MarketAxess Holdings Inc. (NASDAQ:MKTX) announced a quarterly dividend on Wednesday, July 22nd, RTT News reports. Shareholders of record on Wednesday, August 5th will be paid a dividend of 0.60 per share by the financial services provider on Wednesday, August 19th. This represents a $2.40 annualized dividend and a yield of 0.46%. The ex-dividend date is Tuesday, August 4th.
MarketAxess has raised its dividend by an average of 96.2% annually over the last three years and has raised its dividend annually for the last 9 consecutive years. MarketAxess has a payout ratio of 33.6% meaning its dividend is sufficiently covered by earnings. Analysts expect MarketAxess to earn $7.91 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 30.3%.
Shares of NASDAQ MKTX opened at $516.70 on Friday. MarketAxess has a 1-year low of $275.49 and a 1-year high of $561.68. The company has a debt-to-equity ratio of 0.11, a current ratio of 7.42 and a quick ratio of 7.53. The business’s fifty day moving average price is $514.01 and its two-hundred day moving average price is $426.10. The firm has a market capitalization of $19.62 billion, a PE ratio of 74.88 and a beta of 0.63.
MarketAxess (NASDAQ:MKTX) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $2.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.12 by $0.08. MarketAxess had a return on equity of 33.75% and a net margin of 42.74%. The firm had revenue of $184.80 million for the quarter, compared to analyst estimates of $185.16 million. During the same period last year, the company earned $1.27 earnings per share. Equities research analysts expect that MarketAxess will post 7.55 earnings per share for the current fiscal year.
Several equities research analysts have weighed in on MKTX shares. Deutsche Bank increased their target price on MarketAxess from $535.00 to $555.00 and gave the stock a “hold” rating in a research report on Thursday, July 9th. Credit Suisse Group increased their target price on MarketAxess from $410.00 to $448.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 9th. BidaskClub cut MarketAxess from a “buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Rosenblatt Securities increased their price target on MarketAxess from $455.00 to $465.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. Finally, Piper Sandler increased their price target on MarketAxess from $520.00 to $535.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $403.00.
In related news, insider Christophe Pierre Danie Roupie sold 1,920 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $457.00, for a total transaction of $877,440.00. Following the completion of the transaction, the insider now owns 10,914 shares of the company’s stock, valued at $4,987,698. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard M. Mcvey sold 25,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $483.62, for a total value of $12,090,500.00. Following the transaction, the chief executive officer now directly owns 952,077 shares of the company’s stock, valued at approximately $460,443,478.74. The disclosure for this sale can be found here. Insiders have sold 29,170 shares of company stock valued at $14,047,103 in the last ninety days. Company insiders own 3.05% of the company’s stock.
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.
Recommended Story: What is Forex?
Receive News & Ratings for MarketAxess Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MarketAxess and related companies with MarketBeat.com's FREE daily email newsletter.