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Cboe Global Markets, Inc.

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Shares of Cboe Global have underperformed the industry year to date.  Rising costs remain the key concerns for Cboe Global. Its adjusted operating expense guidance was affirmed in the range of $420-$428 million, up 1-3% over 2017 and capital expenditure in the $45–$50 million band for 2018. Nonetheless, Cboe Global remains focused on expanding its proprietary product offering while extending its global customer reach. Diversified product portfolio and core competencies fuel its growth prospects. Also, the buyout of Bats Global Markets is a strategic fit as it is likely to broaden and diversify Cboe Global’s product portfolio and boost margins, besides generating expense synergies. It enjoys a strong liquidity and remains focused on improving its leverage ratio. It is set to release its second quarter results on Aug 3. A Zacks Rank #4 combined with a negative Earnings ESP of 3.20% makes prediction difficult.

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