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CME Group’s Q3 Earnings Beat View on Higher Trading Volume (CME)

Posted: 11/1/2011 8:42:00 AM
Referenced Stocks: CME

Futures exchange operator CME Group Inc. ( CME ) on Tuesday posted a 29% uptick in third quarter earnings, as its clearing and transaction fee revenue rose sharply.

The Chicago-based company reported third quarter net income of $316.1 million, or $4.74 per share, up from $244.3 million, or $3.66 per share, in the year-ago period.

Revenue rose 19% from last year to $874 million.

On average, Wall Street analysts expected a smaller profit of $4.69 per share, albeit on slightly higher revenue of $875.55 million.

CME Group shares were unchanged in premarket trading Tuesday.

The Bottom Line
Shares of CME Group ( CME ) have a 2.03% dividend yield, based on last night's closing stock price of $275.56. The stock has technical support in the $250-$260 price area. If the shares can firm up, we see overhead resistance around the $280-$290 price levels.

CME Group Inc. ( CME ) is not recommended at this time, holding a 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 .