CME Group (NASDAQ:CME) Downgraded by BidaskClub to “Strong Sell”

CME Group (NASDAQ:CME) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Friday, March 22nd, BidAskClub reports.

A number of other brokerages also recently issued reports on CME. Zacks Investment Research downgraded shares of CME Group from a “buy” rating to a “hold” rating in a report on Friday, December 7th. Bank of America restated a “neutral” rating and set a $191.00 target price (down previously from $200.00) on shares of CME Group in a research note on Friday, January 11th. They noted that the move was a valuation call. Sanford C. Bernstein restated an “outperform” rating and set a $210.00 target price on shares of CME Group in a research note on Friday, February 15th. UBS Group cut shares of CME Group from a “buy” rating to a “neutral” rating and raised their target price for the stock from $185.00 to $204.00 in a research note on Wednesday, November 28th. Finally, Jefferies Financial Group restated a “buy” rating and set a $204.00 target price on shares of CME Group in a research note on Wednesday, January 9th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. CME Group currently has a consensus rating of “Hold” and a consensus target price of $192.00.

CME stock traded up $0.48 during trading on Friday, hitting $173.40. 1,093,704 shares of the stock traded hands, compared to its average volume of 1,813,328. CME Group has a 1 year low of $153.90 and a 1 year high of $197.08. The company has a market capitalization of $61.87 billion, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 3.48 and a beta of 0.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.01 and a current ratio of 1.01.

CME Group (NASDAQ:CME) last announced its quarterly earnings data on Thursday, February 14th. The financial services provider reported $1.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.75 by $0.02. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. CME Group had a net margin of 45.53% and a return on equity of 9.85%. CME Group’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.12 EPS. As a group, research analysts predict that CME Group will post 6.82 earnings per share for the current fiscal year.

In other news, CFO John W. Pietrowicz sold 2,500 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $168.27, for a total transaction of $420,675.00. Following the completion of the sale, the chief financial officer now directly owns 35,354 shares of the company’s stock, valued at $5,949,017.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey M. Bernacchi sold 10,087 shares of the business’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $177.94, for a total transaction of $1,794,880.78. Following the sale, the director now directly owns 42,004 shares of the company’s stock, valued at $7,474,191.76. The disclosure for this sale can be found here. Insiders sold 28,489 shares of company stock worth $4,948,996 in the last 90 days. 1.20% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Sheaff Brock Investment Advisors LLC raised its holdings in CME Group by 0.3% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 22,040 shares of the financial services provider’s stock worth $4,146,000 after purchasing an additional 60 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in CME Group by 1.4% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 4,575 shares of the financial services provider’s stock worth $860,000 after purchasing an additional 65 shares in the last quarter. Private Trust Co. NA raised its holdings in CME Group by 1.9% in the fourth quarter. Private Trust Co. NA now owns 3,488 shares of the financial services provider’s stock worth $656,000 after purchasing an additional 66 shares in the last quarter. Dubuque Bank & Trust Co. raised its holdings in CME Group by 83.1% in the first quarter. Dubuque Bank & Trust Co. now owns 152 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 69 shares in the last quarter. Finally, Front Barnett Associates LLC raised its holdings in CME Group by 5.4% in the fourth quarter. Front Barnett Associates LLC now owns 1,433 shares of the financial services provider’s stock worth $267,000 after purchasing an additional 73 shares in the last quarter. 84.85% of the stock is 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 commodities, and metals, as well as fixed income products.

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Analyst Recommendations for CME Group (NASDAQ:CME)

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