MarketAxess Holdings Inc. (NASDAQ:MKTX) Expected to Post Q3 2024 Earnings of $1.85 Per Share

MarketAxess Holdings Inc. (NASDAQ:MKTX) – Stock analysts at William Blair boosted their Q3 2024 earnings per share (EPS) estimates for shares of MarketAxess in a research report issued on Monday, October 14th. William Blair analyst J. Schmitt now forecasts that the financial services provider will post earnings of $1.85 per share for the quarter, up from their previous 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 posted its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.68 by $0.04. MarketAxess had a return on equity of 20.43% and a net margin of 33.71%. The company had revenue of $197.70 million during the quarter, compared to analyst estimates of $198.07 million. During the same period in the previous year, the business earned $1.63 EPS. MarketAxess’s quarterly revenue was up 9.9% on a year-over-year basis.

Other equities analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft upped their price target on MarketAxess from $218.00 to $223.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Piper Sandler increased their target price on MarketAxess from $235.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Citigroup increased their price target on MarketAxess from $310.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, October 4th. The Goldman Sachs Group increased their price target on MarketAxess from $204.00 to $233.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. Finally, StockNews.com raised MarketAxess from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $249.80.

MarketAxess Trading Up 1.5 %

Shares of MarketAxess stock opened at $292.46 on Wednesday. The stock has a market cap of $11.08 billion, a P/E ratio of 42.87, a P/E/G ratio of 7.24 and a beta of 1.08. The stock’s 50 day simple moving average is $252.37 and its 200-day simple moving average is $224.34. MarketAxess has a 1-year low of $192.42 and a 1-year high of $297.97. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.91 and a quick ratio of 2.91.

Institutional Investors Weigh In On MarketAxess

Hedge funds and other institutional investors have recently made changes to their positions in the business. GUARDCAP ASSET MANAGEMENT Ltd grew its position in MarketAxess by 30.3% during the first quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 2,425,897 shares of the financial services provider’s stock valued at $531,878,000 after acquiring an additional 564,820 shares during the period. Millennium Management LLC raised its holdings in MarketAxess by 2,889.6% during the second quarter. Millennium Management LLC now owns 339,261 shares of the financial services provider’s stock worth $68,032,000 after purchasing an additional 327,913 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of MarketAxess by 21.2% in the first 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. Marshall Wace LLP lifted its stake in MarketAxess by 53.5% during the second quarter. Marshall Wace LLP now owns 820,060 shares of the financial services provider’s stock valued at $164,447,000 after buying an additional 285,665 shares in the last quarter. Finally, Burgundy Asset Management Ltd. increased its holdings in shares of MarketAxess by 120.6% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 393,073 shares of the financial services provider’s stock valued at $78,823,000 after purchasing an additional 214,928 shares during the period. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Insider Activity

In related news, insider Christophe Pierre Danie Roupie sold 617 shares of MarketAxess stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $231.63, for a total transaction of $142,915.71. Following the completion of the transaction, the insider now directly owns 7,409 shares of the company’s stock, valued at approximately $1,716,146.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.66% of the company’s stock.

MarketAxess announced that its board has authorized a share buyback program on Tuesday, August 6th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the financial services provider to repurchase up to 2.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.