TMX Group (TSE:X) Price Target Cut to C$39.00

TMX Group (TSE:X) had its target price reduced by Royal Bank of Canada from C$40.00 to C$39.00 in a report released on Sunday morning, BayStreet.CA reports. They currently have a sector perform rating on the stock.

A number of other research firms have also weighed in on X. Scotiabank increased their price objective on shares of TMX Group from C$38.00 to C$39.00 and gave the stock a sector perform rating in a research note on Tuesday, April 30th. Barclays raised their target price on TMX Group from C$35.00 to C$38.00 in a report on Monday, April 8th. Canaccord Genuity Group set a C$44.00 price objective on shares of TMX Group and gave the stock a buy rating in a research note on Friday, April 26th. BMO Capital Markets upgraded shares of TMX Group from a market perform rating to an outperform rating and boosted their target price for the company from C$36.00 to C$41.00 in a research note on Monday, March 25th. Finally, CIBC raised their price target on shares of TMX Group from C$38.00 to C$40.00 and gave the company a neutral rating in a research report on Friday, May 3rd. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, TMX Group presently has an average rating of Hold and an average price target of C$39.88.

TMX Group Stock Performance

Shares of X stock opened at C$36.56 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.01 and a debt-to-equity ratio of 26.67. The company has a market cap of C$10.11 billion, a PE ratio of 28.56, a PEG ratio of 12.65 and a beta of 0.39. TMX Group has a 12-month low of C$28.24 and a 12-month high of C$37.59. The business’s fifty day simple moving average is C$35.66 and its 200-day simple moving average is C$32.91.

TMX Group (TSE:X) last announced its quarterly earnings data on Thursday, May 2nd. The company reported C$0.38 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.37 by C$0.01. TMX Group had a net margin of 12.28% and a return on equity of 9.10%. The firm had revenue of C$345.90 million for the quarter, compared to analyst estimates of C$338.61 million. Analysts expect that TMX Group will post 1.6194927 earnings per share for the current fiscal year.

TMX Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.08%. This is a positive change from TMX Group’s previous quarterly dividend of $0.18. The ex-dividend date is Thursday, May 16th. TMX Group’s dividend payout ratio is presently 55.47%.

Insider Activity

In related news, Director Peter Alexander Conroy sold 13,965 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of C$36.19, for a total transaction of C$505,347.27. In other news, Senior Officer Luc Fortin sold 15,140 shares of TMX Group stock in a transaction dated Friday, March 1st. The stock was sold at an average price of C$35.32, for a total value of C$534,744.80. Also, Director Peter Alexander Conroy sold 13,965 shares of TMX Group stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of C$36.19, for a total transaction of C$505,347.27. Insiders own 5.57% of the company’s stock.

About TMX Group

TMX Group Limited operates exchanges, markets, and clearinghouses primarily for capital markets in Canada, the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Global Solutions, Insights & Analytics; Capital Formation; Derivatives Trading & Clearing; and Equities and Fixed Income Trading & Clearing.