MarketAxess Holdings Inc. Plans Quarterly Dividend of $0.76 (NASDAQ:MKTX)

MarketAxess Holdings Inc. (NASDAQ:MKTX) announced a quarterly dividend on Friday, November 7th. Shareholders of record on Wednesday, November 19th will be paid a dividend of 0.76 per share by the financial services provider on Wednesday, December 3rd. This represents a c) annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, November 19th.

MarketAxess has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 2 years. MarketAxess has a dividend payout ratio of 35.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect MarketAxess to earn $8.72 per share next year, which means the company should continue to be able to cover its $3.04 annual dividend with an expected future payout ratio of 34.9%.

MarketAxess Trading Up 0.9%

Shares of NASDAQ:MKTX traded up $1.52 on Friday, reaching $167.27. The company had a trading volume of 1,109,992 shares, compared to its average volume of 669,273. The firm has a market capitalization of $6.25 billion, a PE ratio of 28.16, a PEG ratio of 6.44 and a beta of 0.94. MarketAxess has a 52-week low of $156.17 and a 52-week high of $277.84. The firm’s 50 day simple moving average is $174.49 and its 200-day simple moving average is $199.56.

MarketAxess (NASDAQ:MKTX) last posted its earnings results on Friday, November 7th. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.15. The company had revenue of $208.82 million for the quarter, compared to analyst estimates of $212.59 million. MarketAxess had a return on equity of 20.41% and a net margin of 26.62%.The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.90 earnings per share. As a group, equities research analysts predict that MarketAxess will post 7.79 earnings per share for the current year.

Analysts Set New Price Targets

MKTX has been the topic of a number of analyst reports. Piper Sandler set a $180.00 price objective on shares of MarketAxess in a research report on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of MarketAxess in a report on Wednesday, October 8th. Barclays decreased their price objective on MarketAxess from $200.00 to $186.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. UBS Group lowered their price objective on MarketAxess from $255.00 to $240.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Finally, Jefferies Financial Group reduced their target price on MarketAxess from $217.00 to $208.00 and set a “hold” rating on the stock in a research report on Monday, August 11th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $216.58.

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.