MarketAxess (NASDAQ:MKTX) Announces Earnings Results

MarketAxess (NASDAQ:MKTX) posted its quarterly earnings data on Tuesday. The financial services provider reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.07, Briefing.com reports. MarketAxess had a net margin of 34.29% and a return on equity of 21.76%. The company had revenue of $210.30 million for the quarter, compared to analyst estimates of $212.99 million. During the same period in the previous year, the business posted $1.96 earnings per share. MarketAxess’s quarterly revenue was up 3.5% on a year-over-year basis.

MarketAxess Trading Down 0.2 %

MKTX traded down $0.36 during trading on Friday, hitting $204.46. 111,680 shares of the company’s stock traded hands, compared to its average volume of 417,742. The company’s 50 day simple moving average is $212.86 and its two-hundred day simple moving average is $234.52. MarketAxess has a 12-month low of $198.01 and a 12-month high of $303.85. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 4.26 and a beta of 0.98.

MarketAxess Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd will be issued a dividend of $0.74 per share. The ex-dividend date is Tuesday, May 21st. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.45%. MarketAxess’s dividend payout ratio (DPR) is 43.21%.

Insider Activity

In related news, CRO Kevin M. Mcpherson sold 2,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $221.26, for a total value of $442,520.00. Following the transaction, the executive now directly owns 70,092 shares of the company’s stock, valued at approximately $15,508,555.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MKTX shares. Morgan Stanley upped their price target on shares of MarketAxess from $278.00 to $279.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods decreased their price target on shares of MarketAxess from $235.00 to $230.00 and set a “market perform” rating for the company in a report on Wednesday. Piper Sandler dropped their target price on shares of MarketAxess from $250.00 to $237.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. The Goldman Sachs Group dropped their target price on shares of MarketAxess from $263.00 to $225.00 and set a “neutral” rating on the stock in a research report on Thursday, February 1st. Finally, Bank of America started coverage on shares of MarketAxess in a research note on Wednesday, April 10th. They issued an “underperform” rating and a $199.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, MarketAxess has an average rating of “Hold” and an average target price of $249.73.

MarketAxess Company Profile

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. The company offers trading technology that provides liquidity access in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S.