$99.25 Million in Sales Expected for MarketAxess Holdings, Inc. (MKTX) This Quarter
Wall Street brokerages forecast that MarketAxess Holdings, Inc. (NASDAQ:MKTX) will report $99.25 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for MarketAxess Holdings’ earnings. The highest sales estimate is $99.50 million and the lowest is $99.00 million. 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 9.9%. The firm is scheduled to issue its next earnings report on Wednesday, October 25th.
On average, analysts expect that MarketAxess Holdings will report full year sales of $99.25 million for the current fiscal year, with estimates ranging from $402.20 million to $407.60 million. For the next financial year, analysts anticipate that the firm will post sales of $473.80 million per share, with estimates ranging from $471.30 million to $476.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for MarketAxess Holdings.
MarketAxess Holdings (NASDAQ:MKTX) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.08. The business had revenue of $97.31 million during the quarter, compared to the consensus estimate of $96.42 million. MarketAxess Holdings had a return on equity of 30.38% and a net margin of 37.46%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the firm earned $0.88 earnings per share.
Several brokerages have weighed in on MKTX. BidaskClub raised shares of MarketAxess Holdings from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. Raymond James Financial, Inc. upped their price objective on shares of MarketAxess Holdings from $216.00 to $219.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Zacks Investment Research cut shares of MarketAxess Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $205.00 price objective on shares of MarketAxess Holdings in a research note on Thursday, July 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $197.17.
MarketAxess Holdings (NASDAQ:MKTX) opened at 199.05 on Thursday. MarketAxess Holdings has a 1-year low of $145.10 and a 1-year high of $211.06. The firm has a market capitalization of $7.47 billion, a P/E ratio of 52.35 and a beta of 0.69. The company has a 50-day moving average price of $199.36 and a 200-day moving average price of $191.75.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, August 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.66%. MarketAxess Holdings’s payout ratio is 34.65%.
In other news, Director Stephen P. Casper sold 230 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $184.70, for a total transaction of $42,481.00. Following the transaction, the director now directly owns 50,464 shares in the company, valued at $9,320,700.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Themelis sold 5,596 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $200.84, for a total transaction of $1,123,900.64. Following the transaction, the insider now owns 67,763 shares in the company, valued at $13,609,520.92. The disclosure for this sale can be found here. Insiders have sold 15,112 shares of company stock worth $3,036,118 over the last quarter. 4.51% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of MarketAxess Holdings by 16,586.2% in the first quarter. BlackRock Inc. now owns 3,000,674 shares of the financial services provider’s stock worth $562,595,000 after buying an additional 2,982,691 shares during the last quarter. Vanguard Group Inc. raised its position in shares of MarketAxess Holdings by 5.0% in the first quarter. Vanguard Group Inc. now owns 2,855,565 shares of the financial services provider’s stock worth $535,390,000 after buying an additional 134,735 shares during the last quarter. State Street Corp raised its position in shares of MarketAxess Holdings by 2.3% in the first quarter. State Street Corp now owns 980,810 shares of the financial services provider’s stock worth $183,883,000 after buying an additional 22,091 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of MarketAxess Holdings by 10.2% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 840,526 shares of the financial services provider’s stock worth $169,031,000 after buying an additional 77,588 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of MarketAxess Holdings by 9.5% in the first quarter. American Century Companies Inc. now owns 544,281 shares of the financial services provider’s stock worth $102,047,000 after buying an additional 47,254 shares during the last quarter. Institutional investors own 90.05% 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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