Equities Analysts Set Expectations for MarketAxess Holdings Inc.’s FY2024 Earnings (NASDAQ:MKTX)

MarketAxess Holdings Inc. (NASDAQ:MKTX) – Investment analysts at William Blair dropped their FY2024 earnings estimates for MarketAxess in a report released on Tuesday, May 7th. William Blair analyst J. Schmitt now expects that the financial services provider will post earnings per share of $7.05 for the year, down from their previous forecast 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.

Several other research firms have also weighed in on MKTX. Rosenblatt Securities dropped their price objective on shares of MarketAxess from $229.00 to $210.00 and set a “sell” rating on the stock in a research note on Thursday, February 1st. Piper Sandler reduced their price objective on MarketAxess from $250.00 to $237.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Morgan Stanley lifted their price target on MarketAxess from $278.00 to $279.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. The Goldman Sachs Group decreased their target price on shares of MarketAxess from $263.00 to $225.00 and set a “neutral” rating for the company in a research report on Thursday, February 1st. Finally, Bank of America initiated coverage on MarketAxess in a report on Wednesday, April 10th. They set an “underperform” rating and a $199.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, MarketAxess has a consensus rating of “Hold” and a consensus target price of $249.73.

MarketAxess Price Performance

NASDAQ:MKTX opened at $202.21 on Thursday. The stock’s 50-day moving average is $213.04 and its two-hundred day moving average is $234.73. The stock has a market cap of $7.60 billion, a PE ratio of 29.52, a price-to-earnings-growth ratio of 4.26 and a beta of 0.98. MarketAxess has a fifty-two week low of $198.01 and a fifty-two week high of $303.85.

MarketAxess (NASDAQ:MKTX) last issued its earnings results on Tuesday, May 7th. The financial services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.85 by $0.07. The business had revenue of $210.30 million during the quarter, compared to analysts’ expectations of $212.99 million. MarketAxess had a return on equity of 21.76% and a net margin of 34.29%. MarketAxess’s revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.96 earnings per share.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Gladius Capital Management LP lifted its stake in MarketAxess by 39.6% in the third quarter. Gladius Capital Management LP now owns 134 shares of the financial services provider’s stock valued at $29,000 after buying an additional 38 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in MarketAxess by 47.3% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 134 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 43 shares during the last quarter. Alliance Wealth Advisors LLC UT boosted its position in shares of MarketAxess by 2.2% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 2,198 shares of the financial services provider’s stock valued at $644,000 after buying an additional 48 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of MarketAxess by 1.4% during the fourth quarter. Fifth Third Bancorp now owns 3,618 shares of the financial services provider’s stock valued at $1,060,000 after buying an additional 50 shares during the last quarter. Finally, Precision Wealth Strategies LLC grew its holdings in MarketAxess by 4.7% during the third quarter. Precision Wealth Strategies LLC now owns 1,167 shares of the financial services provider’s stock worth $249,000 after buying an additional 52 shares in the last quarter. Institutional investors own 99.01% of the company’s stock.

Insiders Place Their Bets

In other MarketAxess news, CRO Kevin M. Mcpherson sold 2,000 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $221.26, for a total transaction of $442,520.00. Following the sale, the executive now owns 70,092 shares of the company’s stock, valued at $15,508,555.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.66% of the company’s stock.

MarketAxess Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd will be paid a dividend of $0.74 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $2.96 dividend on an annualized basis and a yield of 1.46%. MarketAxess’s payout ratio is 43.21%.

MarketAxess Company Profile

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.