Wall Street brokerages expect MarketAxess Holdings Inc. (NASDAQ:MKTX) to announce sales of $98.70 million for the current quarter, Zacks reports. Two analysts have provided estimates for MarketAxess’ earnings. MarketAxess reported sales of $94.44 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.5%. The firm is scheduled to issue its next earnings results before the market opens on Wednesday, January 31st.
On average, analysts expect that MarketAxess will report full-year sales of $98.70 million for the current financial year. For the next fiscal year, analysts forecast that the business will report sales of $467.40 million per share, with estimates ranging from $454.50 million to $480.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow MarketAxess.
MarketAxess (NASDAQ:MKTX) last released its earnings results on Wednesday, October 25th. The financial services provider reported $0.90 earnings per share for the quarter, meeting the consensus estimate of $0.90. The company had revenue of $96.70 million during the quarter, compared to the consensus estimate of $96.35 million. MarketAxess had a return on equity of 30.12% and a net margin of 37.67%. MarketAxess’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 EPS.
A number of equities analysts have recently commented on MKTX shares. Zacks Investment Research raised MarketAxess from a “hold” rating to a “strong-buy” rating and set a $238.00 price objective for the company in a research report on Monday, January 8th. Rosenblatt Securities started coverage on MarketAxess in a research report on Thursday, December 14th. They set a “neutral” rating and a $190.00 price objective for the company. Goldman Sachs Group downgraded MarketAxess from a “buy” rating to a “neutral” rating and set a $210.00 price objective for the company. in a research report on Monday, January 8th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $215.00 price objective on shares of MarketAxess in a research report on Friday, December 22nd. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. MarketAxess presently has a consensus rating of “Buy” and an average target price of $202.86.
MarketAxess (MKTX) opened at $208.39 on Friday. MarketAxess has a 52-week low of $154.03 and a 52-week high of $211.06. The firm has a market capitalization of $7,802.43, a PE ratio of 53.43 and a beta of 0.70.
MarketAxess declared that its Board of Directors has approved a share buyback program on Wednesday, October 25th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
In related news, Director Stephen P. Casper sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $195.84, for a total transaction of $391,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard M. Mcvey sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $178.29, for a total value of $6,240,150.00. Following the sale, the chief executive officer now owns 1,113,076 shares of the company’s stock, valued at approximately $198,450,320.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,225 shares of company stock valued at $8,955,630. Corporate insiders own 4.02% of the company’s stock.
A number of hedge funds have recently bought and sold shares of MKTX. Teachers Advisors LLC lifted its stake in MarketAxess by 1.4% during the second quarter. Teachers Advisors LLC now owns 38,224 shares of the financial services provider’s stock worth $7,687,000 after purchasing an additional 538 shares during the last quarter. BlackRock Inc. lifted its stake in MarketAxess by 2.1% during the second quarter. BlackRock Inc. now owns 3,063,588 shares of the financial services provider’s stock worth $616,087,000 after purchasing an additional 62,914 shares during the last quarter. Thrivent Financial For Lutherans lifted its stake in MarketAxess by 1.5% during the second quarter. Thrivent Financial For Lutherans now owns 36,660 shares of the financial services provider’s stock worth $7,372,000 after purchasing an additional 530 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in MarketAxess by 21.0% during the second quarter. UBS Asset Management Americas Inc. now owns 25,661 shares of the financial services provider’s stock worth $5,160,000 after purchasing an additional 4,445 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in MarketAxess by 24.5% during the second quarter. Citigroup Inc. now owns 14,590 shares of the financial services provider’s stock worth $2,933,000 after purchasing an additional 2,867 shares during the last quarter. Hedge funds and other institutional investors own 91.65% of the company’s stock.
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MarketAxess Company Profile
MarketAxess Holdings Inc operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments using its trading technology. Institutional investor and broker-dealer firms are users of trading platform, accessing global liquidity in the United States corporate bonds, emerging markets and high-yield bonds, European bonds, the United States agency bonds, municipal bonds, credit default swaps and other fixed-income securities.
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