MarketAxess Holdings Inc. (MKTX) Expected to Announce Quarterly Sales of $103.85 Million

Wall Street brokerages expect MarketAxess Holdings Inc. (NASDAQ:MKTX) to announce $103.85 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for MarketAxess’ earnings, with the lowest sales estimate coming in at $100.85 million and the highest estimate coming in at $105.80 million. MarketAxess reported sales of $96.70 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.4%. The business is expected to report its next earnings report on Wednesday, October 24th.

According to Zacks, analysts expect that MarketAxess will report full-year sales of $434.47 million for the current fiscal year, with estimates ranging from $432.30 million to $436.10 million. For the next fiscal year, analysts forecast that the company will post sales of $500.02 million per share, with estimates ranging from $485.30 million to $507.77 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for MarketAxess.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.02. MarketAxess had a net margin of 37.33% and a return on equity of 29.49%. The business had revenue of $106.96 million for the quarter, compared to analysts’ expectations of $106.41 million. During the same period last year, the business earned $1.00 EPS. The company’s revenue was up 11.1% compared to the same quarter last year.

A number of analysts have 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. 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. BidaskClub cut shares of MarketAxess from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. Zacks Investment Research cut shares of MarketAxess from a “hold” rating to a “sell” rating in a report on Monday, September 10th. Finally, ValuEngine cut shares of MarketAxess from a “buy” rating to a “hold” rating in a report on Wednesday, June 6th. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $210.88.

In other MarketAxess news, CEO Richard M. Mcvey sold 23,014 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $189.16, for a total transaction of $4,353,328.24. Following the completion of the transaction, the chief executive officer now directly owns 1,054,743 shares of the company’s stock, valued at approximately $199,515,185.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard M. Mcvey sold 10,959 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $189.31, for a total transaction of $2,074,648.29. Following the transaction, the chief executive officer now directly owns 1,054,743 shares of the company’s stock, valued at $199,673,397.33. The disclosure for this sale can be found here. Insiders sold a total of 66,804 shares of company stock valued at $12,555,086 over the last ninety days. 3.52% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. raised its position in 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 buying an additional 21,869 shares during the last quarter. BlackRock Inc. raised its position in 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 buying an additional 117,686 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in MarketAxess by 4.6% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,121,501 shares of the financial services provider’s stock worth $243,861,000 after buying an additional 49,580 shares during the last quarter. Janus Henderson Group PLC raised its position in 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 buying an additional 14,096 shares during the last quarter. Finally, Royal Bank of Canada raised its position in MarketAxess by 11.8% during the 1st quarter. Royal Bank of Canada now owns 663,432 shares of the financial services provider’s stock worth $144,257,000 after buying an additional 70,218 shares during the last quarter. 99.98% of the stock is owned by institutional investors.

Shares of NASDAQ:MKTX traded up $2.32 during trading on Wednesday, reaching $184.18. The stock had a trading volume of 202,200 shares, compared to its average volume of 212,752. MarketAxess has a one year low of $171.45 and a one year high of $229.84. The stock has a market capitalization of $6.83 billion, a P/E ratio of 47.23, a P/E/G ratio of 8.31 and a beta of 0.50.

MarketAxess Company Profile

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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Earnings History and Estimates for MarketAxess (NASDAQ:MKTX)

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