Q3 Earnings Forecast for MarketAxess Issued By William Blair

MarketAxess Holdings Inc. (NASDAQ:MKTX) – Equities researchers at William Blair raised their Q3 2024 EPS estimates for shares of MarketAxess in a note issued to investors on Monday, October 14th. William Blair analyst J. Schmitt now forecasts that the financial services provider will earn $1.85 per share for the quarter, up from their prior forecast of $1.66. The consensus estimate for MarketAxess’ current full-year earnings is $7.16 per share. William Blair also issued estimates for MarketAxess’ Q4 2024 earnings at $1.74 EPS, FY2024 earnings at $7.23 EPS and FY2026 earnings at $9.20 EPS.

MarketAxess (NASDAQ:MKTX) last released its earnings results on Tuesday, August 6th. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.04. The firm had revenue of $197.70 million for the quarter, compared to the consensus estimate of $198.07 million. MarketAxess had a net margin of 33.71% and a return on equity of 20.43%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 EPS.

MKTX has been the topic of a number of other reports. Bank of America reduced 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. Keefe, Bruyette & Woods increased their price objective on shares of MarketAxess from $222.00 to $225.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. Barclays increased their price objective on shares of MarketAxess from $237.00 to $268.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. The Goldman Sachs Group increased their price objective on shares of MarketAxess from $204.00 to $233.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. Finally, Morgan Stanley increased their price objective on shares of MarketAxess from $262.00 to $314.00 and gave the company an “equal weight” rating in a research report on Thursday. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $253.30.

MarketAxess Stock Down 0.6 %

NASDAQ:MKTX opened at $290.78 on Wednesday. The firm’s 50-day moving average price is $253.63 and its 200-day moving average price is $224.82. The company has a market capitalization of $11.02 billion, a PE ratio of 42.70, a P/E/G ratio of 7.24 and a beta of 1.08. 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.

MarketAxess declared that its Board of Directors has authorized a stock buyback program on Tuesday, August 6th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 2.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at MarketAxess

In other MarketAxess news, insider Christophe Pierre Danie Roupie sold 617 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $231.63, for a total transaction of $142,915.71. Following the transaction, the insider now owns 7,409 shares in the company, valued at approximately $1,716,146.67. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.66% of the company’s stock.

Hedge Funds Weigh In On MarketAxess

Institutional investors have recently made changes to their positions in the business. Goodman Advisory Group LLC bought a new position in shares of MarketAxess in the 2nd quarter worth approximately $27,000. Larson Financial Group LLC lifted its stake in shares of MarketAxess by 2,428.6% in the 1st quarter. Larson Financial Group LLC now owns 177 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 170 shares during the period. Blue Trust Inc. lifted its stake in shares of MarketAxess by 405.1% in the 2nd quarter. Blue Trust Inc. now owns 197 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 158 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of MarketAxess in the 3rd quarter worth approximately $54,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of MarketAxess by 555.6% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 236 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 200 shares during the period. Institutional investors own 99.01% of the company’s stock.

About MarketAxess

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.