MarketAxess Holdings Inc. (NASDAQ:MKTX) Announces $0.76 Quarterly Dividend

MarketAxess Holdings Inc. (NASDAQ:MKTX) declared a quarterly dividend on Friday, November 7th. Shareholders of record on Wednesday, November 19th will be given a dividend of 0.76 per share by the financial services provider on Wednesday, December 3rd. This represents a c) annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, November 19th.

MarketAxess has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 2 years. MarketAxess has a dividend payout ratio of 35.7% meaning its dividend is sufficiently covered by earnings. Analysts expect MarketAxess to earn $8.72 per share next year, which means the company should continue to be able to cover its $3.04 annual dividend with an expected future payout ratio of 34.9%.

MarketAxess Price Performance

Shares of MKTX stock traded up $1.52 during trading hours on Friday, hitting $167.27. The stock had a trading volume of 1,109,992 shares, compared to its average volume of 669,273. The stock’s 50-day moving average price is $174.49 and its two-hundred day moving average price is $199.56. MarketAxess has a one year low of $156.17 and a one year high of $277.84. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 6.44 and a beta of 0.94.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings data on Friday, November 7th. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.15. The business had revenue of $208.82 million for the quarter, compared to the consensus estimate of $212.59 million. MarketAxess had a return on equity of 20.41% and a net margin of 26.62%.The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.90 EPS. As a group, equities research analysts predict that MarketAxess will post 7.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

MKTX has been the subject of several research reports. Wall Street Zen upgraded shares of MarketAxess from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. UBS Group lowered their price target on shares of MarketAxess from $255.00 to $240.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Argus raised MarketAxess from a “hold” rating to a “buy” rating and set a $212.00 price objective on the stock in a research note on Monday, August 25th. Loop Capital set a $164.00 price objective on MarketAxess in a research report on Tuesday, October 14th. Finally, Piper Sandler set a $180.00 target price on MarketAxess in a report on Tuesday, October 14th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, MarketAxess has a consensus rating of “Hold” and a consensus price target of $216.58.

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.