MarketAxess Holdings Inc. (NASDAQ:MKTX) Expected to Announce Quarterly Sales of $119.98 Million

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Wall Street brokerages forecast that MarketAxess Holdings Inc. (NASDAQ:MKTX) will report sales of $119.98 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for MarketAxess’ earnings. The lowest sales estimate is $114.74 million and the highest is $124.17 million. MarketAxess reported sales of $101.44 million during the same quarter last year, which indicates a positive year over year growth rate of 18.3%. The business is scheduled to report its next earnings report on Wednesday, October 23rd.

On average, analysts expect that MarketAxess will report full year sales of $496.14 million for the current year, with estimates ranging from $488.17 million to $511.80 million. For the next year, analysts forecast that the company will report sales of $562.34 million, with estimates ranging from $544.32 million to $593.85 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow MarketAxess.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $1.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.03). The company had revenue of $125.50 million for the quarter, compared to analyst estimates of $126.06 million. MarketAxess had a return on equity of 29.85% and a net margin of 39.89%. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the firm earned $1.07 EPS.

A number of research analysts recently weighed in on the company. Buckingham Research lowered MarketAxess from a “neutral” rating to an “underperform” rating and set a $245.00 target price on the stock. in a report on Wednesday, June 12th. BidaskClub raised MarketAxess from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 9th. Deutsche Bank boosted their target price on MarketAxess from $332.00 to $336.00 and gave the stock a “hold” rating in a report on Wednesday, August 14th. Barclays boosted their target price on MarketAxess from $244.00 to $289.00 and gave the stock an “equal weight” rating in a report on Friday, June 28th. Finally, ValuEngine lowered MarketAxess from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. MarketAxess presently has a consensus rating of “Hold” and a consensus price target of $277.20.

In other MarketAxess news, Director Richard Leon Prager purchased 1,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $358.49 per share, with a total value of $358,490.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Richard M. Mcvey sold 20,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $350.07, for a total value of $7,001,400.00. Following the transaction, the chief executive officer now directly owns 1,044,249 shares of the company’s stock, valued at approximately $365,560,247.43. The disclosure for this sale can be found here. Insiders have sold a total of 22,852 shares of company stock valued at $7,991,127 in the last three months. 3.28% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of MKTX. CWM LLC increased its position in shares of MarketAxess by 60.7% during the second quarter. CWM LLC now owns 90 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 34 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in MarketAxess in the second quarter worth $36,000. Kavar Capital Partners LLC purchased a new stake in MarketAxess in the second quarter worth $40,000. AdvisorNet Financial Inc increased its position in MarketAxess by 41.7% in the second quarter. AdvisorNet Financial Inc now owns 170 shares of the financial services provider’s stock worth $55,000 after buying an additional 50 shares during the last quarter. Finally, Capital Bank & Trust Co increased its position in MarketAxess by 25.0% in the second quarter. Capital Bank & Trust Co now owns 210 shares of the financial services provider’s stock worth $67,000 after buying an additional 42 shares during the last quarter. 99.24% of the stock is owned by institutional investors and hedge funds.

Shares of MKTX stock traded down $0.26 during trading on Monday, reaching $388.97. 4,380 shares of the company’s stock were exchanged, compared to its average volume of 347,114. The company has a quick ratio of 10.05, a current ratio of 10.05 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $13.93 billion, a PE ratio of 85.12 and a beta of 0.22. MarketAxess has a twelve month low of $172.09 and a twelve month high of $389.51. The firm’s fifty day moving average price is $354.34 and its 200-day moving average price is $289.78.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.51 per share. The ex-dividend date was Tuesday, August 6th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.52%. MarketAxess’s dividend payout ratio (DPR) is currently 44.64%.

About MarketAxess

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.

Read More: How are Outstanding Shares Different from Authorized Shares?

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Earnings History and Estimates for MarketAxess (NASDAQ:MKTX)

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