MarketAxess Holdings Inc. Announces Quarterly Dividend of $0.51 (MKTX)

MarketAxess Holdings Inc. (NASDAQ:MKTX) announced a quarterly dividend on Thursday, April 25th, Wall Street Journal reports. Shareholders of record on Wednesday, May 8th will be paid a dividend of 0.51 per share by the financial services provider on Wednesday, May 22nd. This represents a $2.04 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Tuesday, May 7th.

MarketAxess has increased its dividend by an average of 28.1% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. MarketAxess has a payout ratio of 47.4% meaning its dividend is sufficiently covered by earnings. Analysts expect MarketAxess to earn $5.88 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 34.7%.

MarketAxess stock opened at $265.46 on Friday. The stock has a market capitalization of $9.89 billion, a PE ratio of 58.09, a PEG ratio of 10.26 and a beta of 0.19. MarketAxess has a 12 month low of $172.09 and a 12 month high of $266.90.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.02. The company had revenue of $124.49 million for the quarter, compared to the consensus estimate of $125.43 million. MarketAxess had a return on equity of 30.31% and a net margin of 39.69%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business posted $1.27 EPS. As a group, equities research analysts anticipate that MarketAxess will post 5.12 earnings per share for the current year.

In related news, CFO Antonio L. Delise sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $231.99, for a total transaction of $1,855,920.00. Following the sale, the chief financial officer now directly owns 36,901 shares in the company, valued at approximately $8,560,662.99. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John Steinhardt sold 3,187 shares of the firm’s stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $215.62, for a total value of $687,180.94. Following the sale, the director now owns 24,899 shares in the company, valued at $5,368,722.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,187 shares of company stock worth $6,961,901. Company insiders own 3.52% of the company’s stock.

A number of equities analysts have recently commented on MKTX shares. BidaskClub upgraded MarketAxess from a “hold” rating to a “buy” rating in a report on Tuesday, February 12th. Zacks Investment Research downgraded MarketAxess from a “hold” rating to a “sell” rating in a report on Thursday, January 17th. Buckingham Research started coverage on MarketAxess in a report on Thursday, January 10th. They issued a “neutral” rating on the stock. Rosenblatt Securities started coverage on MarketAxess in a report on Monday, April 15th. They issued a “neutral” rating and a $255.00 price objective on the stock. Finally, Barclays raised their price objective on MarketAxess from $218.00 to $244.00 and gave the stock an “equal weight” rating in a report on Thursday. One analyst has rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. MarketAxess presently has a consensus rating of “Hold” and a consensus target price of $232.33.

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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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Dividend History for MarketAxess (NASDAQ:MKTX)

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