MarketAxess (NASDAQ:MKTX) Announces Earnings Results, Beats Expectations By $0.07 EPS

MarketAxess (NASDAQ:MKTX) posted its quarterly earnings data on Tuesday. The financial services provider reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.07, Briefing.com reports. MarketAxess had a return on equity of 21.76% and a net margin of 34.29%. The business had revenue of $210.30 million for the quarter, compared to analysts’ expectations of $212.99 million. During the same quarter in the previous year, the firm earned $1.96 earnings per share. The business’s revenue was up 3.5% on a year-over-year basis.

MarketAxess Trading Down 1.0 %

Shares of MKTX traded down $1.94 during mid-day trading on Wednesday, reaching $198.95. The company’s stock had a trading volume of 130,634 shares, compared to its average volume of 420,407. MarketAxess has a 52 week low of $198.01 and a 52 week high of $303.85. The company’s fifty day moving average price is $213.24 and its two-hundred day moving average price is $234.96. The stock has a market cap of $7.48 billion, a PE ratio of 29.42, a P/E/G ratio of 4.26 and a beta of 0.98.

MarketAxess Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Tuesday, May 21st. MarketAxess’s dividend payout ratio is currently 43.21%.

Analyst Ratings Changes

Several analysts have commented on MKTX shares. UBS Group lowered their price objective on shares of MarketAxess from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday. William Blair reiterated an “outperform” rating on shares of MarketAxess in a research note on Tuesday, January 23rd. Rosenblatt Securities reduced their price objective on MarketAxess from $229.00 to $210.00 and set a “sell” rating for the company in a report on Thursday, February 1st. Morgan Stanley boosted their target price on MarketAxess from $278.00 to $279.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Piper Sandler cut their price target on MarketAxess from $250.00 to $237.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Two investment 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’s stock. According to MarketBeat, MarketAxess currently has an average rating of “Hold” and an average target price of $250.73.

Insider Buying and Selling

In other MarketAxess news, CRO Kevin M. Mcpherson sold 2,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $221.26, for a total transaction of $442,520.00. Following the completion of the sale, the executive now directly owns 70,092 shares in the company, valued at $15,508,555.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.66% of the stock is owned by corporate insiders.

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.