MarketAxess Holdings Inc. to Post Q3 2024 Earnings of $1.85 Per Share, William Blair Forecasts (NASDAQ:MKTX)

MarketAxess Holdings Inc. (NASDAQ:MKTX) – Equities researchers at William Blair increased their Q3 2024 earnings per share (EPS) estimates for MarketAxess in a report released on Monday, October 14th. William Blair analyst J. Schmitt now anticipates that the financial services provider will earn $1.85 per share for the quarter, up from their previous estimate 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.

A number of other research analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of MarketAxess from $218.00 to $223.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Bank of America dropped their price objective on MarketAxess from $193.00 to $185.00 and set an “underperform” rating on the stock in a report on Thursday, October 3rd. Keefe, Bruyette & Woods raised their target price on MarketAxess from $222.00 to $225.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. Piper Sandler upped their price target on shares of MarketAxess from $235.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group raised their price objective on shares of MarketAxess from $204.00 to $233.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $249.80.

MarketAxess Price Performance

MarketAxess stock opened at $288.26 on Wednesday. The business has a 50 day simple moving average of $251.29 and a 200-day simple moving average of $223.86. MarketAxess has a 12 month low of $192.42 and a 12 month 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. The stock has a market capitalization of $10.92 billion, a PE ratio of 42.33, a price-to-earnings-growth ratio of 7.24 and a beta of 1.08.

MarketAxess (NASDAQ:MKTX) last announced its earnings results on Tuesday, August 6th. The financial services provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.04. MarketAxess had a net margin of 33.71% and a return on equity of 20.43%. The business had revenue of $197.70 million during the quarter, compared to analysts’ expectations of $198.07 million. During the same period in the prior year, the company earned $1.63 earnings per share. The business’s revenue was up 9.9% compared to the same quarter last year.

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

Insider Buying and Selling at MarketAxess

In related news, insider Christophe Pierre Danie Roupie sold 617 shares of the 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 sale, the insider now owns 7,409 shares of the company’s stock, valued at $1,716,146.67. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MKTX. Goodman Advisory Group LLC purchased a new stake in shares of MarketAxess during the 2nd quarter valued at $27,000. Larson Financial Group LLC boosted its holdings in shares of MarketAxess by 2,428.6% during the first quarter. Larson Financial Group LLC now owns 177 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 170 shares during the period. Blue Trust Inc. grew its position in MarketAxess by 405.1% in the 2nd quarter. Blue Trust Inc. now owns 197 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 158 shares during the last quarter. CVA Family Office LLC grew its holdings in MarketAxess by 47.4% in the 2nd quarter. CVA Family Office LLC now owns 252 shares of the financial services provider’s stock worth $51,000 after buying an additional 81 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in MarketAxess in the 3rd quarter worth approximately $54,000. Hedge funds and other institutional investors own 99.01% of the company’s stock.

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.