MarketAxess (NASDAQ:MKTX - Get Free Report) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, November 6th. Analysts expect the company to announce earnings of $1.78 per share for the quarter. Persons that wish to register for the company's earnings conference call can do so using this link.
MarketAxess (NASDAQ:MKTX - Get Free Report) last released its earnings results 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. MarketAxess had a return on equity of 20.43% and a net margin of 33.71%. The firm had revenue of $197.70 million for the quarter, compared to analysts' expectations of $198.07 million. During the same period in the prior year, the firm posted $1.63 earnings per share. The company's quarterly revenue was up 9.9% on a year-over-year basis. On average, analysts expect MarketAxess to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.
MarketAxess Stock Performance
Shares of MarketAxess stock traded up $1.28 during trading on Wednesday, hitting $293.61. 266,059 shares of the company's stock traded hands, compared to its average volume of 407,087. 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 1 year low of $192.42 and a 1 year high of $297.97. The stock has a market capitalization of $11.08 billion, a P/E ratio of 42.68, a PEG ratio of 6.42 and a beta of 1.08. The business has a 50-day simple moving average of $263.32 and a 200-day simple moving average of $229.25.
MarketAxess declared that its Board of Directors has initiated a stock repurchase program on Tuesday, August 6th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its stock is undervalued.
Analyst Upgrades and Downgrades
MKTX has been the topic of several research reports. Barclays raised 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. Morgan Stanley raised their target price on MarketAxess from $262.00 to $314.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. Citigroup raised their price objective on MarketAxess from $310.00 to $325.00 and gave the stock a "buy" rating in a research note on Friday, October 4th. Piper Sandler raised their price objective on MarketAxess from $235.00 to $265.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on MarketAxess from $218.00 to $223.00 and gave the stock a "hold" rating in a research note on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, MarketAxess presently has an average rating of "Hold" and a consensus target price of $253.30.
Read Our Latest Stock Analysis on MKTX
Insider Transactions at MarketAxess
In other 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 transaction of $142,915.71. Following the sale, the insider now directly owns 7,409 shares of the company's stock, valued at $1,716,146.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.66% of the company's stock.
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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