MarketAxess Holdings Inc. to Post Q3 2024 Earnings of $1.66 Per Share, William Blair Forecasts (NASDAQ:MKTX)

MarketAxess Holdings Inc. (NASDAQ:MKTX) – William Blair upped their Q3 2024 earnings estimates for MarketAxess in a research report issued to clients and investors on Monday, September 9th. William Blair analyst J. Schmitt now expects that the financial services provider will post earnings of $1.66 per share for the quarter, up from their prior estimate of $1.63. The consensus estimate for MarketAxess’ current full-year earnings is $7.05 per share. William Blair also issued estimates for MarketAxess’ Q4 2024 earnings at $1.71 EPS and FY2024 earnings at $7.01 EPS.

MarketAxess (NASDAQ:MKTX) last released its earnings results on Tuesday, August 6th. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.04. MarketAxess had a return on equity of 20.43% and a net margin of 33.71%. The firm had revenue of $197.70 million during the quarter, compared to the consensus estimate of $198.07 million. During the same period in the prior year, the company posted $1.63 EPS. The company’s revenue was up 9.9% compared to the same quarter last year.

Several other equities analysts have also commented on MKTX. StockNews.com raised shares of MarketAxess from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. Keefe, Bruyette & Woods lifted their price objective on shares of MarketAxess from $222.00 to $225.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. Piper Sandler restated a “neutral” rating and set a $225.00 target price on shares of MarketAxess in a research note on Tuesday, August 6th. Barclays decreased their target price on MarketAxess from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on MarketAxess from $218.00 to $223.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, MarketAxess currently has an average rating of “Hold” and a consensus target price of $238.60.

MarketAxess Trading Down 1.0 %

MKTX opened at $255.41 on Thursday. The stock has a market capitalization of $9.68 billion, a price-to-earnings ratio of 37.51, a P/E/G ratio of 6.03 and a beta of 1.07. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 0.01. MarketAxess has a twelve month low of $192.42 and a twelve month high of $297.97. The company has a 50-day simple moving average of $229.10 and a 200 day simple moving average of $216.00.

MarketAxess Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Wednesday, August 21st. This is a positive change from MarketAxess’s previous quarterly dividend of $0.20. MarketAxess’s payout ratio is 43.47%.

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

Insider Activity

In related news, insider Christophe Pierre Danie Roupie sold 617 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $231.63, for a total value of $142,915.71. Following the sale, the insider now directly owns 7,409 shares in the company, valued at $1,716,146.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.66% of the company’s stock.

Institutional Trading of MarketAxess

A number of large investors have recently bought and sold shares of MKTX. GUARDCAP ASSET MANAGEMENT Ltd boosted its holdings in shares of MarketAxess by 30.3% during the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 2,425,897 shares of the financial services provider’s stock worth $531,878,000 after buying an additional 564,820 shares in the last quarter. Norges Bank acquired a new stake in MarketAxess in the fourth quarter worth $128,535,000. Millennium Management LLC grew its holdings in MarketAxess by 2,889.6% in the second quarter. Millennium Management LLC now owns 339,261 shares of the financial services provider’s stock worth $68,032,000 after purchasing an additional 327,913 shares during the period. Van ECK Associates Corp increased its stake in MarketAxess by 21.2% in the first quarter. Van ECK Associates Corp now owns 1,657,960 shares of the financial services provider’s stock valued at $363,508,000 after purchasing an additional 290,347 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of MarketAxess by 53.5% during the second quarter. Marshall Wace LLP now owns 820,060 shares of the financial services provider’s stock valued at $164,447,000 after purchasing an additional 285,665 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.