$0.91 EPS Expected for MarketAxess Holdings, Inc. (MKTX) This Quarter
Brokerages expect MarketAxess Holdings, Inc. (NASDAQ:MKTX) to post earnings of $0.91 per share for the current quarter, Zacks reports. Two analysts have provided estimates for MarketAxess’ earnings. The highest EPS estimate is $0.99 and the lowest is $0.82. MarketAxess reported earnings per share of $0.88 in the same quarter last year, which indicates a positive year over year growth rate of 3.4%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, January 24th.
On average, analysts expect that MarketAxess will report full year earnings of $3.92 per share for the current financial year, with EPS estimates ranging from $3.83 to $4.00. For the next fiscal year, analysts forecast that the business will post earnings of $4.76 per share, with EPS estimates ranging from $4.72 to $4.80. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow MarketAxess.
MarketAxess (NASDAQ:MKTX) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.90. MarketAxess had a net margin of 37.67% and a return on equity of 30.12%. The firm had revenue of $96.70 million for the quarter, compared to analysts’ expectations of $96.35 million. During the same quarter last year, the business earned $0.82 earnings per share. The business’s revenue was up 7.1% on a year-over-year basis.
Several brokerages have recently issued reports on MKTX. Rosenblatt Securities began coverage on shares of MarketAxess in a report on Thursday. They issued a “neutral” rating and a $190.00 target price on the stock. Zacks Investment Research upgraded shares of MarketAxess from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Five 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 company. The stock currently has an average rating of “Buy” and an average target price of $192.00.
Shares of MarketAxess (NASDAQ MKTX) traded down $1.22 during trading on Friday, hitting $193.85. 327,337 shares of the stock traded hands, compared to its average volume of 224,660. MarketAxess has a 1 year low of $145.10 and a 1 year high of $211.06. The company has a market capitalization of $7,276.55, a PE ratio of 49.83 and a beta of 0.69.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 0.68%. The ex-dividend date was Tuesday, November 7th. MarketAxess’s dividend payout ratio (DPR) is currently 33.93%.
MarketAxess announced that its board has authorized a stock 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 buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
In related news, Director Stephen P. Casper sold 2,000 shares of MarketAxess stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $195.84, for a total value of $391,680.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Richard M. Mcvey sold 35,000 shares of MarketAxess stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $178.29, for a total transaction of $6,240,150.00. Following the completion of the sale, the chief executive officer now owns 1,113,076 shares in the company, valued at approximately $198,450,320.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,225 shares of company stock worth $8,955,630. 4.02% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Burgundy Asset Management Ltd. boosted its holdings in MarketAxess by 4.2% in the third quarter. Burgundy Asset Management Ltd. now owns 463,012 shares of the financial services provider’s stock valued at $85,430,000 after acquiring an additional 18,757 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in MarketAxess by 66.8% during the third quarter. Public Employees Retirement System of Ohio now owns 27,962 shares of the financial services provider’s stock valued at $5,159,000 after buying an additional 11,199 shares during the period. GSA Capital Partners LLP purchased a new position in MarketAxess during the third quarter valued at $694,000. DF Dent & Co. Inc. purchased a new position in MarketAxess during the third quarter valued at $482,000. Finally, Neuberger Berman Group LLC lifted its position in MarketAxess by 0.4% during the third quarter. Neuberger Berman Group LLC now owns 988,574 shares of the financial services provider’s stock valued at $182,402,000 after buying an additional 4,191 shares during the period. Institutional investors and hedge funds own 92.84% of the company’s stock.
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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