FY2024 EPS Estimates for MarketAxess Lifted by William Blair

MarketAxess Holdings Inc. (NASDAQ:MKTX) – Equities researchers at William Blair raised their FY2024 earnings estimates for shares of MarketAxess in a report 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 previous 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) 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 20.93% and a net margin of 34.32%. 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 equities research analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted 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. Morgan Stanley upped their price target on shares of MarketAxess from $262.00 to $314.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods raised their price objective on shares of MarketAxess from $270.00 to $276.00 and gave the company a “market perform” rating in a research note on Thursday. 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. Finally, Bank of America lowered their price target on MarketAxess from $193.00 to $185.00 and set an “underperform” rating on the stock in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $263.40.

MarketAxess Stock Up 0.1 %

Shares of MarketAxess stock opened at $274.68 on Friday. MarketAxess has a 1-year low of $192.42 and a 1-year high of $297.97. The company has a market capitalization of $10.37 billion, a P/E ratio of 37.22, a PEG ratio of 8.64 and a beta of 1.05. The business’s fifty day moving average price is $270.50 and its two-hundred day moving average price is $233.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.56 and a quick ratio of 2.91.

Institutional Trading of MarketAxess

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Kingsview Wealth Management LLC purchased a new position in shares of MarketAxess in the first quarter worth approximately $7,866,000. SG Americas Securities LLC raised its stake in MarketAxess by 174.2% during the 1st quarter. SG Americas Securities LLC now owns 6,743 shares of the financial services provider’s stock valued at $1,478,000 after purchasing an additional 4,284 shares during the period. Choate Investment Advisors acquired a new stake in MarketAxess during the 1st quarter valued at $752,000. Entropy Technologies LP purchased a new stake in shares of MarketAxess in the first quarter valued at $882,000. Finally, ProShare Advisors LLC boosted its position in shares of MarketAxess by 48.4% in the first 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. Institutional investors and hedge funds own 99.01% of the company’s stock.

MarketAxess announced that its Board of Directors has initiated a stock repurchase program on Tuesday, August 6th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the financial services provider to purchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

MarketAxess Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be given a $0.74 dividend. 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 (DPR) is 40.11%.

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.