Wall Street brokerages expect MarketAxess Holdings Inc. (NASDAQ:MKTX) to post earnings of $1.22 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for MarketAxess’ earnings. The highest EPS estimate is $1.31 and the lowest is $1.13. MarketAxess reported earnings per share of $1.02 during the same quarter last year, which would indicate a positive year over year growth rate of 19.6%. The firm is scheduled to report its next earnings report on Wednesday, October 23rd.
On average, analysts expect that MarketAxess will report full-year earnings of $5.20 per share for the current fiscal year, with EPS estimates ranging from $5.04 to $5.45. For the next financial year, analysts forecast that the business will report earnings of $5.94 per share, with EPS estimates ranging from $5.79 to $6.03. Zacks’ EPS calculations are an average based on a survey of analysts that cover MarketAxess.
MarketAxess (NASDAQ:MKTX) last released its earnings results on Wednesday, July 24th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.03). The business had revenue of $125.50 million for the quarter, compared to analyst estimates of $126.06 million. MarketAxess had a net margin of 39.89% and a return on equity of 29.85%. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.07 earnings per share.
A number of analysts have recently commented on MKTX shares. ValuEngine cut MarketAxess from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Buckingham Research cut MarketAxess from a “neutral” rating to an “underperform” rating and set a $245.00 price target for the company. in a research note on Wednesday, June 12th. Deutsche Bank upped their price target on MarketAxess from $332.00 to $336.00 and gave the company 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 company an “equal weight” rating in a research note on Friday, June 28th. Finally, Argus started coverage on MarketAxess in a research note on Thursday, August 29th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. MarketAxess presently has an average rating of “Hold” and an average target price of $277.20.
In related news, Director Richard Leon Prager acquired 1,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $358.49 per share, with a total value of $358,490.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Richard M. Mcvey sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $350.07, for a total value of $7,001,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,044,249 shares of the company’s stock, valued at approximately $365,560,247.43. The disclosure for this sale can be found here. Insiders have sold a total of 23,750 shares of company stock valued at $8,359,543 over the last ninety days. Company insiders own 3.28% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MKTX. Steward Partners Investment Advisory LLC acquired a new stake in MarketAxess during the 2nd quarter valued at $36,000. First Hawaiian Bank increased its position in shares of MarketAxess by 6.9% in the second quarter. First Hawaiian Bank now owns 1,365 shares of the financial services provider’s stock worth $439,000 after purchasing an additional 88 shares during the period. Strs Ohio bought a new position in MarketAxess in the second quarter valued at about $335,000. Westpac Banking Corp bought a new position in MarketAxess in the first quarter valued at about $5,542,000. Finally, Evolution Wealth Advisors LLC bought a new position in MarketAxess in the second quarter valued at about $78,000. 99.91% of the stock is owned by institutional investors.
Shares of MKTX stock opened at $341.75 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.05 and a quick ratio of 10.05. The stock has a market cap of $12.92 billion, a PE ratio of 74.78 and a beta of 0.17. The stock has a 50-day moving average of $370.45 and a 200-day moving average of $307.54. MarketAxess has a one year low of $172.09 and a one year high of $421.45.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $2.04 annualized dividend and a dividend yield of 0.60%. MarketAxess’s dividend payout ratio is currently 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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