MarketAxess Holdings Inc. (MKTX) to Issue Quarterly Dividend of $0.74 on June 5th

MarketAxess Holdings Inc. (NASDAQ:MKTX) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Shareholders of record on Wednesday, May 22nd will be paid a dividend of 0.74 per share by the financial services provider on Wednesday, June 5th. This represents a $2.96 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Tuesday, May 21st.

MarketAxess has increased its dividend by an average of 6.3% annually over the last three years and has increased its dividend annually for the last 16 consecutive years. MarketAxess has a payout ratio of 36.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect MarketAxess to earn $8.14 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 36.4%.

MarketAxess Price Performance

Shares of MKTX opened at $202.21 on Thursday. The company has a market capitalization of $7.60 billion, a price-to-earnings ratio of 29.52, a P/E/G ratio of 4.26 and a beta of 0.98. The business’s 50-day moving average is $213.04 and its 200-day moving average is $234.73. MarketAxess has a fifty-two week low of $198.01 and a fifty-two week high of $303.85.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.07. MarketAxess had a net margin of 34.29% and a return on equity of 21.76%. The firm had revenue of $210.30 million for the quarter, compared to analyst estimates of $212.99 million. During the same quarter in the prior year, the business earned $1.96 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities research analysts expect that MarketAxess will post 7.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MKTX has been the subject of several recent research reports. Rosenblatt Securities cut their price objective on MarketAxess from $229.00 to $210.00 and set a “sell” rating for the company in a report on Thursday, February 1st. Bank of America started coverage on MarketAxess in a research report on Wednesday, April 10th. They issued an “underperform” rating and a $199.00 target price on the stock. Piper Sandler reduced their price target on MarketAxess from $250.00 to $237.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Barclays dropped their price objective on MarketAxess from $236.00 to $225.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, UBS Group cut their price objective on shares of MarketAxess from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, MarketAxess currently has an average rating of “Hold” and an average price target of $249.73.

Insider Activity

In related news, CRO Kevin M. Mcpherson sold 2,000 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $221.26, for a total value of $442,520.00. Following the transaction, the executive now directly owns 70,092 shares in the company, valued at approximately $15,508,555.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.66% of the company’s stock.

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.