MarketAxess Holdings Inc. (NASDAQ:MKTX) to Post Q2 2023 Earnings of $2.00 Per Share, Jefferies Financial Group Forecasts

Posted by Defense World Staff on Apr 13th, 2023

MarketAxess Holdings Inc. (NASDAQ:MKTX – Get Rating) – Equities research analysts at Jefferies Financial Group lifted their Q2 2023 EPS estimates for shares of MarketAxess in a research note issued on Tuesday, April 11th. Jefferies Financial Group analyst D. Fannon now expects that the financial services provider will earn $2.00 per share for the quarter, up from their previous estimate of $1.94. The consensus estimate for MarketAxess’ current full-year earnings is $7.70 per share. Jefferies Financial Group also issued estimates for MarketAxess’ Q3 2023 earnings at $1.76 EPS, Q4 2023 earnings at $1.99 EPS and Q4 2024 earnings at $2.27 EPS.

MarketAxess (NASDAQ:MKTX – Get Rating) last announced its earnings results on Wednesday, January 25th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.05. The company had revenue of $177.90 million for the quarter, compared to analyst estimates of $176.92 million. MarketAxess had a net margin of 34.84% and a return on equity of 24.34%. MarketAxess’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.37 earnings per share.

Several other equities research analysts also recently commented on MKTX. Atlantic Securities raised shares of MarketAxess from a “neutral” rating to an “overweight” rating and upped their target price for the company from $321.00 to $403.00 in a research note on Thursday, March 2nd. Citigroup boosted their target price on MarketAxess from $360.00 to $415.00 and gave the company a “buy” rating in a research note on Thursday, January 26th. Credit Suisse Group raised their price target on MarketAxess from $313.00 to $332.00 and gave the stock a “neutral” rating in a research report on Thursday, January 26th. Morgan Stanley boosted their price objective on MarketAxess from $341.00 to $344.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, StockNews.com initiated coverage on shares of MarketAxess in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $331.64.

MarketAxess Trading Down 0.2 %

Shares of NASDAQ:MKTX opened at $337.59 on Wednesday. MarketAxess has a 1-year low of $217.44 and a 1-year high of $399.78. The stock has a market capitalization of $12.70 billion, a P/E ratio of 50.77 and a beta of 0.80. The business has a 50-day moving average price of $362.53 and a two-hundred day moving average price of $304.91.

MarketAxess Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 22nd. Stockholders of record on Wednesday, February 8th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 0.85%. This is an increase from MarketAxess’s previous quarterly dividend of $0.70. The ex-dividend date was Tuesday, February 7th. MarketAxess’s payout ratio is currently 43.31%.

Insider Buying and Selling

In other news, General Counsel Scott Pintoff sold 250 shares of MarketAxess stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $358.80, for a total value of $89,700.00. Following the completion of the sale, the general counsel now owns 7,156 shares in the company, valued at approximately $2,567,572.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, General Counsel Scott Pintoff sold 250 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $358.80, for a total value of $89,700.00. Following the completion of the sale, the general counsel now directly owns 7,156 shares in the company, valued at approximately $2,567,572.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steven L. Begleiter sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $348.73, for a total value of $348,730.00. Following the transaction, the director now directly owns 8,538 shares in the company, valued at $2,977,456.74. The disclosure for this sale can be found here. Insiders sold 1,854 shares of company stock valued at $659,844 over the last 90 days. Company insiders own 1.94% of the company’s stock.

Institutional Investors Weigh In On MarketAxess

Hedge funds and other institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. lifted its stake in MarketAxess by 2.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,342 shares of the financial services provider’s stock valued at $374,000 after acquiring an additional 30 shares in the last quarter. Czech National Bank boosted its holdings in MarketAxess by 0.7% during the fourth quarter. Czech National Bank now owns 4,405 shares of the financial services provider’s stock worth $1,229,000 after purchasing an additional 31 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in MarketAxess by 0.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 9,215 shares of the financial services provider’s stock worth $2,570,000 after purchasing an additional 33 shares during the last quarter. State of Alaska Department of Revenue grew its position in MarketAxess by 0.7% in the 4th quarter. State of Alaska Department of Revenue now owns 5,264 shares of the financial services provider’s stock worth $1,468,000 after purchasing an additional 35 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in MarketAxess by 49.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 106 shares of the financial services provider’s stock valued at $41,000 after buying an additional 35 shares during the last quarter. 96.78% of the stock is owned by institutional investors.

MarketAxess Company Profile

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MarketAxess Holdings, Inc engages in an electronic trading platform that allows investment industry professionals to trade corporate bonds and other types of fixed-income instruments. It operates through the Americas, Europe, and Asia geographical segments. The company was founded by Richard Mitchell Mcvey on April 11, 2000, and is headquartered in New York, NY.

Earnings History and Estimates for MarketAxess (NASDAQ:MKTX)

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