MarketAxess (NASDAQ:MKTX) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Share on StockTwits

MarketAxess (NASDAQ:MKTX) issued its earnings results on Wednesday, January 30th. The financial services provider reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.06, MarketWatch Earnings reports. The firm had revenue of $112.44 million for the quarter, compared to analysts’ expectations of $112.37 million. MarketAxess had a net margin of 39.69% and a return on equity of 30.31%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 earnings per share.

NASDAQ:MKTX opened at $228.23 on Thursday. MarketAxess has a 52-week low of $172.09 and a 52-week high of $231.33. The firm has a market cap of $8.40 billion, a PE ratio of 49.94, a PEG ratio of 8.53 and a beta of 0.11.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 27th. Stockholders of record on Wednesday, February 13th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Tuesday, February 12th. This is an increase from MarketAxess’s previous quarterly dividend of $0.42. MarketAxess’s payout ratio is 36.76%.

MKTX has been the subject of several recent research reports. Zacks Investment Research downgraded MarketAxess from a “hold” rating to a “sell” rating in a report on Friday, January 11th. BidaskClub raised MarketAxess from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Buckingham Research started coverage on MarketAxess in a report on Thursday, January 10th. They issued a “neutral” rating for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $215.50.

In related news, insider Kevin M. Mcpherson sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $216.89, for a total transaction of $542,225.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Richard M. Mcvey sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $220.94, for a total value of $4,418,800.00. Following the transaction, the chief executive officer now directly owns 1,023,640 shares in the company, valued at $226,163,021.60. The disclosure for this sale can be found here. Insiders have sold a total of 25,687 shares of company stock valued at $5,648,206 in the last quarter. Company insiders own 3.52% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in MKTX. Northern Trust Corp raised its position in shares of MarketAxess by 1.6% in the 2nd quarter. Northern Trust Corp now owns 308,293 shares of the financial services provider’s stock valued at $60,999,000 after purchasing an additional 4,769 shares in the last quarter. Royal London Asset Management Ltd. acquired a new position in shares of MarketAxess in the 2nd quarter valued at approximately $606,000. Atria Investments LLC raised its position in shares of MarketAxess by 25.6% in the 3rd quarter. Atria Investments LLC now owns 1,358 shares of the financial services provider’s stock valued at $242,000 after purchasing an additional 277 shares in the last quarter. First Hawaiian Bank acquired a new position in shares of MarketAxess in the 3rd quarter valued at approximately $113,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of MarketAxess by 42.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,000 shares of the financial services provider’s stock valued at $1,963,000 after acquiring an additional 3,300 shares during the last quarter. 99.19% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION WARNING: This piece of content was originally posted by Highlight Press and is owned by of Highlight Press. If you are reading this piece of content on another website, it was copied illegally and republished in violation of international copyright and trademark legislation. The original version of this piece of content can be accessed at https://highlightpress.com/2019/02/14/marketaxess-mktx-announces-quarterly-earnings-results.html.

About MarketAxess

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 the access to global liquidity in U.S.

Featured Story: What is channel trading?

Earnings History for MarketAxess (NASDAQ:MKTX)

Receive News & Ratings for MarketAxess Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MarketAxess and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply