Wall Street is expecting higher profit for CME Group when the company reports its first quarter results on Thursday, May 1, 2014. The consensus estimate is calling for profit of 83 cents a share, a rise from 73 cents per share a year ago.
The consensus estimate is down from three months ago when it was 85 cents, but is unchanged over the past month. For the fiscal year, analysts are projecting earnings of $3.57 per share. Analysts project revenue to fall 49% year-over-year to $368.1 million for the quarter, after being $718.6 million a year ago. For the year, revenue is projected to come in at $3.20 billion.
Over the last four quarters, the company saw a year-over-year drop in revenue by an average of 1%. The biggest fall was in the first quarter, when it fell 7% from the year-earlier quarter.
The decrease in profit in the fourth quarter came after net income rose in the previous quarter. In the fourth quarter, net income fell 18% to $193.1 million. In the third quarter, net income rose 9%.
The majority of analysts (58%) rate CME as a buy. This compares favorably to the analyst ratings of five similar companies, which average 58% buys.
Earnings estimates provided by Zacks.
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