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CME Group’s Profit Plummets 41%, but Still Beats View; Revenue Misses (CME)

Posted
4/26/2012 10:58:00 AM
By: Dividend.com
Referenced Stocks:CME

Futures exchange operator CME Group Inc ( CME ) on Thursday posted a sharp decline in first quarter earnings, hurt by higher costs and lower revenue.

The Chicago-based company reported first quarter net income of $266.6 million, or $4.02 per share, compared with $456.6 million, or $6.81 per share, in the year-ago period.

Revenue fell almost 7% from last year to $774.6 million.

On average, Wall Street analysts expected a smaller profit of $4 per share, albeit on higher revenue of $778.91 million.

CME Group shares fell $4.28, or -1.6%, in morning trading Thursday.

The Bottom Line
Shares of CME Group ( CME ) have a 3.27% dividend yield, based on last night's closing stock price of $273.14. The stock has technical support in the $260 price area. If the shares can firm up, we see overhead resistance around the $280-$287 price levels.

CME Group Inc ( CME ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .