MarketAxess Holdings, Inc. (MKTX) Expected to Post Quarterly Sales of $99.25 Million
Wall Street analysts expect MarketAxess Holdings, Inc. (NASDAQ:MKTX) to report sales of $99.25 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for MarketAxess Holdings’ earnings. The highest sales estimate is $99.50 million and the lowest is $99.00 million. MarketAxess Holdings reported sales of $90.27 million in the same quarter last year, which indicates a positive year over year growth rate of 9.9%. The company is expected to issue its next earnings results on Wednesday, October 25th.
On average, analysts expect that MarketAxess Holdings will report full year sales of $99.25 million for the current year, with estimates ranging from $402.20 million to $407.60 million. For the next fiscal year, analysts expect that the firm will post sales of $473.80 million per share, with estimates ranging from $471.30 million to $476.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow MarketAxess Holdings.
MarketAxess Holdings (NASDAQ:MKTX) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.08. MarketAxess Holdings had a return on equity of 30.38% and a net margin of 37.46%. The business had revenue of $97.31 million during the quarter, compared to analyst estimates of $96.42 million. During the same period in the previous year, the firm earned $0.88 EPS. MarketAxess Holdings’s quarterly revenue was up .7% compared to the same quarter last year.
A number of equities research analysts have weighed in on MKTX shares. BidaskClub upgraded MarketAxess Holdings from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $210.00 target price on shares of MarketAxess Holdings in a report on Friday, July 14th. Zacks Investment Research downgraded MarketAxess Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, Raymond James Financial, Inc. lifted their target price on MarketAxess Holdings from $216.00 to $219.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. MarketAxess Holdings presently has an average rating of “Buy” and an average price target of $197.17.
In related news, CEO Richard M. Mcvey sold 20,000 shares of MarketAxess Holdings stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $198.63, for a total transaction of $3,972,600.00. Following the transaction, the chief executive officer now owns 1,108,142 shares of the company’s stock, valued at $220,110,245.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.51% of the company’s stock.
Several large investors have recently made changes to their positions in MKTX. Canada Pension Plan Investment Board boosted its position in shares of MarketAxess Holdings by 185.0% during the first quarter. Canada Pension Plan Investment Board now owns 5,700 shares of the financial services provider’s stock valued at $1,069,000 after buying an additional 3,700 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of MarketAxess Holdings by 5.7% during the first quarter. Bank of New York Mellon Corp now owns 420,714 shares of the financial services provider’s stock valued at $78,881,000 after buying an additional 22,508 shares during the last quarter. Suntrust Banks Inc. boosted its position in shares of MarketAxess Holdings by 2.1% during the first quarter. Suntrust Banks Inc. now owns 4,302 shares of the financial services provider’s stock valued at $806,000 after buying an additional 89 shares during the last quarter. Swiss National Bank boosted its position in shares of MarketAxess Holdings by 0.3% during the first quarter. Swiss National Bank now owns 62,106 shares of the financial services provider’s stock valued at $11,644,000 after buying an additional 200 shares during the last quarter. Finally, World Asset Management Inc boosted its position in shares of MarketAxess Holdings by 15.9% during the first quarter. World Asset Management Inc now owns 2,637 shares of the financial services provider’s stock valued at $494,000 after buying an additional 361 shares during the last quarter. 91.13% of the stock is currently owned by institutional investors.
MarketAxess Holdings (NASDAQ:MKTX) opened at 179.18 on Friday. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 47.13 and a beta of 0.70. MarketAxess Holdings has a 12 month low of $145.10 and a 12 month high of $211.06. The company has a 50 day moving average price of $191.70 and a 200 day moving average price of $191.96.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $1.32 dividend on an annualized basis and a yield of 0.74%. MarketAxess Holdings’s dividend payout ratio (DPR) is presently 34.65%.
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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