Zacks: Brokerages Anticipate MarketAxess Holdings Inc. (NASDAQ:MKTX) to Announce $1.85 EPS

Analysts predict that MarketAxess Holdings Inc. (NASDAQ:MKTX) will post $1.85 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have made estimates for MarketAxess’ earnings. The lowest EPS estimate is $1.75 and the highest is $2.00. MarketAxess reported earnings per share of $1.27 during the same quarter last year, which suggests a positive year-over-year growth rate of 45.7%. The company is expected to issue its next quarterly earnings results on Wednesday, July 22nd.

According to Zacks, analysts expect that MarketAxess will report full-year earnings of $7.01 per share for the current year, with EPS estimates ranging from $6.78 to $7.25. For the next financial year, analysts forecast that the business will post earnings of $7.51 per share, with EPS estimates ranging from $7.21 to $7.97. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for MarketAxess.

MarketAxess (NASDAQ:MKTX) last posted its earnings results on Wednesday, April 29th. The financial services provider reported $1.96 EPS for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.06. MarketAxess had a net margin of 40.87% and a return on equity of 31.08%. The company had revenue of $169.00 million for the quarter, compared to analysts’ expectations of $139.03 million. During the same quarter in the prior year, the company posted $1.39 earnings per share. MarketAxess’s revenue for the quarter was up 35.7% compared to the same quarter last year.

MKTX has been the topic of a number of recent research reports. Goldman Sachs Group upgraded shares of MarketAxess from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $265.00 to $315.00 in a research note on Tuesday, March 24th. BidaskClub lowered shares of MarketAxess from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Raymond James upgraded shares of MarketAxess from a “market perform” rating to an “outperform” rating and set a $371.00 price target on the stock in a research note on Friday, March 13th. Barclays upgraded shares of MarketAxess from an “equal weight” rating to an “overweight” rating and set a $350.00 price target on the stock in a research note on Monday, March 23rd. Finally, Rosenblatt Securities reiterated a “hold” rating and set a $426.00 price target on shares of MarketAxess in a research note on Thursday, April 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $364.71.

NASDAQ MKTX traded up $9.39 during trading hours on Monday, reaching $482.32. The company had a trading volume of 193,698 shares, compared to its average volume of 326,154. The company has a current ratio of 7.53, a quick ratio of 7.53 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $17.93 billion, a P/E ratio of 80.79 and a beta of 0.61. The stock has a 50-day moving average of $438.08 and a 200 day moving average of $380.13. MarketAxess has a 1-year low of $275.49 and a 1-year high of $517.93.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th will be paid a dividend of $0.60 per share. The ex-dividend date is Tuesday, May 12th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.50%. MarketAxess’s payout ratio is 44.44%.

In other MarketAxess news, Director Stephen P. Casper sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $479.44, for a total value of $958,880.00. Following the transaction, the director now directly owns 13,367 shares in the company, valued at $6,408,674.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard M. Mcvey sold 25,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $483.62, for a total transaction of $12,090,500.00. Following the completion of the transaction, the chief executive officer now owns 952,077 shares in the company, valued at $460,443,478.74. The disclosure for this sale can be found here. Insiders have sold 29,170 shares of company stock worth $14,047,103 over the last 90 days. Insiders own 3.28% of the company’s stock.

A number of institutional investors have recently made changes to their positions in MKTX. CNB Bank purchased a new position in MarketAxess in the fourth quarter valued at approximately $35,000. Acadian Asset Management LLC increased its stake in MarketAxess by 1,500.0% in the fourth quarter. Acadian Asset Management LLC now owns 112 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 105 shares during the last quarter. Aigen Investment Management LP purchased a new position in MarketAxess in the fourth quarter valued at approximately $48,000. CSat Investment Advisory L.P. increased its stake in MarketAxess by 28.6% in the fourth quarter. CSat Investment Advisory L.P. now owns 153 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 34 shares during the last quarter. Finally, Bartlett & Co. LLC purchased a new position in MarketAxess in the first quarter valued at approximately $58,000. Institutional investors own 94.12% of the company’s stock.

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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