Equities analysts forecast that MarketAxess Holdings, Inc. (NASDAQ:MKTX) will announce $99.00 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for MarketAxess’ earnings, with the lowest sales estimate coming in at $95.20 million and the highest estimate coming in at $102.80 million. MarketAxess posted sales of $94.44 million during the same quarter last year, which would indicate a positive year over year growth rate of 4.8%. The company is scheduled to report its next quarterly earnings results on Wednesday, January 24th.
According to Zacks, analysts expect that MarketAxess will report full-year sales of $99.00 million for the current financial year, with estimates ranging from $393.20 million to $400.70 million. For the next fiscal year, analysts expect that the company will report sales of $463.65 million per share, with estimates ranging from $461.00 million to $466.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for MarketAxess.
MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.90 EPS for the quarter, meeting analysts’ consensus estimates of $0.90. The company had revenue of $96.70 million during the quarter, compared to analysts’ expectations of $96.35 million. MarketAxess had a return on equity of 30.12% and a net margin of 37.67%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business posted $0.82 earnings per share.
In related news, Director Stephen P. Casper sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $195.84, for a total transaction of $391,680.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Steinhardt sold 4,225 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $174.00, for a total value of $735,150.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,225 shares of company stock worth $8,955,630. 4.02% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. GQG Partners LLC acquired a new stake in MarketAxess during the second quarter worth about $127,000. Sciencast Management LP grew its holdings in MarketAxess by 14.4% in the second quarter. Sciencast Management LP now owns 1,226 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 154 shares during the period. First Republic Investment Management Inc. grew its holdings in MarketAxess by 30.8% in the third quarter. First Republic Investment Management Inc. now owns 1,373 shares of the financial services provider’s stock valued at $253,000 after purchasing an additional 323 shares during the period. D.A. Davidson & CO. grew its holdings in MarketAxess by 0.5% in the second quarter. D.A. Davidson & CO. now owns 1,380 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 7 shares during the period. Finally, Advisor Group Inc. grew its holdings in MarketAxess by 38.2% in the second quarter. Advisor Group Inc. now owns 1,469 shares of the financial services provider’s stock valued at $295,000 after purchasing an additional 406 shares during the period. 91.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MarketAxess (MKTX) traded up $5.60 during mid-day trading on Friday, hitting $206.54. The stock had a trading volume of 329,200 shares, compared to its average volume of 332,200. The firm has a market capitalization of $7,860.00, a price-to-earnings ratio of 53.10 and a beta of 0.70. MarketAxess has a fifty-two week low of $151.50 and a fifty-two week high of $211.06.
MarketAxess announced that its board has approved a stock repurchase program on Wednesday, October 25th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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MarketAxess 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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