Wall Street analysts expect that MarketAxess Holdings Inc. (NASDAQ:MKTX) will report $106.50 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for MarketAxess’ earnings, with estimates ranging from $106.40 million to $106.60 million. MarketAxess reported sales of $97.31 million during the same quarter last year, which indicates a positive year over year growth rate of 9.4%. The company is scheduled to report its next earnings results before the market opens on Wednesday, July 25th.
On average, analysts expect that MarketAxess will report full-year sales of $439.75 million for the current year, with estimates ranging from $436.50 million to $443.00 million. For the next financial year, analysts expect that the business will report sales of $503.40 million per share, with estimates ranging from $487.40 million to $519.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for MarketAxess.
MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Wednesday, April 25th. The financial services provider reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.05. MarketAxess had a return on equity of 29.82% and a net margin of 37.61%. The firm had revenue of $114.71 million for the quarter, compared to analyst estimates of $114.45 million. During the same quarter in the previous year, the company posted $1.11 EPS. The business’s revenue was up 11.4% on a year-over-year basis.
A number of research firms have commented on MKTX. BidaskClub lowered MarketAxess from a “buy” rating to a “hold” rating in a research report on Wednesday, April 4th. Zacks Investment Research lowered MarketAxess from a “hold” rating to a “sell” rating in a research report on Thursday, April 5th. Keefe, Bruyette & Woods lowered MarketAxess from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 12th. ValuEngine lowered MarketAxess from a “buy” rating to a “hold” rating in a research report on Wednesday, June 6th. Finally, Sandler O’Neill reiterated a “hold” rating and issued a $215.00 price target on shares of MarketAxess in a research report on Wednesday, April 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. MarketAxess presently has a consensus rating of “Hold” and an average target price of $214.50.
In related news, Director David G. Gomach sold 7,553 shares of the company’s stock in a transaction dated Friday, May 18th. The stock was sold at an average price of $204.90, for a total transaction of $1,547,609.70. Following the sale, the director now owns 259 shares in the company, valued at approximately $53,069.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard M. Mcvey sold 35,000 shares of the company’s stock in a transaction dated Wednesday, May 9th. The shares were sold at an average price of $203.22, for a total value of $7,112,700.00. The disclosure for this sale can be found here. 3.52% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Ellington Management Group LLC bought a new stake in shares of MarketAxess during the 4th quarter valued at about $323,000. Profund Advisors LLC boosted its position in shares of MarketAxess by 7.9% during the 4th quarter. Profund Advisors LLC now owns 4,762 shares of the financial services provider’s stock valued at $961,000 after purchasing an additional 350 shares in the last quarter. MetLife Investment Advisors LLC bought a new stake in shares of MarketAxess during the 4th quarter valued at about $4,798,000. Schwab Charles Investment Management Inc. boosted its position in shares of MarketAxess by 6.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 141,875 shares of the financial services provider’s stock valued at $30,850,000 after purchasing an additional 8,059 shares in the last quarter. Finally, M&T Bank Corp boosted its position in shares of MarketAxess by 25.4% during the 1st quarter. M&T Bank Corp now owns 2,754 shares of the financial services provider’s stock valued at $598,000 after purchasing an additional 557 shares in the last quarter. Institutional investors own 99.91% of the company’s stock.
Shares of MarketAxess traded down $0.85, reaching $208.91, during trading on Thursday, according to MarketBeat. The company had a trading volume of 120,300 shares, compared to its average volume of 219,572. MarketAxess has a 12 month low of $171.45 and a 12 month high of $229.84. The firm has a market capitalization of $7.73 billion, a PE ratio of 53.57 and a beta of 0.62.
MarketAxess Company Profile
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 the access to global liquidity in U.S.
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