CME Group (CME) Cut to “Sell” at BidaskClub

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

Several other analysts have also recently weighed in on CME. Zacks Investment Research raised shares of CME Group from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. ValuEngine cut shares of CME Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. Bank of America set a $180.00 price target on shares of CME Group and gave the company a “hold” rating in a research note on Tuesday, April 9th. Rosenblatt Securities cut shares of CME Group from a “neutral” rating to a “sell” rating in a research note on Thursday, April 18th. Finally, Citigroup set a $205.00 price target on shares of CME Group and gave the company a “buy” rating in a research note on Friday, February 15th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. CME Group currently has an average rating of “Hold” and a consensus target price of $192.00.

CME Group stock opened at $176.21 on Thursday. CME Group has a 1-year low of $153.90 and a 1-year high of $197.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $62.80 billion, a PE ratio of 25.84, a PEG ratio of 3.60 and a beta of 0.29.

CME Group (NASDAQ:CME) last posted its quarterly earnings results on Thursday, February 14th. The financial services provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.02. CME Group had a net margin of 45.53% and a return on equity of 9.85%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the company posted $1.12 EPS. The business’s revenue for the quarter was up 37.4% on a year-over-year basis. As a group, equities analysts forecast that CME Group will post 6.81 earnings per share for the current fiscal year.

In related news, insider Kathleen M. Cronin sold 8,340 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $167.54, for a total transaction of $1,397,283.60. Following the completion of the transaction, the insider now owns 41,604 shares of the company’s stock, valued at approximately $6,970,334.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey M. Bernacchi sold 10,087 shares of the stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $177.94, for a total transaction of $1,794,880.78. Following the transaction, the director now directly owns 42,004 shares of the company’s stock, valued at approximately $7,474,191.76. The disclosure for this sale can be found here. Insiders have sold a total of 28,489 shares of company stock valued at $4,948,996 in the last ninety days. 1.20% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund lifted its holdings in CME Group by 18,502.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 16,220,459 shares of the financial services provider’s stock worth $86,000 after buying an additional 16,133,266 shares in the last quarter. FMR LLC lifted its holdings in CME Group by 114.7% during the 4th quarter. FMR LLC now owns 6,198,088 shares of the financial services provider’s stock worth $1,165,984,000 after buying an additional 3,310,989 shares in the last quarter. Norges Bank acquired a new stake in CME Group during the 4th quarter worth approximately $597,417,000. BlackRock Inc. lifted its holdings in CME Group by 8.2% during the 4th quarter. BlackRock Inc. now owns 24,250,752 shares of the financial services provider’s stock worth $4,562,052,000 after buying an additional 1,828,640 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in CME Group by 19,784.0% during the 4th quarter. Bessemer Group Inc. now owns 1,278,539 shares of the financial services provider’s stock worth $240,518,000 after buying an additional 1,272,109 shares in the last quarter. 84.84% 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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