MarketAxess Holdings Inc. (NASDAQ:MKTX) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• MarketAxess Holdings Inc. has received an average rating of "Hold" from twelve analysts, with one sell, six hold, and five buy recommendations.
• The company announced a quarterly dividend of $0.76, which will be issued to stockholders of record on August 20th, representing a 1.6% dividend yield.
• MarketAxess reported earnings of $2.00 per share for the last quarter, exceeding expectations and showing a 11.0% revenue growth year-over-year.

Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Get Free Report) have received an average rating of "Hold" from the twelve analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $228.0909.

A number of research firms have recently issued reports on MKTX. Wall Street Zen raised MarketAxess from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Argus raised MarketAxess from a "hold" rating to a "buy" rating and set a $212.00 target price on the stock in a report on Monday. Morgan Stanley dropped their target price on MarketAxess from $283.00 to $274.00 and set an "overweight" rating on the stock in a report on Tuesday, July 15th. Citigroup boosted their target price on MarketAxess from $250.00 to $265.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, Barclays dropped their target price on MarketAxess from $237.00 to $200.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th.

MarketAxess Trading Down 1.2%

MKTX stock opened at $187.51 on Thursday. The company has a market capitalization of $7.01 billion, a P/E ratio of 31.57, a PEG ratio of 3.68 and a beta of 0.84. MarketAxess has a twelve month low of $182.99 and a twelve month high of $296.68. The business has a 50 day simple moving average of $206.70 and a 200-day simple moving average of $211.02.

MarketAxess (NASDAQ:MKTX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.06. The business had revenue of $219.46 million during the quarter, compared to the consensus estimate of $218.05 million. MarketAxess had a return on equity of 20.41% and a net margin of 26.62%.The company's revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.72 earnings per share. Research analysts predict that MarketAxess will post 7.79 EPS for the current fiscal year.

MarketAxess Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.6%. MarketAxess's payout ratio is presently 51.18%.

Institutional Trading of MarketAxess

Several hedge funds have recently modified their holdings of MKTX. MUFG Securities EMEA plc acquired a new stake in shares of MarketAxess in the 2nd quarter valued at approximately $25,000. Geneos Wealth Management Inc. lifted its holdings in shares of MarketAxess by 200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider's stock valued at $26,000 after buying an additional 80 shares during the period. True Wealth Design LLC lifted its holdings in shares of MarketAxess by 992.9% in the 2nd quarter. True Wealth Design LLC now owns 153 shares of the financial services provider's stock valued at $34,000 after buying an additional 139 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of MarketAxess by 49.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 164 shares of the financial services provider's stock valued at $35,000 after buying an additional 54 shares during the period. Finally, Harbor Investment Advisory LLC acquired a new stake in shares of MarketAxess in the 2nd quarter valued at approximately $37,000. 99.01% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.