Equities analysts expect MarketAxess Holdings Inc. (NASDAQ:MKTX) to report sales of $120.07 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for MarketAxess’ earnings, with estimates ranging from $114.74 million to $124.55 million. MarketAxess posted sales of $101.44 million during the same quarter last year, which suggests a positive year over year growth rate of 18.4%. The business is scheduled to report its next quarterly earnings results on Wednesday, October 23rd.
On average, analysts expect that MarketAxess will report full year sales of $496.34 million for the current year, with estimates ranging from $488.17 million to $512.58 million. For the next year, analysts expect that the company will post sales of $551.84 million, with estimates ranging from $544.32 million to $556.60 million. Zacks’ sales calculations are an average based on a survey of research firms that cover MarketAxess.
MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.03). The business had revenue of $125.50 million during the quarter, compared to the consensus estimate of $126.06 million. MarketAxess had a return on equity of 29.85% and a net margin of 39.89%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the firm earned $1.07 EPS.
MKTX has been the subject of a number of recent research reports. Deutsche Bank boosted their price objective on shares of MarketAxess from $332.00 to $336.00 and gave the stock a “hold” rating in a research note on Wednesday, August 14th. Barclays upped their price target on MarketAxess from $244.00 to $289.00 and gave the stock an “equal weight” rating in a research report on Friday, June 28th. BidaskClub downgraded MarketAxess from a “strong-buy” rating to a “buy” rating in a research report on Thursday. ValuEngine downgraded MarketAxess from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Argus assumed coverage on MarketAxess in a research report on Thursday, August 29th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. MarketAxess has an average rating of “Hold” and a consensus price target of $277.20.
In related news, Director Richard Leon Prager acquired 1,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were purchased at an average cost of $358.49 per share, with a total value of $358,490.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard M. Mcvey sold 20,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $350.07, for a total transaction of $7,001,400.00. Following the sale, the chief executive officer now directly owns 1,044,249 shares in the company, valued at $365,560,247.43. The disclosure for this sale can be found here. Insiders have sold 23,750 shares of company stock worth $8,359,543 over the last three months. Corporate insiders own 3.28% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in MKTX. JPMorgan Chase & Co. boosted its holdings in MarketAxess by 221.7% in the second quarter. JPMorgan Chase & Co. now owns 857,638 shares of the financial services provider’s stock valued at $271,304,000 after purchasing an additional 591,073 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in MarketAxess by 8.4% in the second quarter. Baillie Gifford & Co. now owns 4,375,906 shares of the financial services provider’s stock valued at $1,406,504,000 after purchasing an additional 339,211 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in MarketAxess in the second quarter valued at $56,479,000. Natixis boosted its holdings in MarketAxess by 91.8% in the second quarter. Natixis now owns 301,784 shares of the financial services provider’s stock valued at $96,999,000 after purchasing an additional 144,431 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in MarketAxess in the second quarter valued at $46,326,000. 99.91% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:MKTX opened at $341.75 on Tuesday. The company has a market capitalization of $12.92 billion, a price-to-earnings ratio of 74.78 and a beta of 0.17. MarketAxess has a 52 week low of $172.09 and a 52 week high of $421.45. The company has a quick ratio of 10.05, a current ratio of 10.05 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $370.45 and a 200 day moving average of $307.54.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date was Tuesday, August 6th. MarketAxess’s dividend payout ratio (DPR) is presently 44.64%.
MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments worldwide. It offers institutional investor and broker-dealer firms the access to global liquidity in U.S.
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