Company Update (NASDAQ:CME): CME Group says delists 2019 soymeal contracts, reviews specifications

[Reuters] – The CME Group on Monday said it was delisting all three of its 2019 soymeal futures contracts as the exchange conducts customer outreach ahead of potential changes in the contract specifications. The exchange … Read more on this. CME Group Inc. (CME) , currently valued at $30.51B, started trading this morning at $88.41. Looking at the stock, its one day range is $87.00 to $90.67 with a one year range of $81.87 to $100.87. CME Group (CME) shares are currently priced at 20.55x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 11.68x earnings multiple for the same period. The company pays shareholders $2.40 per share in dividend income per year, for a current yield of 2.71%. Consensus earnings for the current quarter by the 14 sell-side analysts covering the stock is an estimate of $1.07 per share, which would be $0.09 better than the year-ago quarter and a $0.01 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $4.31, which would be a $0.45 improvement when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $906.76 Million. If realized, that would be a 7.60% increase over the year-ago quarter. In terms of ratings, JP Morgan upgraded CME from Neutral to Overweight (Jan 13, 2016). Previously, BofA/Merrill upgraded CME from Neutral to Buy. With the above information in mind, readers should note that the average price target is $99.00, which is 11.98% above where the stock opened this morning. See more in (NASDAQ:CME) Similar Articles: Company Update (NASDAQ:CME): CME Group Hit Record Average Daily Volume of 18.2 Million Contracts per Day in January 2016, up 16 Percent from January 2015 Market Update: CME Group Inc (NASDAQ:CME) – CME Group Volume Averaged 14.4 Million Contracts per Day in Third-Quarter 2015, Up 7 Percent from Third-Quarter 2014 Stock Update (NASDAQ:CME): CME Group Volume Averaged 16.3 Million Contracts per Day in August 2015, Up 25 Percent from August 2014