Brokerages expect MarketAxess Holdings Inc. (NASDAQ:MKTX) to report $101.26 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for MarketAxess’ earnings, with estimates ranging from $101.10 million to $101.49 million. MarketAxess posted sales of $96.70 million during the same quarter last year, which suggests a positive year-over-year growth rate of 4.7%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Wednesday, October 24th.
According to Zacks, analysts expect that MarketAxess will report full year sales of $429.38 million for the current year, with estimates ranging from $427.30 million to $431.40 million. For the next fiscal year, analysts forecast that the business will report sales of $485.53 million, with estimates ranging from $482.20 million to $487.50 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow MarketAxess.
MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.02. MarketAxess had a net margin of 37.33% and a return on equity of 29.49%. The company had revenue of $106.96 million for the quarter, compared to the consensus estimate of $106.41 million. During the same quarter in the prior year, the company earned $1.00 EPS. MarketAxess’s quarterly revenue was up 11.1% on a year-over-year basis.
Several equities analysts recently weighed in on MKTX shares. Barclays started coverage on shares of MarketAxess in a report on Friday, September 7th. They issued an “equal weight” rating and a $200.00 price target on the stock. BidaskClub upgraded shares of MarketAxess from a “sell” rating to a “hold” rating in a report on Friday, August 31st. Compass Point started coverage on shares of MarketAxess in a report on Tuesday, July 24th. They issued a “neutral” rating and a $205.00 price target on the stock. Zacks Investment Research downgraded shares of MarketAxess from a “hold” rating to a “sell” rating in a report on Monday, September 10th. Finally, ValuEngine upgraded shares of MarketAxess from a “hold” rating to a “buy” rating in a report on Thursday, October 4th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $210.63.
In other news, CEO Richard M. Mcvey sold 10,959 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $189.31, for a total transaction of $2,074,648.29. Following the sale, the chief executive officer now owns 1,054,743 shares of the company’s stock, valued at approximately $199,673,397.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Themelis sold 12,831 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $186.51, for a total transaction of $2,393,109.81. The disclosure for this sale can be found here. Insiders have sold a total of 66,804 shares of company stock worth $12,555,086 in the last ninety days. Corporate insiders own 3.52% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Baillie Gifford & Co. grew its stake in shares of MarketAxess by 0.6% during the 2nd quarter. Baillie Gifford & Co. now owns 3,682,935 shares of the financial services provider’s stock worth $728,705,000 after purchasing an additional 21,869 shares during the period. BlackRock Inc. grew its stake in shares of MarketAxess by 3.6% during the 2nd quarter. BlackRock Inc. now owns 3,411,494 shares of the financial services provider’s stock worth $674,996,000 after purchasing an additional 117,686 shares during the period. Janus Henderson Group PLC grew its stake in shares of MarketAxess by 2.1% during the 2nd quarter. Janus Henderson Group PLC now owns 680,335 shares of the financial services provider’s stock worth $134,611,000 after purchasing an additional 14,096 shares during the period. Van Berkom & Associates Inc. grew its stake in shares of MarketAxess by 0.7% during the 2nd quarter. Van Berkom & Associates Inc. now owns 469,609 shares of the financial services provider’s stock worth $92,917,000 after purchasing an additional 3,187 shares during the period. Finally, KAMES CAPITAL plc lifted its position in shares of MarketAxess by 0.6% during the 2nd quarter. KAMES CAPITAL plc now owns 374,712 shares of the financial services provider’s stock valued at $74,131,000 after buying an additional 2,322 shares in the last quarter. 98.89% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:MKTX opened at $196.34 on Tuesday. MarketAxess has a twelve month low of $171.45 and a twelve month high of $229.84. The company has a market capitalization of $7.42 billion, a P/E ratio of 50.34, a price-to-earnings-growth ratio of 9.28 and a beta of 0.44.
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 the access to global liquidity in U.S.
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