MarketAxess (NASDAQ:MKTX) Posts Quarterly Earnings Results

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

MarketAxess Price Performance

NASDAQ:MKTX traded up $3.52 during midday trading on Thursday, reaching $205.73. 71,739 shares of the company traded hands, compared to its average volume of 419,574. MarketAxess has a twelve month low of $198.01 and a twelve month high of $303.85. The firm has a market capitalization of $7.74 billion, a price-to-earnings ratio of 29.71, a price-to-earnings-growth ratio of 4.26 and a beta of 0.98. The company has a fifty day moving average price of $213.04 and a 200 day moving average price of $234.73.

MarketAxess Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be given a dividend of $0.74 per share. The ex-dividend date is Tuesday, May 21st. This represents a $2.96 dividend on an annualized basis and a yield of 1.44%. MarketAxess’s dividend payout ratio is currently 43.21%.

Insider Activity at MarketAxess

In other MarketAxess news, CRO Kevin M. Mcpherson sold 2,000 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $221.26, for a total transaction of $442,520.00. Following the completion of the transaction, the executive now owns 70,092 shares in the company, valued at approximately $15,508,555.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. UBS Group reduced their price objective on MarketAxess from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday. Rosenblatt Securities dropped their target price 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 lowered their price target on MarketAxess from $235.00 to $230.00 and set a “market perform” rating for the company in a report on Wednesday. Barclays cut their price objective on shares of MarketAxess from $236.00 to $225.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Bank of America initiated coverage on MarketAxess in a report on Wednesday, April 10th. They set an “underperform” rating and a $199.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $249.73.

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.