MarketAxess Holdings Inc. (MKTX) Expected to Post Quarterly Sales of $108.55 Million

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Wall Street brokerages expect MarketAxess Holdings Inc. (NASDAQ:MKTX) to post sales of $108.55 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for MarketAxess’ earnings, with the highest sales estimate coming in at $111.40 million and the lowest estimate coming in at $105.70 million. MarketAxess reported sales of $97.31 million during the same quarter last year, which indicates a positive year-over-year growth rate of 11.6%. The business is scheduled to issue its next quarterly earnings report on Wednesday, July 25th.

According to Zacks, analysts expect that MarketAxess will report full-year sales of $442.60 million for the current year, with estimates ranging from $435.60 million to $449.60 million. For the next year, analysts anticipate that the firm will post sales of $506.00 million per share, with estimates ranging from $489.00 million to $523.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow MarketAxess.

MarketAxess (NASDAQ:MKTX) last released its earnings results on Wednesday, April 25th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.05. MarketAxess had a return on equity of 29.82% and a net margin of 37.61%. The firm had revenue of $114.71 million during the quarter, compared to analysts’ expectations of $114.45 million. During the same quarter last year, the business posted $1.11 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis.

Several analysts recently issued reports on the company. Zacks Investment Research upgraded MarketAxess from a “sell” rating to a “hold” rating in a research report on Wednesday, June 13th. BidaskClub upgraded MarketAxess from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 16th. ValuEngine cut MarketAxess from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. Sandler O’Neill reiterated a “hold” rating and set a $215.00 target price on shares of MarketAxess in a research report on Wednesday, April 4th. Finally, Keefe, Bruyette & Woods cut MarketAxess from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 12th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $214.50.

In related news, Director David G. Gomach sold 7,553 shares of the stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $204.90, for a total transaction of $1,547,609.70. Following the completion of the transaction, the director now directly owns 259 shares of the company’s stock, valued at $53,069.10. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Richard M. Mcvey sold 35,000 shares of the stock in a transaction that occurred on Wednesday, May 9th. The shares were sold at an average price of $203.22, for a total value of $7,112,700.00. The disclosure for this sale can be found here. 3.52% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. TLP Group LLC bought a new position in MarketAxess during the first quarter valued at approximately $204,000. Gideon Capital Advisors Inc. bought a new position in MarketAxess during the first quarter valued at approximately $211,000. Parametrica Management Ltd bought a new position in MarketAxess during the first quarter valued at approximately $223,000. Atria Investments LLC bought a new position in MarketAxess during the first quarter valued at approximately $334,000. Finally, Traynor Capital Management Inc. boosted its stake in MarketAxess by 21.4% during the first quarter. Traynor Capital Management Inc. now owns 1,591 shares of the financial services provider’s stock valued at $346,000 after buying an additional 280 shares during the last quarter. 99.90% of the stock is owned by institutional investors.

NASDAQ:MKTX opened at $211.00 on Friday. MarketAxess has a 12-month low of $171.45 and a 12-month high of $229.84. The stock has a market cap of $7.88 billion, a P/E ratio of 54.10 and a beta of 0.58.

MarketAxess Company Profile

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments worldwide. It offers institutional investor and broker-dealer the access to global liquidity in U.S.

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Earnings History and Estimates for MarketAxess (NASDAQ:MKTX)

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