MarketAxess Holdings, Inc. (NASDAQ:MKTX) Expected to Announce Earnings of $0.92 Per Share
Wall Street brokerages predict that MarketAxess Holdings, Inc. (NASDAQ:MKTX) will post earnings per share of $0.92 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for MarketAxess Holdings’ earnings. MarketAxess Holdings reported earnings of $0.88 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.5%. The business is expected to announce its next quarterly earnings report before the market opens on Wednesday, July 26th.
According to Zacks, analysts expect that MarketAxess Holdings will report full year earnings of $4.12 per share for the current fiscal year, with EPS estimates ranging from $4.01 to $4.23. For the next financial year, analysts expect that the business will report earnings of $4.93 per share, with EPS estimates ranging from $4.85 to $5.00. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover MarketAxess Holdings.
MarketAxess Holdings (NASDAQ:MKTX) last released its earnings results on Wednesday, April 26th. The financial services provider reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.16. The business had revenue of $103.90 million during the quarter, compared to the consensus estimate of $102.52 million. MarketAxess Holdings had a net margin of 36.26% and a return on equity of 30.39%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 EPS.
MKTX has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded MarketAxess Holdings from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 28th. Keefe, Bruyette & Woods restated a “buy” rating and set a $190.00 target price on shares of MarketAxess Holdings in a report on Tuesday, April 4th. Finally, BidaskClub downgraded MarketAxess Holdings from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $189.83.
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In related news, insider Kevin M. Mcpherson sold 9,286 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $201.35, for a total value of $1,869,736.10. Following the sale, the insider now directly owns 90,929 shares of the company’s stock, valued at $18,308,554.15. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Richard M. Mcvey sold 20,000 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $185.70, for a total value of $3,714,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,080,170 shares in the company, valued at $200,587,569. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,112 shares of company stock worth $11,912,518. 4.51% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the company. American International Group Inc. boosted its position in shares of MarketAxess Holdings by 3.8% in the first quarter. American International Group Inc. now owns 75,058 shares of the financial services provider’s stock worth $14,073,000 after buying an additional 2,781 shares in the last quarter. Swiss National Bank boosted its position in shares of MarketAxess Holdings by 0.3% in the first quarter. Swiss National Bank now owns 62,106 shares of the financial services provider’s stock worth $11,644,000 after buying an additional 200 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of MarketAxess Holdings by 185.0% in the first quarter. Canada Pension Plan Investment Board now owns 5,700 shares of the financial services provider’s stock worth $1,069,000 after buying an additional 3,700 shares in the last quarter. Old Mutual Global Investors UK Ltd. purchased a new position in shares of MarketAxess Holdings during the first quarter worth about $327,000. Finally, Quadrature Capital Ltd purchased a new position in shares of MarketAxess Holdings during the fourth quarter worth about $855,000. 89.82% of the stock is currently owned by institutional investors.
Shares of MarketAxess Holdings (NASDAQ:MKTX) opened at 192.59 on Wednesday. The firm’s 50-day moving average is $198.35 and its 200-day moving average is $187.15. MarketAxess Holdings has a 52-week low of $145.10 and a 52-week high of $211.06. The firm has a market cap of $7.23 billion, a P/E ratio of 52.31 and a beta of 0.70.
About MarketAxess Holdings
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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