MarketAxess (NASDAQ:MKTX) Price Target Lowered to $383.00 at Rosenblatt Securities

MarketAxess (NASDAQ:MKTXGet Rating) had its target price decreased by Rosenblatt Securities from $460.00 to $383.00 in a report issued on Thursday morning, Marketbeat reports. Rosenblatt Securities currently has a buy rating on the financial services provider’s stock.

MKTX has been the subject of a number of other reports. Credit Suisse Group decreased their price objective on MarketAxess from $412.00 to $372.00 and set a neutral rating for the company in a research note on Wednesday, April 6th. Raymond James cut MarketAxess from an outperform rating to a market perform rating in a research note on Wednesday, April 6th. Morgan Stanley decreased their price objective on MarketAxess from $402.00 to $367.00 and set an equal weight rating for the company in a research note on Wednesday, April 13th. Deutsche Bank Aktiengesellschaft reduced their target price on MarketAxess from $384.00 to $314.00 in a report on Thursday, April 7th. Finally, Compass Point lowered MarketAxess from a neutral rating to a sell rating and set a $300.00 target price on the stock. in a report on Thursday, January 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and a consensus target price of $378.56.

MKTX stock opened at $265.45 on Thursday. The business has a fifty day moving average price of $345.99 and a 200 day moving average price of $371.78. MarketAxess has a fifty-two week low of $265.30 and a fifty-two week high of $545.77. The stock has a market capitalization of $10.04 billion, a price-to-earnings ratio of 39.21 and a beta of 0.41.

MarketAxess (NASDAQ:MKTXGet Rating) last released its earnings results on Wednesday, January 26th. The financial services provider reported $1.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.43 by ($0.06). The firm had revenue of $165.10 million during the quarter, compared to analyst estimates of $164.04 million. MarketAxess had a net margin of 36.90% and a return on equity of 25.12%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period last year, the business posted $1.91 earnings per share. As a group, equities research analysts forecast that MarketAxess will post 7.2 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 23rd. Stockholders of record on Wednesday, February 9th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.05%. This is a positive change from MarketAxess’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Tuesday, February 8th. MarketAxess’s payout ratio is 41.36%.

Institutional investors have recently modified their holdings of the company. Epoch Investment Partners Inc. lifted its holdings in shares of MarketAxess by 196.2% in the third quarter. Epoch Investment Partners Inc. now owns 63,284 shares of the financial services provider’s stock valued at $26,623,000 after purchasing an additional 41,921 shares in the last quarter. US Bancorp DE lifted its holdings in shares of MarketAxess by 2.6% in the third quarter. US Bancorp DE now owns 16,717 shares of the financial services provider’s stock valued at $7,033,000 after purchasing an additional 421 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of MarketAxess by 35.6% in the third quarter. Raymond James & Associates now owns 59,496 shares of the financial services provider’s stock valued at $25,029,000 after purchasing an additional 15,636 shares in the last quarter. Stevens Capital Management LP bought a new stake in shares of MarketAxess in the fourth quarter valued at about $461,000. Finally, CWM LLC bought a new stake in shares of MarketAxess in the fourth quarter valued at about $113,000. Institutional investors own 98.19% of the company’s stock.

MarketAxess Company Profile (Get Rating)

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. It offers the access to liquidity in the U.S. investment-grade bonds, U.S. high-yield bonds, and U.S. Treasuries, as well as municipal bonds, emerging market debts, Eurobonds, and other fixed income securities.

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