MarketAxess (MKTX) to Release Quarterly Earnings on Thursday

MarketAxess (NASDAQ:MKTX) will likely be announcing its earnings results before the market opens on Thursday, February 6th. Analysts expect the company to announce earnings of $1.70 per share and revenue of $202.65 million for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.05. MarketAxess had a net margin of 34.32% and a return on equity of 20.93%. The firm had revenue of $206.70 million for the quarter, compared to the consensus estimate of $207.17 million. During the same period last year, the firm earned $1.46 earnings per share. The company’s quarterly revenue was up 20.0% on a year-over-year basis. On average, analysts expect MarketAxess to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

MarketAxess Stock Performance

NASDAQ MKTX opened at $218.99 on Thursday. The company has a market cap of $8.26 billion, a PE ratio of 29.67, a P/E/G ratio of 4.58 and a beta of 1.03. MarketAxess has a 52-week low of $192.42 and a 52-week high of $296.68. The firm’s 50 day moving average price is $233.69 and its 200-day moving average price is $247.55.

Insider Transactions at MarketAxess

In related news, Chairman Richard M. Mcvey sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $271.75, for a total transaction of $5,435,000.00. Following the completion of the transaction, the chairman now owns 592,029 shares of the company’s stock, valued at $160,883,880.75. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Scott Pintoff sold 300 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $240.57, for a total transaction of $72,171.00. Following the transaction, the general counsel now directly owns 8,302 shares of the company’s stock, valued at approximately $1,997,212.14. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,300 shares of company stock worth $8,183,871. Company insiders own 2.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on MKTX shares. Keefe, Bruyette & Woods lowered their target price on shares of MarketAxess from $255.00 to $251.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Citigroup raised their target price on shares of MarketAxess from $310.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Morgan Stanley raised their target price on shares of MarketAxess from $262.00 to $314.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. UBS Group raised their target price on shares of MarketAxess from $330.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Piper Sandler lowered their target price on shares of MarketAxess from $265.00 to $240.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, MarketAxess has a consensus rating of “Hold” and an average target price of $261.30.

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.