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Is a Beat in Store for Cboe Global (CBOE) in Q1 Earnings?
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Cboe Global Markets, Inc. (CBOE - Free Report) is slated to report first-quarter 2024 earnings on May 3, before the opening bell. CBOE beat earnings in each of the last four quarters, the average surprise being 4.14%.
Factors to Consider
Higher index options trading volumes and improvements in access and capacity fees and proprietary market data fees across segments, as well as the contribution from acquisitions, are likely to have favored the company’s top line in the first quarter. A decrease in cash and spot markets net revenues is expected to have partially offset the upside. The Zacks Consensus Estimate for first-quarter revenues is pegged at $507.41 million, indicating an increase of 7.6% from the year-ago reported figure.
Data and access revenues are likely to have benefited from an increase in access and capacity fees and proprietary market data fees.
Market data revenues are expected to have been aided by higher proprietary market data fees in the Options segment, along with increased proprietary market data fees attributable to Cboe Canada.
Access and capacity fees are likely to have been aided by higher physical port fees in the Options, North American Equities, and Europe and Asia Pacific segments and increased logical port fees in the Options, North American Equities, and Global FX segments, both driven by a rise in subscribers and pricing.
The Zacks Consensus Estimate for first-quarter market data fees and access and capacity fees is pegged at $75 million and $91 million, indicating growth of 5.6% and 8.3%, respectively, from the prior-year quarter’s reported figure. Our estimate for market data revenues is pegged at $72.8 million, while the same for access and capacity fees is pegged at $90.1 million.
Cboe Global is likely to have benefited from strong proprietary products, VIX futures, VIX and SPX options. Also, the company expects to witness solid growth in multi-listed options trading.
CBOE estimates net interest expenses in the range of $10-$11 million in the quarter to be reported.
Continued share buybacks are expected to have aided the bottom line in the to-be-reported quarter.
The Zacks Consensus Estimate for first-quarter earnings per share is pegged at $2.04, indicating an increase of 7.3% from the prior-year quarter’s reported figure.
What the Zacks Model Says
Our proven model predicts 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.
Earnings ESP: Cboe Global has an Earnings ESP of +0.35%. This is because the Most Accurate Estimate of $2.05 is pegged higher than the Zacks Consensus Estimate of $2.04. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: CBOE carries a Zacks Rank of 3 at present.
Other Stocks to Consider
Here are some other finance stocks you may want to consider, as our model shows that these, too, have the right combination of elements to post an earnings beat:
Horace Mann Educators Corporation (HMN - Free Report) has an Earnings ESP of +15.03% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for first-quarter 2024 earnings is pegged at 77 cents, indicating a year-over-year increase of 234.7%. You can see the complete list of today’s Zacks #1 Rank stocks here.
HMN’s earnings beat estimates in three of the last four reported quarters and matched in one.
Primerica, Inc. (PRI - Free Report) has an Earnings ESP of +0.46% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for first-quarter 2024 earnings is pegged at $4.11, indicating a year-over-year increase of 17.7%.
PRI’s earnings beat estimates in three of the last four reported quarters and missed in one.
Atlanticus Holdings Corporation (ATLC - Free Report) has an Earnings ESP of +21.43% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for first-quarter 2024 earnings is pegged at 98 cents, indicating a year-over-year decrease of 9.2%.
ATLC’s earnings beat estimates in three of the last four reported quarters and missed in one.
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Is a Beat in Store for Cboe Global (CBOE) in Q1 Earnings?
Cboe Global Markets, Inc. (CBOE - Free Report) is slated to report first-quarter 2024 earnings on May 3, before the opening bell. CBOE beat earnings in each of the last four quarters, the average surprise being 4.14%.
Factors to Consider
Higher index options trading volumes and improvements in access and capacity fees and proprietary market data fees across segments, as well as the contribution from acquisitions, are likely to have favored the company’s top line in the first quarter. A decrease in cash and spot markets net revenues is expected to have partially offset the upside. The Zacks Consensus Estimate for first-quarter revenues is pegged at $507.41 million, indicating an increase of 7.6% from the year-ago reported figure.
Data and access revenues are likely to have benefited from an increase in access and capacity fees and proprietary market data fees.
Market data revenues are expected to have been aided by higher proprietary market data fees in the Options segment, along with increased proprietary market data fees attributable to Cboe Canada.
Access and capacity fees are likely to have been aided by higher physical port fees in the Options, North American Equities, and Europe and Asia Pacific segments and increased logical port fees in the Options, North American Equities, and Global FX segments, both driven by a rise in subscribers and pricing.
The Zacks Consensus Estimate for first-quarter market data fees and access and capacity fees is pegged at $75 million and $91 million, indicating growth of 5.6% and 8.3%, respectively, from the prior-year quarter’s reported figure. Our estimate for market data revenues is pegged at $72.8 million, while the same for access and capacity fees is pegged at $90.1 million.
Cboe Global is likely to have benefited from strong proprietary products, VIX futures, VIX and SPX options. Also, the company expects to witness solid growth in multi-listed options trading.
CBOE estimates net interest expenses in the range of $10-$11 million in the quarter to be reported.
Continued share buybacks are expected to have aided the bottom line in the to-be-reported quarter.
The Zacks Consensus Estimate for first-quarter earnings per share is pegged at $2.04, indicating an increase of 7.3% from the prior-year quarter’s reported figure.
What the Zacks Model Says
Our proven model predicts 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.
Earnings ESP: Cboe Global has an Earnings ESP of +0.35%. This is because the Most Accurate Estimate of $2.05 is pegged higher than the Zacks Consensus Estimate of $2.04. 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 carries a Zacks Rank of 3 at present.
Other Stocks to Consider
Here are some other finance stocks you may want to consider, as our model shows that these, too, have the right combination of elements to post an earnings beat:
Horace Mann Educators Corporation (HMN - Free Report) has an Earnings ESP of +15.03% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for first-quarter 2024 earnings is pegged at 77 cents, indicating a year-over-year increase of 234.7%. You can see the complete list of today’s Zacks #1 Rank stocks here.
HMN’s earnings beat estimates in three of the last four reported quarters and matched in one.
Primerica, Inc. (PRI - Free Report) has an Earnings ESP of +0.46% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for first-quarter 2024 earnings is pegged at $4.11, indicating a year-over-year increase of 17.7%.
PRI’s earnings beat estimates in three of the last four reported quarters and missed in one.
Atlanticus Holdings Corporation (ATLC - Free Report) has an Earnings ESP of +21.43% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for first-quarter 2024 earnings is pegged at 98 cents, indicating a year-over-year decrease of 9.2%.
ATLC’s earnings beat estimates in three of the last four reported quarters and missed in one.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.