MarketAxess Holdings Inc. (NASDAQ:MKTX - Get Free Report) declared a quarterly dividend on Wednesday, November 6th, RTT News reports. Shareholders of record on Wednesday, November 20th will be paid a dividend of 0.74 per share by the financial services provider on Wednesday, December 4th. This represents a $2.96 dividend on an annualized basis and a yield of 1.08%.
MarketAxess has increased its dividend by an average of 6.3% annually over the last three years and has increased its dividend every year for the last 16 years. MarketAxess has a payout ratio of 36.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect MarketAxess to earn $8.16 per share next year, which means the company should continue to be able to cover its $2.96 annual dividend with an expected future payout ratio of 36.3%.
MarketAxess Stock Performance
Shares of NASDAQ MKTX traded down $4.28 during midday trading on Wednesday, reaching $274.87. 863,878 shares of the company traded hands, compared to its average volume of 301,668. The stock has a 50-day moving average price of $268.54 and a 200 day moving average price of $232.21. The company has a market cap of $10.38 billion, a price-to-earnings ratio of 39.61, a PEG ratio of 9.04 and a beta of 1.05. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.91 and a quick ratio of 2.91. MarketAxess has a 52 week low of $192.42 and a 52 week high of $297.97.
MarketAxess (NASDAQ:MKTX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $1.72 EPS for the quarter, topping analysts' consensus estimates of $1.68 by $0.04. The company had revenue of $197.70 million for the quarter, compared to the consensus estimate of $198.07 million. MarketAxess had a return on equity of 20.43% and a net margin of 33.71%. The company's quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.63 EPS. Sell-side analysts anticipate that MarketAxess will post 7.26 earnings per share for the current fiscal year.
MarketAxess announced that its Board of Directors has approved a stock repurchase plan on Tuesday, August 6th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase up to 2.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.
Analysts Set New Price Targets
MKTX has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped their target price on MarketAxess from $218.00 to $223.00 and gave the stock a "hold" rating in a research report on Thursday, August 15th. The Goldman Sachs Group boosted their target price 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. Morgan Stanley raised their price target on shares of MarketAxess from $262.00 to $314.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. Bank of America lowered their target price on shares of MarketAxess from $193.00 to $185.00 and set an "underperform" rating on the stock in a research report on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods boosted their price target on MarketAxess from $222.00 to $225.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, MarketAxess presently has a consensus rating of "Hold" and an average target price of $253.30.
Get Our Latest Stock Report on MKTX
Insider Activity
In other MarketAxess news, insider Christophe Pierre Danie Roupie sold 617 shares of the firm's stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $231.63, for a total value of $142,915.71. Following the completion of the sale, the insider now owns 7,409 shares in the company, valued at approximately $1,716,146.67. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.66% of the stock is currently owned by corporate insiders.
About MarketAxess
(
Get Free Report)
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.
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