Q2 2024 EPS Estimates for MarketAxess Holdings Inc. (NASDAQ:MKTX) Decreased by Analyst

MarketAxess Holdings Inc. (NASDAQ:MKTX) – Investment analysts at Zacks Research lowered their Q2 2024 earnings per share estimates for shares of MarketAxess in a note issued to investors on Tuesday, May 21st. Zacks Research analyst D. Chatterjee now forecasts that the financial services provider will earn $1.71 per share for the quarter, down from their previous forecast of $1.75. The consensus estimate for MarketAxess’ current full-year earnings is $7.17 per share. Zacks Research also issued estimates for MarketAxess’ Q3 2024 earnings at $1.68 EPS, Q4 2024 earnings at $1.80 EPS, FY2024 earnings at $7.11 EPS, Q2 2025 earnings at $1.89 EPS, Q4 2025 earnings at $2.16 EPS, FY2025 earnings at $8.00 EPS and FY2026 earnings at $8.96 EPS.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.85 by $0.07. The company had revenue of $210.30 million for the quarter, compared to the consensus estimate of $212.99 million. MarketAxess had a return on equity of 20.82% and a net margin of 33.83%. MarketAxess’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.96 EPS.

A number of other equities analysts also recently issued reports on the company. Piper Sandler dropped their price target on MarketAxess from $250.00 to $237.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Barclays dropped their price target on MarketAxess from $236.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 8th. The Goldman Sachs Group dropped their price target on MarketAxess from $263.00 to $225.00 and set a “neutral” rating on the stock in a research report on Thursday, February 1st. Morgan Stanley increased their price target on MarketAxess from $278.00 to $279.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods dropped their price target on MarketAxess from $235.00 to $230.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $249.73.

MarketAxess Stock Up 1.1 %

Shares of MarketAxess stock opened at $216.89 on Thursday. The stock’s fifty day moving average is $212.20 and its two-hundred day moving average is $234.09. The company has a market capitalization of $8.22 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 5.50 and a beta of 0.98. MarketAxess has a 52 week low of $198.01 and a 52 week high of $297.97.

MarketAxess Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Tuesday, May 21st. MarketAxess’s dividend payout ratio (DPR) is presently 43.47%.

Institutional Investors Weigh In On MarketAxess

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MKTX. Nordea Investment Management AB raised its stake in shares of MarketAxess by 316.1% in the fourth quarter. Nordea Investment Management AB now owns 11,546 shares of the financial services provider’s stock worth $3,367,000 after purchasing an additional 8,771 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of MarketAxess by 27.9% in the fourth quarter. New York State Common Retirement Fund now owns 96,476 shares of the financial services provider’s stock worth $28,253,000 after purchasing an additional 21,041 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of MarketAxess by 28,547.8% in the fourth quarter. International Assets Investment Management LLC now owns 13,178 shares of the financial services provider’s stock worth $3,859,000 after purchasing an additional 13,132 shares during the last quarter. Norris Perne & French LLP MI purchased a new position in shares of MarketAxess in the fourth quarter worth about $9,715,000. Finally, Teacher Retirement System of Texas raised its stake in shares of MarketAxess by 29.9% in the fourth quarter. Teacher Retirement System of Texas now owns 272,870 shares of the financial services provider’s stock worth $79,910,000 after purchasing an additional 62,736 shares during the last quarter. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

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.