FY2024 EPS Estimates for MarketAxess Holdings Inc. Decreased by Analyst (NASDAQ:MKTX)

MarketAxess Holdings Inc. (NASDAQ:MKTX) – Stock analysts at William Blair lowered their FY2024 earnings per share (EPS) estimates for shares of MarketAxess in a research note issued to investors on Tuesday, August 6th. William Blair analyst J. Schmitt now anticipates that the financial services provider will earn $6.95 per share for the year, down from their prior estimate of $7.00. The consensus estimate for MarketAxess’ current full-year earnings is $7.00 per share. William Blair also issued estimates for MarketAxess’ Q4 2024 earnings at $1.67 EPS and Q4 2025 earnings at $2.03 EPS.

A number of other analysts have also recently weighed in on MKTX. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 price objective on shares of MarketAxess in a research report on Tuesday. UBS Group dropped their price objective on shares of MarketAxess from $305.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of MarketAxess from $208.00 to $218.00 and gave the company a “hold” rating in a report on Wednesday. StockNews.com raised shares of MarketAxess from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Barclays reduced their price objective on shares of MarketAxess from $225.00 to $215.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $238.10.

MarketAxess Trading Up 1.8 %

Shares of MarketAxess stock traded up $4.17 during trading on Thursday, reaching $236.06. The company’s stock had a trading volume of 255,802 shares, compared to its average volume of 424,040. The company has a 50-day moving average price of $209.92 and a two-hundred day moving average price of $215.11. MarketAxess has a fifty-two week low of $192.42 and a fifty-two week high of $297.97. The firm has a market cap of $8.95 billion, a PE ratio of 34.66, a P/E/G ratio of 5.87 and a beta of 1.03.

MarketAxess (NASDAQ:MKTX) last posted its earnings results on Tuesday, August 6th. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.04. MarketAxess had a return on equity of 20.82% and a net margin of 33.83%. The business had revenue of $197.70 million during the quarter, compared to the consensus estimate of $198.07 million. During the same period in the previous year, the business earned $1.63 EPS. The business’s quarterly revenue was up 9.9% on a year-over-year basis.

MarketAxess announced that its Board of Directors has approved a share buyback plan on Tuesday, August 6th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

MarketAxess Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, August 21st. This is a positive change from MarketAxess’s previous quarterly dividend of $0.20. MarketAxess’s dividend payout ratio is currently 43.47%.

Insider Buying and Selling

In other MarketAxess news, Director Stephen P. Casper sold 500 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $199.48, for a total transaction of $99,740.00. Following the transaction, the director now directly owns 10,201 shares in the company, valued at $2,034,895.48. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Christophe Pierre Danie Roupie sold 617 shares of MarketAxess stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $231.63, for a total transaction of $142,915.71. Following the sale, the insider now directly owns 7,409 shares in the company, valued at approximately $1,716,146.67. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen P. Casper sold 500 shares of MarketAxess stock in a transaction on Friday, June 7th. The shares were sold at an average price of $199.48, for a total value of $99,740.00. Following the completion of the transaction, the director now owns 10,201 shares of the company’s stock, valued at approximately $2,034,895.48. The disclosure for this sale can be found here. 2.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MarketAxess

Several hedge funds have recently bought and sold shares of MKTX. Primecap Management Co. CA grew its stake in shares of MarketAxess by 18.2% in the second quarter. Primecap Management Co. CA now owns 1,330,880 shares of the financial services provider’s stock valued at $266,881,000 after buying an additional 204,960 shares in the last quarter. Renaissance Technologies LLC increased its stake in MarketAxess by 3,066.1% in the second quarter. Renaissance Technologies LLC now owns 164,636 shares of the financial services provider’s stock valued at $33,014,000 after acquiring an additional 159,436 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of MarketAxess by 49.7% during the second quarter. Dimensional Fund Advisors LP now owns 323,064 shares of the financial services provider’s stock worth $64,784,000 after purchasing an additional 107,315 shares during the last quarter. Nia Impact Advisors LLC lifted its holdings in MarketAxess by 4.1% in the second quarter. Nia Impact Advisors LLC now owns 4,065 shares of the financial services provider’s stock valued at $815,000 after buying an additional 161 shares during the period. Finally, Retirement Planning Co of New England Inc. lifted its position in shares of MarketAxess by 2.9% during the 2nd quarter. Retirement Planning Co of New England Inc. now owns 1,566 shares of the financial services provider’s stock valued at $314,000 after acquiring an additional 44 shares during the period. 99.01% of the stock is currently owned by institutional investors and hedge funds.

MarketAxess Company Profile

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.