Analysts expect MarketAxess Holdings Inc. (NASDAQ:MKTX) to post $115.95 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for MarketAxess’ earnings, with estimates ranging from $113.00 million to $118.90 million. MarketAxess reported sales of $103.89 million in the same quarter last year, which would suggest a positive year over year growth rate of 11.6%. The company is scheduled to announce its next earnings report on Wednesday, April 25th.
On average, analysts expect that MarketAxess will report full-year sales of $115.95 million for the current year, with estimates ranging from $455.00 million to $455.60 million. For the next financial year, analysts anticipate that the business will post sales of $524.15 million per share, with estimates ranging from $511.70 million to $536.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow MarketAxess.
MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.01. The business had revenue of $99.57 million during the quarter, compared to analyst estimates of $98.70 million. MarketAxess had a net margin of 37.26% and a return on equity of 29.54%.
MKTX has been the subject of several analyst reports. BidaskClub raised shares of MarketAxess from a “buy” rating to a “strong-buy” rating in a research report on Friday. Zacks Investment Research lowered shares of MarketAxess from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 6th. Rosenblatt Securities initiated coverage on shares of MarketAxess in a research report on Thursday, December 14th. They set a “neutral” rating and a $190.00 price target for the company. UBS lowered shares of MarketAxess from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Finally, Goldman Sachs Group lowered shares of MarketAxess from a “buy” rating to a “neutral” rating and set a $210.00 price target for the company. in a research report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $214.40.
MarketAxess (MKTX) traded up $0.58 during mid-day trading on Tuesday, hitting $224.67. 137,134 shares of the company’s stock traded hands, compared to its average volume of 270,064. The stock has a market capitalization of $8,412.77, a price-to-earnings ratio of 57.33 and a beta of 0.57. MarketAxess has a 1-year low of $171.45 and a 1-year high of $227.06.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.75%. This is a positive change from MarketAxess’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, February 13th. MarketAxess’s dividend payout ratio is presently 43.19%.
In related news, CEO Richard M. Mcvey sold 35,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $190.61, for a total value of $6,671,350.00. Following the completion of the transaction, the chief executive officer now directly owns 1,115,767 shares of the company’s stock, valued at approximately $212,676,347.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David G. Gomach sold 4,225 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $197.98, for a total transaction of $836,465.50. Following the completion of the transaction, the director now directly owns 259 shares of the company’s stock, valued at $51,276.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,625 shares of company stock valued at $10,290,970. Insiders own 4.02% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Trexquant Investment LP purchased a new position in shares of MarketAxess in the 3rd quarter valued at approximately $594,000. Eagle Asset Management Inc. raised its position in shares of MarketAxess by 10.7% in the 4th quarter. Eagle Asset Management Inc. now owns 195,404 shares of the financial services provider’s stock valued at $39,306,000 after purchasing an additional 18,952 shares during the last quarter. Centaurus Financial Inc. purchased a new position in shares of MarketAxess in the 4th quarter valued at approximately $2,543,000. Canada Pension Plan Investment Board raised its position in shares of MarketAxess by 20.2% in the 3rd quarter. Canada Pension Plan Investment Board now owns 11,900 shares of the financial services provider’s stock valued at $2,196,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Jane Street Group LLC raised its position in shares of MarketAxess by 39.3% in the 3rd quarter. Jane Street Group LLC now owns 3,292 shares of the financial services provider’s stock valued at $607,000 after purchasing an additional 929 shares during the last quarter. 99.82% of the stock is owned by hedge funds and other institutional investors.
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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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