opened at $163.92 on Thursday. The company has a market capitalization of $55.62 billion, a PE ratio of 34.36, a PEG ratio of 2.30 and a beta of 0.55. CME Group has a 52-week low of $119.30 and a 52-week high of $174.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.04.

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

In other CME Group news, CFO John W. Pietrowicz sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 10th. The shares were sold at an average price of $161.02, for a total transaction of $402,550.00. Following the completion of 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 filing with the SEC, which can be accessed through this link. Also, Director Ronald A. Pankau sold 250 shares of the company’s stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $171.51, for a total transaction of $42,877.50. Following the sale, the director now directly owns 3,559 shares of the company’s stock, valued at $610,404.09. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,885 shares of company stock valued at $5,320,171. 0.57% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in CME. USS Investment Management Ltd increased 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 purchasing an additional 1,048,842 shares in the last quarter. Macquarie Group Ltd. increased 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 purchasing an additional 664,523 shares in the last quarter. Westfield Capital Management Co. LP increased 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 purchasing an additional 541,126 shares in the last quarter. Epoch Investment Partners Inc. increased 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 purchasing an additional 528,198 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased 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 purchasing an additional 497,377 shares in the last quarter. 82.22% of the stock is owned by institutional investors and hedge funds.

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 products, and metals.

Analyst Recommendations for CME Group (NASDAQ:CME)

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