Q3 2017 EPS Estimates for MarketAxess Holdings, Inc. Cut by Analyst (MKTX)
MarketAxess Holdings, Inc. (NASDAQ:MKTX) – Analysts at William Blair reduced their Q3 2017 earnings per share estimates for MarketAxess Holdings in a report released on Monday. William Blair analyst C. Shutler now expects that the financial services provider will earn $0.90 per share for the quarter, down from their prior forecast of $0.94. William Blair also issued estimates for MarketAxess Holdings’ FY2017 earnings at $4.06 EPS, Q1 2018 earnings at $1.31 EPS, Q2 2018 earnings at $1.17 EPS, Q3 2018 earnings at $1.09 EPS, Q4 2018 earnings at $1.21 EPS and FY2018 earnings at $4.79 EPS.
MarketAxess Holdings (NASDAQ:MKTX) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.08. The business had revenue of $97.31 million for the quarter, compared to analysts’ expectations of $96.42 million. MarketAxess Holdings had a net margin of 37.46% and a return on equity of 30.38%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 earnings per share.
A number of other analysts have also issued reports on the company. Zacks Investment Research lowered MarketAxess Holdings from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. BidaskClub lowered MarketAxess Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Raymond James Financial, Inc. lifted their price objective on MarketAxess Holdings from $216.00 to $219.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $210.00 price objective on shares of MarketAxess Holdings in a report on Friday, July 14th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $192.40.
Shares of MarketAxess Holdings (MKTX) opened at 189.37 on Tuesday. The firm has a market cap of $7.11 billion, a PE ratio of 49.81 and a beta of 0.71. The stock’s 50 day moving average is $184.43 and its 200 day moving average is $190.97. MarketAxess Holdings has a 12 month low of $145.10 and a 12 month high of $211.06.
In other 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 sale, the chief executive officer now owns 1,108,142 shares of the company’s stock, valued at approximately $220,110,245.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.02% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in MKTX. UBS Asset Management Americas Inc. grew its holdings in shares of MarketAxess Holdings by 18.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 21,216 shares of the financial services provider’s stock worth $3,978,000 after purchasing an additional 3,233 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of MarketAxess Holdings by 5.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 35,877 shares of the financial services provider’s stock worth $6,727,000 after purchasing an additional 1,982 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of MarketAxess Holdings by 45.1% during the 1st quarter. Prudential Financial Inc. now owns 32,044 shares of the financial services provider’s stock worth $6,008,000 after purchasing an additional 9,960 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of MarketAxess Holdings by 12.9% during the 1st quarter. SG Americas Securities LLC now owns 6,310 shares of the financial services provider’s stock worth $1,183,000 after purchasing an additional 721 shares in the last quarter. Finally, United Services Automobile Association grew its holdings in shares of MarketAxess Holdings by 14.9% during the 1st quarter. United Services Automobile Association now owns 24,580 shares of the financial services provider’s stock worth $4,609,000 after purchasing an additional 3,180 shares in the last quarter. 91.20% of the stock is currently owned by institutional investors.
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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