FY2024 EPS Estimates for MarketAxess Lifted by William Blair

MarketAxess Holdings Inc. (NASDAQ:MKTX) – Analysts at William Blair lifted their FY2024 earnings per share (EPS) estimates for shares of MarketAxess in a research report issued to clients and investors on Wednesday, November 6th. William Blair analyst J. Schmitt now anticipates that the financial services provider will post earnings of $7.31 per share for the year, up from their prior forecast of $7.23. The consensus estimate for MarketAxess’ current full-year earnings is $7.26 per share. William Blair also issued estimates for MarketAxess’ Q4 2024 earnings at $1.76 EPS, Q3 2025 earnings at $2.07 EPS and Q3 2026 earnings at $2.33 EPS.

MKTX has been the topic of several other reports. Barclays upped their price objective on MarketAxess from $237.00 to $268.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. UBS Group upped their price objective on MarketAxess from $330.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com upgraded shares of MarketAxess from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group boosted their target price on shares of MarketAxess from $204.00 to $233.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Finally, Bank of America decreased their target price on shares of MarketAxess from $193.00 to $185.00 and set an “underperform” rating for the company in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $263.40.

MarketAxess Stock Performance

MKTX stock opened at $274.41 on Friday. The stock has a market capitalization of $10.36 billion, a PE ratio of 39.54, a price-to-earnings-growth ratio of 9.04 and a beta of 1.05. MarketAxess has a 12-month low of $192.42 and a 12-month high of $297.97. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 0.01. The stock’s 50 day simple moving average is $269.85 and its 200 day simple moving average is $232.80.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.08. The business had revenue of $206.70 million for the quarter, compared to analysts’ expectations of $207.17 million. MarketAxess had a return on equity of 20.43% and a net margin of 33.71%. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.46 EPS.

MarketAxess declared that its Board of Directors has approved a share buyback plan on Tuesday, August 6th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

MarketAxess Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Wednesday, November 20th. MarketAxess’s dividend payout ratio (DPR) is presently 42.65%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of MarketAxess by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 4,539,440 shares of the financial services provider’s stock valued at $995,272,000 after acquiring an additional 13,018 shares during the last quarter. GUARDCAP ASSET MANAGEMENT Ltd lifted its holdings in shares of MarketAxess by 30.3% in the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 2,425,897 shares of the financial services provider’s stock valued at $531,878,000 after acquiring an additional 564,820 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of MarketAxess by 10.3% in the 2nd quarter. Van ECK Associates Corp now owns 1,828,055 shares of the financial services provider’s stock valued at $366,580,000 after acquiring an additional 170,095 shares during the last quarter. Primecap Management Co. CA lifted its holdings in shares of MarketAxess by 18.2% in the 2nd quarter. Primecap Management Co. CA now owns 1,330,880 shares of the financial services provider’s stock valued at $266,881,000 after acquiring an additional 204,960 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of MarketAxess by 53.5% in the 2nd quarter. Marshall Wace LLP now owns 820,060 shares of the financial services provider’s stock valued at $164,447,000 after acquiring an additional 285,665 shares during the last quarter. Institutional investors own 99.01% of the company’s stock.

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.