FY2024 Earnings Estimate for MarketAxess Holdings Inc. Issued By William Blair (NASDAQ:MKTX)

MarketAxess Holdings Inc. (NASDAQ:MKTX) – William Blair reduced their FY2024 EPS estimates for shares of MarketAxess in a note issued to investors on Tuesday, May 7th. William Blair analyst J. Schmitt now expects that the financial services provider will earn $7.05 per share for the year, down from their prior estimate of $7.20. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for MarketAxess’ current full-year earnings is $7.28 per share. William Blair also issued estimates for MarketAxess’ Q4 2024 earnings at $1.83 EPS, Q2 2025 earnings at $1.91 EPS, Q4 2025 earnings at $2.13 EPS and FY2025 earnings at $8.00 EPS.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.07. The business had revenue of $210.30 million for the quarter, compared to analyst estimates of $212.99 million. MarketAxess had a net margin of 34.29% and a return on equity of 21.76%. MarketAxess’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.96 EPS.

MKTX has been the subject of a number of other research reports. Morgan Stanley boosted their price objective on shares of MarketAxess from $278.00 to $279.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Piper Sandler reduced their price target on MarketAxess from $250.00 to $237.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Bank of America initiated coverage on MarketAxess in a report on Wednesday, April 10th. They issued an “underperform” rating and a $199.00 price objective for the company. UBS Group reduced their target price on MarketAxess from $305.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Keefe, Bruyette & Woods dropped their price target on MarketAxess from $235.00 to $230.00 and set a “market perform” rating for the company in a research note on Wednesday. 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, the stock presently has a consensus rating of “Hold” and an average price target of $249.73.

MarketAxess Trading Up 1.3 %

Shares of NASDAQ MKTX opened at $204.82 on Thursday. The firm has a market cap of $7.70 billion, a P/E ratio of 29.90, a price-to-earnings-growth ratio of 4.26 and a beta of 0.98. The business’s 50 day moving average is $212.86 and its 200-day moving average is $234.52. MarketAxess has a 1-year low of $198.01 and a 1-year high of $303.85.

MarketAxess Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Tuesday, May 21st. MarketAxess’s payout ratio is currently 43.21%.

Insider Activity at MarketAxess

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

Hedge Funds Weigh In On MarketAxess

A number of hedge funds and other institutional investors have recently made changes to their positions in MKTX. Vanguard Group Inc. lifted its holdings in MarketAxess by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 4,526,422 shares of the financial services provider’s stock valued at $1,325,563,000 after purchasing an additional 34,197 shares during the last quarter. Royal Bank of Canada raised its position in shares of MarketAxess by 2.0% in the third quarter. Royal Bank of Canada now owns 1,705,958 shares of the financial services provider’s stock valued at $364,462,000 after purchasing an additional 33,288 shares during the period. Van ECK Associates Corp lifted its stake in shares of MarketAxess by 21.2% during the 1st quarter. Van ECK Associates Corp now owns 1,657,960 shares of the financial services provider’s stock valued at $363,508,000 after buying an additional 290,347 shares in the last quarter. Primecap Management Co. CA boosted its holdings in MarketAxess by 0.4% in the 4th quarter. Primecap Management Co. CA now owns 1,122,560 shares of the financial services provider’s stock worth $328,742,000 after buying an additional 4,340 shares during the period. Finally, Wasatch Advisors LP grew its stake in MarketAxess by 40.0% in the 1st quarter. Wasatch Advisors LP now owns 716,689 shares of the financial services provider’s stock valued at $157,134,000 after buying an additional 204,660 shares in the last quarter. 99.01% of the stock is owned by hedge funds and other institutional investors.

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.