FY2024 EPS Estimates for MarketAxess Boosted by Analyst

MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) - Equities research analysts at William Blair increased their FY2024 EPS estimates for shares of MarketAxess in a research note issued on Wednesday, November 6th. William Blair analyst J. Schmitt now forecasts that the financial services provider will post earnings per share of $7.31 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.

MarketAxess (NASDAQ:MKTX - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts' consensus estimates of $1.82 by $0.08. MarketAxess had a return on equity of 20.43% and a net margin of 33.71%. The company had revenue of $206.70 million for the quarter, compared to analysts' expectations of $207.17 million. During the same quarter in the previous year, the company posted $1.46 earnings per share. The business's revenue for the quarter was up 20.0% compared to the same quarter last year.

A number of other brokerages have also recently weighed in on MKTX. Citigroup lifted their price objective on shares of MarketAxess from $310.00 to $325.00 and gave the company a "buy" rating in a research note on Friday, October 4th. The Goldman Sachs Group boosted their price target on shares of MarketAxess from $204.00 to $233.00 and gave the stock a "neutral" rating in a research report on Monday, September 30th. UBS Group upped their price target on shares of MarketAxess from $330.00 to $335.00 and gave the stock a "buy" rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of MarketAxess from $218.00 to $223.00 and gave the company a "hold" rating in a research note on Thursday, August 15th. Finally, Barclays upped their target price on MarketAxess from $237.00 to $268.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $263.40.

MarketAxess Stock Performance

MarketAxess stock traded up $0.27 during mid-day trading on Friday, hitting $274.68. 386,697 shares of the company's stock traded hands, compared to its average volume of 408,815. MarketAxess has a one year low of $192.42 and a one year high of $297.97. The company has a market cap of $10.37 billion, a PE ratio of 39.54, a price-to-earnings-growth ratio of 9.04 and a beta of 1.05. The firm has a 50 day moving average price of $269.85 and a 200 day moving average price of $232.80. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On MarketAxess

A number of large investors have recently bought and sold shares of the business. Kingsview Wealth Management LLC bought a new stake in shares of MarketAxess during the 1st quarter worth about $7,866,000. SG Americas Securities LLC boosted its position in MarketAxess by 174.2% during the first quarter. SG Americas Securities LLC now owns 6,743 shares of the financial services provider's stock worth $1,478,000 after purchasing an additional 4,284 shares during the period. Choate Investment Advisors bought a new position in shares of MarketAxess in the first quarter valued at approximately $752,000. Entropy Technologies LP acquired a new stake in shares of MarketAxess in the first quarter worth $882,000. Finally, ProShare Advisors LLC boosted its holdings in shares of MarketAxess by 48.4% during the 1st quarter. ProShare Advisors LLC now owns 11,615 shares of the financial services provider's stock worth $2,547,000 after buying an additional 3,787 shares during the period. 99.01% of the stock is currently owned by institutional investors.

MarketAxess Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.08%. MarketAxess's dividend payout ratio is currently 42.65%.

MarketAxess declared that its board has authorized a share buyback program on Tuesday, August 6th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the financial services provider to buy up to 2.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

About MarketAxess

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.