Equities research analysts predict that MarketAxess Holdings Inc. (NASDAQ:MKTX) will report $115.95 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for MarketAxess’ earnings. The highest sales estimate is $118.90 million and the lowest is $113.00 million. MarketAxess posted sales of $103.89 million during the same quarter last year, which suggests a positive year-over-year growth rate of 11.6%. The firm is expected to announce its next earnings report on Wednesday, April 25th.
On average, analysts expect that MarketAxess will report full year sales of $115.95 million for the current fiscal year, with estimates ranging from $455.00 million to $455.60 million. For the next year, analysts forecast that the business will report sales of $524.15 million per share, with estimates ranging from $511.70 million to $536.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for MarketAxess.
A number of research analysts recently commented on MKTX shares. UBS Group lowered MarketAxess from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Zacks Investment Research upgraded MarketAxess from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Goldman Sachs Group cut MarketAxess from a “buy” rating to a “neutral” rating and set a $210.00 price target on the stock. in a research report on Monday, January 8th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $215.00 price target on shares of MarketAxess in a research report on Friday, December 22nd. Finally, Rosenblatt Securities assumed coverage on MarketAxess in a research report on Thursday, December 14th. They issued a “neutral” rating and a $190.00 price target on the stock. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $214.40.
MarketAxess announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 25th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently declared a dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be given a $0.42 dividend. This represents a yield of 0.00215097818293557%. This is a boost from MarketAxess’s previous dividend of $0.20. The ex-dividend date of this dividend is Tuesday, February 13th. MarketAxess’s dividend payout ratio is 33.93%.
In other news, Director David G. Gomach sold 4,225 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $197.98, for a total transaction of $836,465.50. Following the sale, the director now owns 259 shares in the company, valued at $51,276.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kevin M. Mcpherson sold 5,000 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $176.61, for a total value of $883,050.00. The disclosure for this sale can be found here. Insiders sold 15,450 shares of company stock worth $2,846,346 over the last quarter. Company insiders own 4.02% of the company’s stock.
Several hedge funds have recently made changes to their positions in MKTX. Gardiner Nancy B bought a new stake in shares of MarketAxess during the fourth quarter worth $201,000. Sciencast Management LP grew its holdings in shares of MarketAxess by 14.4% during the second quarter. Sciencast Management LP now owns 1,226 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 154 shares during the last quarter. First Republic Investment Management Inc. grew its holdings in shares of MarketAxess by 30.8% during the third quarter. First Republic Investment Management Inc. now owns 1,373 shares of the financial services provider’s stock worth $253,000 after purchasing an additional 323 shares during the last quarter. Traynor Capital Management Inc. bought a new stake in shares of MarketAxess during the fourth quarter worth $264,000. Finally, Advisor Group Inc. grew its holdings in shares of MarketAxess by 38.2% during the second quarter. Advisor Group Inc. now owns 1,469 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 406 shares during the last quarter. Institutional investors own 92.15% of the company’s stock.
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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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