Zacks: Brokerages Anticipate MarketAxess Holdings Inc. (NASDAQ:MKTX) Will Announce Quarterly Sales of $196.50 Million


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Analysts forecast that MarketAxess Holdings Inc. (NASDAQ:MKTX) will announce sales of $196.50 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for MarketAxess’ earnings, with the highest sales estimate coming in at $202.63 million and the lowest estimate coming in at $192.26 million. MarketAxess posted sales of $184.80 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.3%. The firm is expected to issue its next earnings report on Wednesday, July 28th.

On average, analysts expect that MarketAxess will report full year sales of $786.50 million for the current financial year, with estimates ranging from $757.27 million to $810.43 million. For the next financial year, analysts expect that the firm will report sales of $890.78 million, with estimates ranging from $846.55 million to $925.75 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow MarketAxess.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings data on Thursday, April 22nd. The financial services provider reported $2.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.13 by ($0.02). MarketAxess had a return on equity of 33.35% and a net margin of 42.73%. The business had revenue of $195.50 million during the quarter, compared to analysts’ expectations of $195.06 million. During the same period in the prior year, the firm posted $1.96 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis.

Several equities analysts recently commented on MKTX shares. Raymond James dropped their price objective on MarketAxess from $599.00 to $595.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 13th. William Blair reiterated a “market perform” rating on shares of MarketAxess in a research note on Wednesday, January 20th. Rosenblatt Securities dropped their target price on MarketAxess from $640.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, April 29th. Deutsche Bank Aktiengesellschaft reduced their target price on MarketAxess from $558.00 to $545.00 and set a “hold” rating for the company in a report on Thursday, April 29th. Finally, Morgan Stanley decreased their price objective on shares of MarketAxess from $575.00 to $538.00 and set an “equal weight” rating on the stock in a research report on Monday. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $570.67.

MKTX traded down $14.68 during trading on Thursday, hitting $474.00. 265,243 shares of the company traded hands, compared to its average volume of 275,392. The firm has a market cap of $18.01 billion, a P/E ratio of 65.29 and a beta of 0.41. MarketAxess has a one year low of $434.33 and a one year high of $606.45. The stock’s fifty day moving average is $516.46 and its 200 day moving average is $538.42.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 26th. Shareholders of record on Wednesday, May 12th will be issued a dividend of $0.66 per share. The ex-dividend date is Tuesday, May 11th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.56%. MarketAxess’s dividend payout ratio (DPR) is 48.89%.

In other MarketAxess news, CEO Richard M. Mcvey sold 20,000 shares of the stock in a transaction on Monday, March 15th. The stock was sold at an average price of $518.80, for a total transaction of $10,376,000.00. Following the sale, the chief executive officer now directly owns 785,583 shares in the company, valued at approximately $407,560,460.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Scott Pintoff sold 250 shares of MarketAxess stock in a transaction on Monday, February 8th. The stock was sold at an average price of $572.32, for a total value of $143,080.00. Following the completion of the sale, the general counsel now directly owns 6,473 shares of the company’s stock, valued at approximately $3,704,627.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,750 shares of company stock valued at $13,795,995. 3.05% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in MarketAxess by 40.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,857,237 shares of the financial services provider’s stock worth $1,059,665,000 after buying an additional 530,363 shares during the last quarter. Baillie Gifford & Co. lifted its position in MarketAxess by 1.0% during the fourth quarter. Baillie Gifford & Co. now owns 1,593,978 shares of the financial services provider’s stock valued at $909,459,000 after purchasing an additional 16,426 shares in the last quarter. Ownership Capital B.V. lifted its position in shares of MarketAxess by 28.3% during the 4th quarter. Ownership Capital B.V. now owns 1,077,270 shares of the financial services provider’s stock valued at $98,279,000 after buying an additional 237,394 shares in the last quarter. Norges Bank purchased a new stake in shares of MarketAxess during the fourth quarter worth about $202,273,000. Finally, Nuveen Asset Management LLC lifted its holdings in shares of MarketAxess by 19.4% in the fourth quarter. Nuveen Asset Management LLC now owns 248,214 shares of the financial services provider’s stock worth $141,621,000 after buying an additional 40,302 shares in the last quarter. 90.76% 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 for institutional investor and broker-dealer firms worldwide. It offers the access to global liquidity in U.S. investment-grade bonds, U.S. high-yield bonds, U.S. Treasuries, municipal bonds, emerging market debt, Eurobonds, and other fixed income securities.

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Earnings History and Estimates for MarketAxess (NASDAQ:MKTX)

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