MarketAxess Holdings Inc. Expected to Earn FY2016 Earnings of $3.23 Per Share (MKTX)
MarketAxess Holdings Inc. (NASDAQ:MKTX) – Equities researchers at William Blair boosted their FY2016 EPS estimates for shares of MarketAxess Holdings in a note issued to investors on Sunday. William Blair analyst C. Shutler now expects that the firm will post earnings of $3.23 per share for the year, up from their previous forecast of $3.21. William Blair has a “Market Perform” rating on the stock. William Blair also issued estimates for MarketAxess Holdings’ Q4 2016 earnings at $0.81 EPS.
Several other equities analysts have also recently issued reports on MKTX. Zacks Investment Research cut MarketAxess Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, October 6th. Credit Suisse Group AG reissued a “sell” rating and set a $106.00 target price on shares of MarketAxess Holdings in a research note on Friday, July 29th. Keefe, Bruyette & Woods boosted their target price on MarketAxess Holdings from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, July 29th. Raymond James Financial Inc. cut MarketAxess Holdings from an “outperform” rating to a “market perform” rating in a research note on Friday, July 15th. Finally, Citigroup Inc. cut MarketAxess Holdings to a “market perform” rating in a research note on Friday, July 15th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $140.75.
MarketAxess Holdings (NASDAQ:MKTX) traded down 0.59% during midday trading on Tuesday, reaching $157.88. The company had a trading volume of 88,615 shares. MarketAxess Holdings has a 12-month low of $86.19 and a 12-month high of $178.21. The stock has a market capitalization of $5.94 billion, a PE ratio of 54.44 and a beta of 0.65. The company has a 50-day moving average of $167.93 and a 200-day moving average of $147.53.
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MarketAxess Holdings (NASDAQ:MKTX) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.03. The business earned $96.60 million during the quarter, compared to analyst estimates of $93.98 million. MarketAxess Holdings had a return on equity of 27.14% and a net margin of 32.52%. MarketAxess Holdings’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS.
Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC bought a new stake in MarketAxess Holdings during the second quarter valued at approximately $103,000. Cantab Capital Partners LLP bought a new stake in MarketAxess Holdings during the second quarter valued at approximately $116,000. Daiwa Securities Group Inc. bought a new stake in MarketAxess Holdings during the second quarter valued at approximately $160,000. Bank of Montreal Can bought a new stake in MarketAxess Holdings during the second quarter valued at approximately $177,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in MarketAxess Holdings by 16.3% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,278 shares of the company’s stock valued at $186,000 after buying an additional 179 shares during the period. Institutional investors own 92.37% of the company’s stock.
In related news, CEO Richard M. Mcvey sold 30,000 shares of MarketAxess Holdings stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $162.33, for a total transaction of $4,869,900.00. Following the sale, the chief executive officer now directly owns 1,091,457 shares in the company, valued at $177,176,214.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Themelis sold 6,200 shares of MarketAxess Holdings stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $165.40, for a total value of $1,025,480.00. Following the sale, the insider now owns 70,799 shares in the company, valued at $11,710,154.60. The disclosure for this sale can be found here. Corporate insiders own 4.51% of the company’s stock.
MarketAxess Holdings Company Profile
MarketAxess Holdings Inc (MarketAxess) is an electronic trading platform. The Company operates as an electronic multi-party platform for the trading of fixed-income securities and provides related data, analytics, compliance tools and post-trade services. The Company’s multi-dealer trading platform allows its institutional investor clients to request bids or offers from its broker-dealer clients and execute trades with the broker-dealer of their choice from among those that choose to respond.
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