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Cboe Global (CBOE) to Post Q1 Earnings: What's in Store?
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Cboe Global Markets, Inc. (CBOE - Free Report) is slated to report first-quarter 2022 earnings on Apr 29, before the opening bell. CBOE delivered an earnings surprise in each of the last four quarters, the average being 6.20%.
Factors to Consider
Cboe Global’s first-quarter revenues are likely to have benefited from higher transaction fees driven by higher volumes traded, market data fees and access and capacity fees, and regulatory fees as well as the contribution from acquisitions. The Zacks Consensus Estimate for first-quarter revenues is pegged at $408.8 million, indicating an increase of 11.8% from the year-ago reported figure.
Cboe Global is likely to have gained from higher volumes across businesses, along with increased demand for data and access solutions.
Revenues from data and access solutions are likely to have benefited from continued demand for access to exchanges, proprietary market data and new subscribers to Cboe's front-end platforms.
Market data revenues are likely to have been aided by an increase in subscribers and additional revenues attributed to Chi-X Asia Pacific, consolidated tape plans, the licensing of proprietary options market data, index licensing and access and capacity services.
The Zacks Consensus Estimate for first-quarter market data fees and access and capacity fees is pegged at $66 million and $76 million, indicating growth of 3.1% and 15.1%, respectively, from the prior-year quarter reported figure.
Cboe Global is likely to have benefited from strong proprietary products, VIX futures, VIX options and SPX options. Also, Cboe Global expects to witness solid growth in multi-listed options trading.
Recently, Cboe Global reported a decent average daily volume (ADV) for the first quarter. Multiply-listed options ADV was 10.9 million contracts in the first quarter of 2021, up 1.8% year over year. Index options ADV was 2.4 million shares, up 27% year over year. Global FX ADNV was $41.9 billion, up 13.2% year over year. Futures ADV was 0.2 million shares, down 0.9% year over year.
Cboe Global estimates interest expenses between $12 million and $12.5 million in the first quarter of 2022.
The Zacks Consensus Estimate for first-quarter earnings per share is pegged at $1.67, indicating an increase of 9.1% from the prior-year quarter reported figure.
What the Zacks Model Says
Our proven model does not conclusively predict an earnings beat for Cboe Global this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Earnings ESP: Cboe Global has an Earnings ESP of 0.00%. This is because both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $1.67 per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Some stocks worth considering from the finance sector with the perfect mix of elements to surpass estimates in the upcoming quarterly releases are as follows:
Banco De Chile (BCH - Free Report) has an Earnings ESP of +24.31% and a Zacks Rank of 2. The Zacks Consensus Estimate for Banco De Chile’s first-quarter 2022 earnings is pegged at 60 cents per share, indicating an increase of 36.4% from the year-ago reported figure.
BCH’s earnings beat estimates in two of the four quarters of 2021.
Cigna Corporation (CI - Free Report) has an Earnings ESP of +6.26% and a Zacks Rank #2. The Zacks Consensus Estimate for Cigna’s first-quarter earnings is pegged at $5.13, indicating an increase of 8.5% from the year-ago reported figure.
CI’s earnings beat estimates in each of the four quarters of 2021.
The Allstate Corporation (ALL - Free Report) has an Earnings ESP of +4.77% and a Zacks Rank of 3. The Zacks Consensus Estimate for Allstate’s first-quarter earnings is pegged at $3.04, indicating a decrease of 50.2% from the year-ago reported figure.
ALL’s earnings beat estimates in three of the four quarters of 2021.
Image: Bigstock
Cboe Global (CBOE) to Post Q1 Earnings: What's in Store?
Cboe Global Markets, Inc. (CBOE - Free Report) is slated to report first-quarter 2022 earnings on Apr 29, before the opening bell. CBOE delivered an earnings surprise in each of the last four quarters, the average being 6.20%.
Factors to Consider
Cboe Global’s first-quarter revenues are likely to have benefited from higher transaction fees driven by higher volumes traded, market data fees and access and capacity fees, and regulatory fees as well as the contribution from acquisitions. The Zacks Consensus Estimate for first-quarter revenues is pegged at $408.8 million, indicating an increase of 11.8% from the year-ago reported figure.
Cboe Global is likely to have gained from higher volumes across businesses, along with increased demand for data and access solutions.
Revenues from data and access solutions are likely to have benefited from continued demand for access to exchanges, proprietary market data and new subscribers to Cboe's front-end platforms.
Market data revenues are likely to have been aided by an increase in subscribers and additional revenues attributed to Chi-X Asia Pacific, consolidated tape plans, the licensing of proprietary options market data, index licensing and access and capacity services.
The Zacks Consensus Estimate for first-quarter market data fees and access and capacity fees is pegged at $66 million and $76 million, indicating growth of 3.1% and 15.1%, respectively, from the prior-year quarter reported figure.
Cboe Global is likely to have benefited from strong proprietary products, VIX futures, VIX options and SPX options. Also, Cboe Global expects to witness solid growth in multi-listed options trading.
Recently, Cboe Global reported a decent average daily volume (ADV) for the first quarter. Multiply-listed options ADV was 10.9 million contracts in the first quarter of 2021, up 1.8% year over year. Index options ADV was 2.4 million shares, up 27% year over year. Global FX ADNV was $41.9 billion, up 13.2% year over year. Futures ADV was 0.2 million shares, down 0.9% year over year.
Cboe Global estimates interest expenses between $12 million and $12.5 million in the first quarter of 2022.
The Zacks Consensus Estimate for first-quarter earnings per share is pegged at $1.67, indicating an increase of 9.1% from the prior-year quarter reported figure.
What the Zacks Model Says
Our proven model does not conclusively predict an earnings beat for Cboe Global this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Earnings ESP: Cboe Global has an Earnings ESP of 0.00%. This is because both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $1.67 per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Cboe Global Markets, Inc. Price and EPS Surprise
Cboe Global Markets, Inc. price-eps-surprise | Cboe Global Markets, Inc. Quote
Zacks Rank: Cboe Global carries a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Some stocks worth considering from the finance sector with the perfect mix of elements to surpass estimates in the upcoming quarterly releases are as follows:
Banco De Chile (BCH - Free Report) has an Earnings ESP of +24.31% and a Zacks Rank of 2. The Zacks Consensus Estimate for Banco De Chile’s first-quarter 2022 earnings is pegged at 60 cents per share, indicating an increase of 36.4% from the year-ago reported figure.
BCH’s earnings beat estimates in two of the four quarters of 2021.
Cigna Corporation (CI - Free Report) has an Earnings ESP of +6.26% and a Zacks Rank #2. The Zacks Consensus Estimate for Cigna’s first-quarter earnings is pegged at $5.13, indicating an increase of 8.5% from the year-ago reported figure.
CI’s earnings beat estimates in each of the four quarters of 2021.
The Allstate Corporation (ALL - Free Report) has an Earnings ESP of +4.77% and a Zacks Rank of 3. The Zacks Consensus Estimate for Allstate’s first-quarter earnings is pegged at $3.04, indicating a decrease of 50.2% from the year-ago reported figure.
ALL’s earnings beat estimates in three of the four quarters of 2021.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.