Zacks: Brokerages Anticipate MarketAxess Holdings, Inc. (MKTX) Will Announce Quarterly Sales of $96.75 Million
Wall Street analysts expect MarketAxess Holdings, Inc. (NASDAQ:MKTX) to post $96.75 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for MarketAxess Holdings’ earnings. The highest sales estimate is $96.80 million and the lowest is $96.70 million. MarketAxess Holdings reported sales of $96.64 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.1%. The company is expected to issue its next quarterly earnings results before the market opens on Wednesday, July 26th.
According to Zacks, analysts expect that MarketAxess Holdings will report full year sales of $96.75 million for the current financial year, with estimates ranging from $405.30 million to $417.70 million. For the next financial year, analysts anticipate that the firm will post sales of $480.90 million per share, with estimates ranging from $471.10 million to $490.70 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover MarketAxess Holdings.
MarketAxess Holdings (NASDAQ:MKTX) last issued its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.16. The business had revenue of $103.90 million during the quarter, compared to analyst estimates of $102.52 million. MarketAxess Holdings had a net margin of 36.26% and a return on equity of 30.39%. The business’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 earnings per share.
MKTX has been the subject of several recent analyst reports. Zacks Investment Research lowered MarketAxess Holdings from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 28th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $190.00 price objective on shares of MarketAxess Holdings in a research note on Tuesday, April 4th. Finally, BidaskClub lowered MarketAxess Holdings from a “buy” rating to a “hold” rating in a research note 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 stock. The company currently has an average rating of “Buy” and an average price target of $189.83.
In related news, insider Kevin M. Mcpherson sold 9,286 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $201.35, for a total transaction of $1,869,736.10. Following the transaction, the insider now directly owns 90,929 shares of the company’s stock, valued at approximately $18,308,554.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard M. Mcvey sold 27,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $191.20, for a total value of $5,162,400.00. Following the transaction, the chief executive officer now directly owns 1,082,844 shares in the company, valued at $207,039,772.80. The disclosure for this sale can be found here. Insiders have sold a total of 62,112 shares of company stock worth $11,912,518 over the last three months. 4.51% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in MKTX. Copeland Capital Management LLC increased its stake in MarketAxess Holdings by 109.5% in the second quarter. Copeland Capital Management LLC now owns 67,368 shares of the financial services provider’s stock worth $13,548,000 after buying an additional 35,216 shares during the last quarter. Insight Capital Research & Management Inc. increased its stake in MarketAxess Holdings by 7.7% in the second quarter. Insight Capital Research & Management Inc. now owns 11,451 shares of the financial services provider’s stock worth $2,303,000 after buying an additional 821 shares during the last quarter. Hemenway Trust Co LLC increased its stake in MarketAxess Holdings by 98.0% in the second quarter. Hemenway Trust Co LLC now owns 2,806 shares of the financial services provider’s stock worth $564,000 after buying an additional 1,389 shares during the last quarter. Van Berkom & Associates Inc. increased its stake in MarketAxess Holdings by 0.4% in the second quarter. Van Berkom & Associates Inc. now owns 461,115 shares of the financial services provider’s stock worth $92,730,000 after buying an additional 1,790 shares during the last quarter. Finally, State Treasurer State of Michigan increased its stake in MarketAxess Holdings by 1.3% in the second quarter. State Treasurer State of Michigan now owns 15,500 shares of the financial services provider’s stock worth $3,117,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.
MarketAxess Holdings (NASDAQ MKTX) traded up 0.12% during mid-day trading on Friday, reaching $194.92. 165,805 shares of the company’s stock traded hands. MarketAxess Holdings has a 12 month low of $145.10 and a 12 month high of $211.06. The stock has a market capitalization of $7.32 billion, a PE ratio of 52.94 and a beta of 0.70. The firm’s 50-day moving average price is $198.56 and its 200 day moving average price is $187.25.
MarketAxess Holdings Company Profile
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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