MarketAxess (MKTX) to Release Earnings on Wednesday

MarketAxess (NASDAQ:MKTX) will likely be announcing its earnings results before the market opens on Wednesday, January 29th. Analysts expect the company to announce earnings of $1.84 per share and revenue of $211,350.00 billion for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

MarketAxess (NASDAQ:MKTX) last released its earnings results on Wednesday, November 6th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.85 by $0.05. The firm had revenue of $206.70 million for the quarter, compared to analysts’ expectations of $207.17 million. MarketAxess had a net margin of 34.32% and a return on equity of 20.93%. MarketAxess’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter last year, the company earned $1.46 EPS. On average, analysts expect MarketAxess to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

MarketAxess Trading Up 0.4 %

Shares of NASDAQ:MKTX opened at $225.40 on Tuesday. MarketAxess has a twelve month low of $192.42 and a twelve month high of $296.68. The firm has a market cap of $8.50 billion, a P/E ratio of 30.54, a P/E/G ratio of 4.58 and a beta of 1.03. The company has a 50 day moving average of $235.51 and a 200-day moving average of $247.67.

Analyst Upgrades and Downgrades

MKTX has been the topic of several research analyst reports. Piper Sandler lowered their price target on MarketAxess from $265.00 to $240.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. UBS Group boosted their price target on shares of MarketAxess from $330.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group raised their price objective on shares of MarketAxess from $204.00 to $233.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. Barclays dropped their target price on shares of MarketAxess from $260.00 to $256.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of MarketAxess from $258.00 to $264.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $261.30.

Insiders Place Their Bets

In related news, General Counsel Scott Pintoff sold 300 shares of MarketAxess stock in a transaction on Monday, December 9th. The stock was sold at an average price of $240.57, for a total transaction of $72,171.00. Following the completion of the sale, the general counsel now owns 8,302 shares of the company’s stock, valued at approximately $1,997,212.14. This trade represents a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard M. Mcvey sold 10,000 shares of MarketAxess stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $267.67, for a total value of $2,676,700.00. Following the sale, the chairman now owns 562,029 shares of the company’s stock, valued at approximately $150,438,302.43. This represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,300 shares of company stock worth $8,183,871. Corporate insiders own 2.66% of the company’s stock.

About MarketAxess

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.