Equities analysts forecast that MarketAxess Holdings Inc. (NASDAQ:MKTX) will report sales of $115.95 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for MarketAxess’ earnings, with the lowest sales estimate coming in at $113.00 million and the highest estimate coming in at $118.90 million. MarketAxess posted sales of $103.89 million in the same quarter last year, which suggests a positive year-over-year growth rate of 11.6%. The firm is expected to issue its next earnings results on Wednesday, April 25th.
On average, analysts expect that MarketAxess will report full year sales of $115.95 million for the current year, with estimates ranging from $455.00 million to $455.60 million. For the next fiscal year, analysts anticipate that the business will report sales of $524.15 million per share, with estimates ranging from $511.70 million to $536.60 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover MarketAxess.
MKTX has been the subject of several research analyst reports. Zacks Investment Research upgraded MarketAxess from a “hold” rating to a “strong-buy” rating and set a $238.00 target price for the company in a research note on Monday, January 8th. Goldman Sachs Group downgraded MarketAxess from a “buy” rating to a “neutral” rating and set a $210.00 target price for the company. in a research note on Monday, January 8th. BidaskClub downgraded MarketAxess from a “buy” rating to a “hold” rating in a research note on Thursday, January 25th. Rosenblatt Securities initiated coverage on MarketAxess in a research note on Thursday, December 14th. They set a “neutral” rating and a $190.00 target price for the company. Finally, Raymond James Financial reiterated a “market perform” rating on shares of MarketAxess in a research note on Monday, January 22nd. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. MarketAxess currently has a consensus rating of “Hold” and a consensus target price of $214.40.
The firm also recently announced a dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th will be paid a dividend of $0.42 per share. This is an increase from MarketAxess’s previous dividend of $0.20. This represents a dividend yield of 0.00215097818293557%. The ex-dividend date is Tuesday, February 13th. MarketAxess’s payout ratio is currently 33.93%.
MarketAxess announced that its board has initiated a stock buyback plan on Wednesday, October 25th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, Director Stephen P. Casper sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $195.84, for a total value of $391,680.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Steinhardt sold 4,225 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $174.00, for a total value of $735,150.00. The disclosure for this sale can be found here. Insiders sold a total of 15,450 shares of company stock valued at $2,846,346 over the last 90 days. 4.02% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MKTX. FMR LLC boosted its stake in MarketAxess by 36.7% in the 2nd quarter. FMR LLC now owns 491,713 shares of the financial services provider’s stock valued at $98,883,000 after purchasing an additional 131,911 shares during the period. Advisor Group Inc. boosted its stake in MarketAxess by 38.2% in the 2nd quarter. Advisor Group Inc. now owns 1,469 shares of the financial services provider’s stock valued at $295,000 after purchasing an additional 406 shares during the period. Parametric Portfolio Associates LLC boosted its stake in MarketAxess by 0.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 36,011 shares of the financial services provider’s stock valued at $7,242,000 after purchasing an additional 134 shares during the period. OxFORD Asset Management LLP bought a new stake in MarketAxess in the 2nd quarter valued at $1,081,000. Finally, Stifel Financial Corp raised its holdings in MarketAxess by 4.2% in the 2nd quarter. Stifel Financial Corp now owns 6,701 shares of the financial services provider’s stock valued at $1,340,000 after acquiring an additional 271 shares in the last quarter. Institutional investors and hedge funds own 92.15% 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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