Zacks: Analysts Anticipate MarketAxess Holdings Inc. (NASDAQ:MKTX) to Announce $1.59 Earnings Per Share

Wall Street brokerages expect MarketAxess Holdings Inc. (NASDAQ:MKTX) to post $1.59 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have issued estimates for MarketAxess’ earnings, with the lowest EPS estimate coming in at $1.42 and the highest estimate coming in at $1.67. MarketAxess posted earnings per share of $1.78 in the same quarter last year, which would indicate a negative year over year growth rate of 10.7%. The business is expected to issue its next earnings results on Tuesday, October 26th.

According to Zacks, analysts expect that MarketAxess will report full year earnings of $7.34 per share for the current fiscal year, with EPS estimates ranging from $7.10 to $7.53. For the next financial year, analysts forecast that the business will report earnings of $8.64 per share, with EPS estimates ranging from $8.21 to $9.15. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that cover MarketAxess.

MarketAxess (NASDAQ:MKTX) last posted its earnings results on Tuesday, July 20th. The financial services provider reported $1.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.08. MarketAxess had a net margin of 40.79% and a return on equity of 29.87%. The company had revenue of $176.30 million for the quarter, compared to analyst estimates of $177.56 million. During the same period last year, the business posted $2.20 earnings per share. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year.

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their price target on MarketAxess from $430.00 to $427.00 and set a “hold” rating on the stock in a research note on Thursday, July 22nd. Rosenblatt Securities dropped their price objective on MarketAxess from $625.00 to $569.00 and set a “buy” rating on the stock in a report on Thursday, June 3rd. Morgan Stanley lowered their target price on MarketAxess from $470.00 to $459.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 15th. Piper Sandler lowered their price target on MarketAxess from $483.00 to $475.00 and set a “neutral” rating on the stock in a report on Wednesday, July 7th. Finally, Raymond James dropped their target price on MarketAxess from $580.00 to $530.00 and set an “outperform” rating on the stock in a report on Wednesday, July 7th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $532.00.

MKTX traded up $0.66 during trading on Tuesday, hitting $417.88. 11,861 shares of the company’s stock were exchanged, compared to its average volume of 257,279. The business’s 50 day moving average is $461.04 and its two-hundred day moving average is $473.16. MarketAxess has a fifty-two week low of $415.41 and a fifty-two week high of $606.45. The stock has a market cap of $15.87 billion, a P/E ratio of 55.22 and a beta of 0.36.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 18th. Stockholders of record on Wednesday, August 4th were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Tuesday, August 3rd. MarketAxess’s payout ratio is 33.63%.

In other MarketAxess news, CEO Richard M. Mcvey sold 12,117 shares of the company’s stock in a transaction dated Monday, August 9th. The shares were sold at an average price of $484.74, for a total transaction of $5,873,594.58. Following the sale, the chief executive officer now directly owns 772,739 shares of the company’s stock, valued at $374,577,502.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Scott Pintoff sold 250 shares of the stock in a transaction on Monday, August 9th. The stock was sold at an average price of $487.05, for a total value of $121,762.50. Following the completion of the sale, the general counsel now directly owns 5,973 shares in the company, valued at $2,909,149.65. The disclosure for this sale can be found here. Insiders sold 17,902 shares of company stock valued at $8,631,608 over the last ninety days. Insiders own 2.19% of the company’s stock.

Several large investors have recently modified their holdings of the company. Lloyd Advisory Services LLC. boosted its position in shares of MarketAxess by 50.0% in the 2nd quarter. Lloyd Advisory Services LLC. now owns 72 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 24 shares during the period. Johnson Investment Counsel Inc. raised its position in MarketAxess by 3.8% in the second quarter. Johnson Investment Counsel Inc. now owns 657 shares of the financial services provider’s stock valued at $305,000 after purchasing an additional 24 shares during the period. Quadrant Capital Group LLC raised its position in MarketAxess by 9.7% in the first quarter. Quadrant Capital Group LLC now owns 294 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 26 shares during the period. HBK Sorce Advisory LLC raised its position in shares of MarketAxess by 5.1% during the 1st quarter. HBK Sorce Advisory LLC now owns 535 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 26 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in MarketAxess by 1.2% in the first quarter. Nordea Investment Management AB now owns 2,180 shares of the financial services provider’s stock valued at $1,093,000 after buying an additional 26 shares during the last quarter. 94.39% of the stock is currently owned by hedge funds and other institutional investors.

About MarketAxess

MarketAxess Holdings, Inc operates as an electronic trading platform that allows investment industry professionals to trade corporate bonds and other types of fixed-income instruments. It also provides data and analytical tools that help its clients to make trading decisions and facilitate the trading process by electronically communicating order information between trading counterparties.

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Earnings History and Estimates for MarketAxess (NASDAQ:MKTX)

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