FY2024 EPS Estimates for MarketAxess Holdings Inc. (NASDAQ:MKTX) Reduced by Analyst

MarketAxess Holdings Inc. (NASDAQ:MKTX) – Equities research analysts at William Blair reduced their FY2024 EPS estimates for shares of MarketAxess in a research report issued on Tuesday, May 7th. William Blair analyst J. Schmitt now anticipates that the financial services provider will post earnings of $7.05 per share for the year, down from their prior estimate of $7.20. William Blair 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.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.07. The company had revenue of $210.30 million during the quarter, compared to analyst estimates of $212.99 million. MarketAxess had a return on equity of 21.76% and a net margin of 34.29%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.96 earnings per share.

Other equities analysts have also issued research reports about the stock. Barclays lowered their price objective on shares of MarketAxess from $236.00 to $225.00 and set an “equal weight” rating for the company in a research report on Wednesday. Piper Sandler dropped their price target on MarketAxess from $250.00 to $237.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. The Goldman Sachs Group decreased their price objective on MarketAxess from $263.00 to $225.00 and set a “neutral” rating on the stock in a research report on Thursday, February 1st. Rosenblatt Securities dropped their target price on MarketAxess from $229.00 to $210.00 and set a “sell” rating for the company in a report on Thursday, February 1st. Finally, Keefe, Bruyette & Woods lowered their price target on MarketAxess from $235.00 to $230.00 and set a “market perform” rating for the company in a research report on Wednesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, MarketAxess currently has a consensus rating of “Hold” and a consensus target price of $249.73.

MarketAxess Stock Performance

NASDAQ MKTX opened at $202.21 on Thursday. The stock has a 50 day moving average price of $213.04 and a 200-day moving average price of $234.73. MarketAxess has a one year low of $198.01 and a one year high of $303.85. The company has a market capitalization of $7.60 billion, a P/E ratio of 29.52, a P/E/G ratio of 4.26 and a beta of 0.98.

MarketAxess Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors 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 annualized dividend and a yield of 1.46%. MarketAxess’s dividend payout ratio (DPR) is 43.21%.

Insider Activity at MarketAxess

In related news, CRO Kevin M. Mcpherson sold 2,000 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $221.26, for a total value of $442,520.00. Following the completion of the transaction, the executive now directly owns 70,092 shares of the company’s stock, valued at approximately $15,508,555.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MarketAxess

Several hedge funds have recently made changes to their positions in MKTX. Vanguard Group Inc. raised its position in MarketAxess by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 4,526,422 shares of the financial services provider’s stock worth $1,325,563,000 after buying an additional 34,197 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of MarketAxess by 2.0% during the third quarter. Royal Bank of Canada now owns 1,705,958 shares of the financial services provider’s stock worth $364,462,000 after purchasing an additional 33,288 shares during the last quarter. Van ECK Associates Corp boosted its holdings in 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 purchasing an additional 290,347 shares during the last quarter. Primecap Management Co. CA grew its position in MarketAxess by 0.4% during the 4th quarter. Primecap Management Co. CA now owns 1,122,560 shares of the financial services provider’s stock worth $328,742,000 after purchasing an additional 4,340 shares during the period. Finally, Wasatch Advisors LP raised its stake in shares of MarketAxess by 40.0% during the 1st quarter. Wasatch Advisors LP now owns 716,689 shares of the financial services provider’s stock valued at $157,134,000 after buying an additional 204,660 shares during the last quarter. 99.01% of the stock is owned by institutional investors and hedge funds.

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.