MarketAxess (NASDAQ:MKTX) Releases Earnings Results, Beats Estimates By $0.07 EPS

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

MarketAxess Stock Down 0.7 %

Shares of NASDAQ MKTX traded down $1.39 on Wednesday, hitting $199.50. The company had a trading volume of 105,859 shares, compared to its average volume of 420,120. The firm has a market capitalization of $7.50 billion, a P/E ratio of 29.42, a PEG ratio of 4.26 and a beta of 0.98. MarketAxess has a 12-month low of $198.01 and a 12-month high of $303.85. The business has a 50 day moving average of $213.24 and a two-hundred day moving average of $234.96.

MarketAxess Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Tuesday, May 21st. MarketAxess’s dividend payout ratio is presently 43.21%.

Analysts Set New Price Targets

Several brokerages have commented on MKTX. UBS Group decreased their target price on shares of MarketAxess from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday. William Blair reissued an “outperform” rating on shares of MarketAxess in a research note on Tuesday, January 23rd. Rosenblatt Securities dropped their price objective on MarketAxess from $229.00 to $210.00 and set a “sell” rating for the company in a research note on Thursday, February 1st. Keefe, Bruyette & Woods dropped their price target on MarketAxess from $235.00 to $230.00 and set a “market perform” rating for the company in a research report on Wednesday. Finally, Piper Sandler cut their target price on shares of MarketAxess from $250.00 to $237.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $250.73.

Insider Buying and Selling

In other news, CRO Kevin M. Mcpherson sold 2,000 shares of MarketAxess stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $221.26, for a total transaction of $442,520.00. Following the sale, the executive now owns 70,092 shares in the company, valued at $15,508,555.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.66% of the stock is currently owned by corporate insiders.

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.