$99.00 Million in Sales Expected for MarketAxess Holdings, Inc. (MKTX) This Quarter
Analysts expect MarketAxess Holdings, Inc. (NASDAQ:MKTX) to announce $99.00 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for MarketAxess Holdings’ earnings. The lowest sales estimate is $95.20 million and the highest is $102.80 million. MarketAxess Holdings posted sales of $94.44 million in the same quarter last year, which suggests a positive year over year growth rate of 4.8%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, January 24th.
According to Zacks, analysts expect that MarketAxess Holdings will report full year sales of $99.00 million for the current year, with estimates ranging from $393.20 million to $400.70 million. For the next year, analysts expect that the firm will report sales of $463.65 million per share, with estimates ranging from $461.00 million to $466.30 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover MarketAxess Holdings.
MarketAxess Holdings (NASDAQ:MKTX) last announced its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.90 EPS for the quarter, meeting the consensus estimate of $0.90. The business had revenue of $96.70 million during the quarter, compared to analyst estimates of $96.35 million. MarketAxess Holdings had a return on equity of 30.12% and a net margin of 37.67%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.82 earnings per share.
Several research firms have recently issued reports on MKTX. Zacks Investment Research lowered MarketAxess Holdings from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. BidaskClub lowered MarketAxess Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Finally, Raymond James Financial, Inc. lifted their price target on MarketAxess Holdings from $216.00 to $219.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $192.40.
MarketAxess Holdings (NASDAQ MKTX) opened at $173.49 on Friday. The stock has a market capitalization of $6,512.29, a PE ratio of 44.60 and a beta of 0.66. MarketAxess Holdings has a 52-week low of $145.10 and a 52-week high of $211.06.
MarketAxess Holdings announced that its board has approved a stock repurchase program on Wednesday, October 25th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 7th. MarketAxess Holdings’s dividend payout ratio is presently 33.93%.
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In related news, CEO Richard M. Mcvey sold 35,000 shares of MarketAxess Holdings stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $178.29, for a total value of $6,240,150.00. Following the completion of the sale, the chief executive officer now directly owns 1,113,076 shares in the company, valued at approximately $198,450,320.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas Themelis sold 4,000 shares of MarketAxess Holdings stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $176.40, for a total value of $705,600.00. The disclosure for this sale can be found here. 4.02% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MKTX. Janus Henderson Group PLC increased its holdings in MarketAxess Holdings by 178.5% in the 2nd quarter. Janus Henderson Group PLC now owns 807,088 shares of the financial services provider’s stock worth $162,306,000 after buying an additional 517,309 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in MarketAxess Holdings in the 2nd quarter worth about $32,252,000. Baillie Gifford & Co. increased its holdings 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 buying an additional 134,588 shares in the last quarter. FMR LLC increased its holdings in MarketAxess Holdings by 36.7% in the 2nd quarter. FMR LLC now owns 491,713 shares of the financial services provider’s stock worth $98,883,000 after buying an additional 131,911 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in MarketAxess Holdings by 10.3% in the 3rd quarter. Wells Fargo & Company MN now owns 1,232,534 shares of the financial services provider’s stock worth $227,415,000 after buying an additional 115,038 shares in the last quarter. Institutional investors own 90.02% of the company’s stock.
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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