Analysts Anticipate MarketAxess Holdings Inc. (NASDAQ:MKTX) Will Post Quarterly Sales of $164.20 Million

Analysts predict that MarketAxess Holdings Inc. (NASDAQ:MKTX) will announce sales of $164.20 million for the current quarter, Zacks reports. Five analysts have issued estimates for MarketAxess’ earnings. The lowest sales estimate is $162.33 million and the highest is $168.30 million. MarketAxess posted sales of $129.77 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 26.5%. The company is scheduled to announce its next earnings report on Wednesday, February 3rd.

According to Zacks, analysts expect that MarketAxess will report full-year sales of $681.97 million for the current fiscal year, with estimates ranging from $680.11 million to $686.10 million. For the next financial year, analysts forecast that the business will report sales of $753.59 million, with estimates ranging from $726.50 million to $771.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for MarketAxess.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings results on Tuesday, October 27th. The financial services provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.04. MarketAxess had a net margin of 42.73% and a return on equity of 33.35%. The firm had revenue of $164.00 million during the quarter, compared to analysts’ expectations of $138.13 million. During the same quarter in the prior year, the company earned $1.42 EPS. The company’s revenue was up 24.6% compared to the same quarter last year.

A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of MarketAxess from a “buy” rating to a “hold” rating and set a $474.00 target price for the company. in a research report on Wednesday, September 9th. Deutsche Bank Aktiengesellschaft upped their price target on shares of MarketAxess from $517.00 to $562.00 and gave the company a “hold” rating in a research note on Wednesday, October 28th. Rosenblatt Securities upped their price target on shares of MarketAxess from $561.00 to $575.00 and gave the company a “neutral” rating in a research note on Friday, November 6th. BidaskClub lowered shares of MarketAxess from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 2nd. Finally, Loop Capital upped their price target on shares of MarketAxess from $621.00 to $631.00 and gave the company a “buy” rating in a research note on Wednesday, November 4th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $478.33.

NASDAQ:MKTX opened at $546.14 on Thursday. MarketAxess has a 52 week low of $275.49 and a 52 week high of $606.45. The firm has a 50 day moving average of $535.86 and a 200 day moving average of $504.30. The stock has a market capitalization of $20.73 billion, a price-to-earnings ratio of 75.23 and a beta of 0.46.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Wednesday, November 11th will be paid a $0.60 dividend. The ex-dividend date is Monday, November 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.44%. MarketAxess’s payout ratio is currently 44.44%.

In other news, insider Nicholas Themelis sold 17,262 shares of the stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $554.71, for a total value of $9,575,404.02. Following the sale, the insider now owns 43,624 shares in the company, valued at $24,198,669.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard M. Mcvey sold 32,017 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $450.85, for a total transaction of $14,434,864.45. Following the completion of the sale, the chief executive officer now owns 973,085 shares in the company, valued at approximately $438,715,372.25. The disclosure for this sale can be found here. Insiders sold 59,979 shares of company stock worth $29,438,386 in the last quarter. Company insiders own 3.05% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. purchased a new stake in MarketAxess during the second quarter worth $1,597,000. Janney Montgomery Scott LLC boosted its holdings in MarketAxess by 7.4% during the third quarter. Janney Montgomery Scott LLC now owns 18,679 shares of the financial services provider’s stock worth $8,996,000 after buying an additional 1,281 shares in the last quarter. State of Michigan Retirement System boosted its holdings in MarketAxess by 11.3% during the second quarter. State of Michigan Retirement System now owns 9,681 shares of the financial services provider’s stock worth $4,849,000 after buying an additional 981 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in MarketAxess by 384.3% during the second quarter. Victory Capital Management Inc. now owns 120,037 shares of the financial services provider’s stock valued at $60,129,000 after purchasing an additional 95,251 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in MarketAxess by 416.1% during the second quarter. PNC Financial Services Group Inc. now owns 11,065 shares of the financial services provider’s stock valued at $5,542,000 after purchasing an additional 8,921 shares in the last quarter. 91.72% of the stock is currently owned by hedge funds and other institutional investors.

MarketAxess Company Profile

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments worldwide. It offers institutional investor and broker-dealer firms the access to global liquidity in U.S.

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Earnings History and Estimates for MarketAxess (NASDAQ:MKTX)

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