Brokerages Anticipate MarketAxess Holdings Inc. (MKTX) Will Announce Earnings of $1.25 Per Share
Equities analysts forecast that MarketAxess Holdings Inc. (NASDAQ:MKTX) will post earnings of $1.25 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for MarketAxess’ earnings. The highest EPS estimate is $1.30 and the lowest is $1.20. MarketAxess posted earnings of $1.11 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.6%. The company is scheduled to report its next earnings report on Wednesday, April 25th.
On average, analysts expect that MarketAxess will report full year earnings of $4.69 per share for the current year, with EPS estimates ranging from $4.63 to $4.75. For the next fiscal year, analysts forecast that the business will post earnings of $5.67 per share, with EPS estimates ranging from $5.44 to $5.90. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow MarketAxess.
MKTX has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of MarketAxess from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. Rosenblatt Securities initiated coverage on MarketAxess in a report on Thursday, December 14th. They issued a “neutral” rating and a $190.00 price target for the company. Keefe, Bruyette & Woods restated a “buy” rating and issued a $215.00 price target on shares of MarketAxess in a report on Friday, December 22nd. Goldman Sachs Group cut MarketAxess from a “buy” rating to a “neutral” rating and set a $210.00 price target for the company. in a report on Monday, January 8th. Finally, UBS Group cut MarketAxess from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $214.40.
The business also recently declared a dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be issued a $0.42 dividend. This represents a yield of 0.00215097818293557%. The ex-dividend date is Tuesday, February 13th. This is a boost from MarketAxess’s previous dividend of $0.20. MarketAxess’s dividend payout ratio is currently 33.93%.
MarketAxess declared that its board has authorized a share buyback program on Wednesday, October 25th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
In other MarketAxess news, CEO Richard M. Mcvey sold 35,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $190.61, for a total value of $6,671,350.00. Following the completion of the transaction, the chief executive officer now owns 1,115,767 shares in the company, valued at approximately $212,676,347.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kevin M. Mcpherson sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $176.61, for a total value of $883,050.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,450 shares of company stock valued at $9,517,696. 4.02% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Gardiner Nancy B purchased a new position in shares of MarketAxess during the 4th quarter valued at approximately $201,000. Sciencast Management LP boosted its stake in shares of MarketAxess by 14.4% during the 2nd quarter. Sciencast Management LP now owns 1,226 shares of the financial services provider’s stock valued at $247,000 after buying an additional 154 shares during the last quarter. Polen Capital Management LLC purchased a new position in shares of MarketAxess during the 4th quarter valued at approximately $262,000. Traynor Capital Management Inc. purchased a new position in shares of MarketAxess during the 4th quarter valued at approximately $264,000. Finally, First Republic Investment Management Inc. boosted its stake in shares of MarketAxess by 30.8% during the 3rd quarter. First Republic Investment Management Inc. now owns 1,373 shares of the financial services provider’s stock valued at $253,000 after buying an additional 323 shares during the last quarter. Institutional investors own 91.41% of the company’s stock.
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MarketAxess Holdings Inc operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments using its trading technology. Institutional investor and broker-dealer firms are users of trading platform, accessing global liquidity in the United States corporate bonds, emerging markets and high-yield bonds, European bonds, the United States agency bonds, municipal bonds, credit default swaps and other fixed-income securities.
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