MarketAxess (NASDAQ:MKTX) Releases Quarterly Earnings Results, Beats Expectations By $0.17 EPS

MarketAxess (NASDAQ:MKTX) announced its earnings results on Wednesday. The financial services provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.17, Briefing.com reports. The company had revenue of $131.60 million during the quarter, compared to the consensus estimate of $130.00 million. MarketAxess had a return on equity of 29.85% and a net margin of 39.89%. The company’s revenue was up 29.8% on a year-over-year basis. During the same period last year, the firm earned $1.02 earnings per share.

NASDAQ:MKTX traded up $7.28 during mid-day trading on Thursday, reaching $349.46. The stock had a trading volume of 246,700 shares, compared to its average volume of 369,914. The company has a market capitalization of $12.86 billion, a price-to-earnings ratio of 76.47 and a beta of 0.14. MarketAxess has a 1-year low of $199.04 and a 1-year high of $421.45. The stock’s 50 day simple moving average is $349.99 and its two-hundred day simple moving average is $328.52. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.05 and a quick ratio of 10.05.

In related news, CEO Richard M. Mcvey sold 20,000 shares of MarketAxess stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $350.07, for a total value of $7,001,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,044,249 shares in the company, valued at $365,560,247.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen P. Casper sold 1,000 shares of MarketAxess stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $402.82, for a total value of $402,820.00. Following the completion of the transaction, the director now owns 13,567 shares of the company’s stock, valued at $5,465,058.94. The disclosure for this sale can be found here. Insiders sold 23,750 shares of company stock valued at $8,359,543 over the last quarter. Insiders own 3.28% of the company’s stock.

Several analysts have recently weighed in on the company. BidaskClub downgraded MarketAxess from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Argus assumed coverage on MarketAxess in a research note on Thursday, August 29th. They set a “hold” rating for the company. Barclays set a $325.00 target price on MarketAxess and gave the company a “hold” rating in a research note on Friday, October 11th. Buckingham Research raised their target price on MarketAxess from $241.00 to $249.00 and gave the company an “underperform” rating in a research note on Thursday, October 3rd. Finally, ValuEngine downgraded MarketAxess from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $294.17.

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 firms the access to global liquidity in U.S.

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Earnings History for MarketAxess (NASDAQ:MKTX)

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