MarketAxess Holdings Inc. (MKTX) To Go Ex-Dividend on November 20th

MarketAxess Holdings Inc. (NASDAQ:MKTX) announced a quarterly dividend on Thursday, October 17th,RTT News reports. Shareholders of record on Wednesday, November 20th will be paid a dividend of 0.74 per share by the financial services provider on Wednesday, December 4th. This represents a $2.96 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Wednesday, November 20th.

MarketAxess has increased its dividend by an average of 6.3% annually over the last three years and has increased its dividend every year for the last 16 years. MarketAxess has a dividend payout ratio of 35.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect MarketAxess to earn $8.18 per share next year, which means the company should continue to be able to cover its $2.96 annual dividend with an expected future payout ratio of 36.2%.

MarketAxess Trading Down 1.3 %

Shares of NASDAQ:MKTX opened at $261.65 on Monday. MarketAxess has a 12-month low of $192.42 and a 12-month high of $297.97. The business’s fifty day simple moving average is $272.48 and its 200-day simple moving average is $235.98. The company has a market capitalization of $9.86 billion, a PE ratio of 35.45, a P/E/G ratio of 11.81 and a beta of 1.05.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.05. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. The business had revenue of $206.70 million for the quarter, compared to the consensus estimate of $207.17 million. During the same period last year, the business posted $1.46 EPS. The business’s revenue was up 20.0% compared to the same quarter last year. Research analysts predict that MarketAxess will post 7.33 EPS for the current year.

Insider Buying and Selling at MarketAxess

In other MarketAxess news, Chairman Richard M. Mcvey sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $267.67, for a total transaction of $2,676,700.00. Following the completion of the transaction, the chairman now owns 562,029 shares of the company’s stock, valued at $150,438,302.43. This represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.66% of the company’s stock.

MarketAxess declared that its Board of Directors has initiated a share buyback plan on Tuesday, August 6th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MKTX. UBS Group boosted their target price on MarketAxess from $330.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods boosted their target price on MarketAxess from $270.00 to $276.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Barclays boosted their target price on MarketAxess from $237.00 to $268.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. The Goldman Sachs Group boosted their target price on MarketAxess from $204.00 to $233.00 and gave the stock a “neutral” rating in a research note on Monday, September 30th. Finally, Citigroup boosted their price target on MarketAxess from $310.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $267.50.

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.