Brokerages Expect MarketAxess Holdings, Inc. (MKTX) Will Announce Quarterly Sales of $96.70 Million
Equities research analysts expect MarketAxess Holdings, Inc. (NASDAQ:MKTX) to post $96.70 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for MarketAxess Holdings’ earnings. MarketAxess Holdings reported sales of $90.27 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.1%. The business is expected to announce its next earnings report before the market opens on Wednesday, October 25th.
On average, analysts expect that MarketAxess Holdings will report full-year sales of $96.70 million for the current fiscal year, with estimates ranging from $397.10 million to $403.70 million. For the next year, analysts anticipate that the business will post sales of $468.85 million per share, with estimates ranging from $463.60 million to $474.10 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for 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, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.08. The firm had revenue of $97.31 million during the quarter, compared to the consensus estimate of $96.42 million. MarketAxess Holdings had a net margin of 37.46% and a return on equity of 30.38%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the business posted $0.88 earnings per share.
A number of research analysts have recently weighed in on the stock. BidaskClub downgraded shares of MarketAxess Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Raymond James Financial, Inc. increased their target price on shares of MarketAxess Holdings from $216.00 to $219.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Zacks Investment Research raised shares of MarketAxess Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $210.00 price objective on shares of MarketAxess Holdings in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $192.40.
Shares of MarketAxess Holdings (MKTX) opened at 190.26 on Monday. The firm’s 50-day moving average is $184.25 and its 200 day moving average is $191.19. The firm has a market capitalization of $7.14 billion, a P/E ratio of 50.04 and a beta of 0.71. MarketAxess Holdings has a 12 month low of $145.10 and a 12 month high of $211.06.
In other MarketAxess Holdings news, CEO Richard M. Mcvey sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $198.63, for a total value of $3,972,600.00. Following the sale, the chief executive officer now directly owns 1,108,142 shares in the company, valued at approximately $220,110,245.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.02% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in MarketAxess Holdings by 2.1% in the 2nd quarter. BlackRock Inc. now owns 3,063,588 shares of the financial services provider’s stock worth $616,087,000 after purchasing an additional 62,914 shares in the last quarter. Vanguard Group Inc. lifted its stake in MarketAxess Holdings by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 2,894,267 shares of the financial services provider’s stock worth $582,038,000 after purchasing an additional 38,702 shares in the last quarter. Baillie Gifford & Co. lifted its stake in MarketAxess Holdings by 5.1% in the 2nd quarter. Baillie Gifford & Co. now owns 2,752,949 shares of the financial services provider’s stock worth $553,618,000 after purchasing an additional 134,588 shares in the last quarter. State Street Corp lifted its stake in MarketAxess Holdings by 0.4% in the 2nd quarter. State Street Corp now owns 984,978 shares of the financial services provider’s stock worth $198,075,000 after purchasing an additional 4,168 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in MarketAxess Holdings by 8.4% in the 2nd quarter. Franklin Resources Inc. now owns 869,065 shares of the financial services provider’s stock worth $174,782,000 after purchasing an additional 67,254 shares in the last quarter. Institutional investors and hedge funds own 91.19% of the company’s stock.
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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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