TMX Group Limited (TSE:X) Stock Rated “Buy” by Sell-Side Analysts

TMX Group Limited (TSE:X) has been assigned an average rating of “Buy” from the nine research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is C$65.06.

X has been the topic of several recent research reports. Barclays upped their price objective on TMX Group from C$58.00 to C$59.00 in a report on Thursday, July 9th. RBC Dominion Securities cut their target price on shares of TMX Group from C$69.00 to C$67.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. Raymond James Financial decreased their price target on shares of TMX Group from C$65.25 to C$64.50 and set a “strong-buy” rating on the stock in a research note on Friday, July 31st. Canaccord Genuity Group lifted their price objective on shares of TMX Group from C$64.00 to C$65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 14th. Finally, National Bank Financial upgraded shares of TMX Group from a “hold” rating to an “outperform” rating and reduced their target price for the stock from C$65.00 to C$63.00 in a report on Monday, July 27th.

TMX Group Trading Down 0.2%

Shares of X stock opened at C$57.43 on Friday. The company has a current ratio of 2.76, a quick ratio of 0.01 and a debt-to-equity ratio of 41.81. The stock has a market capitalization of C$15.82 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 12.65 and a beta of -0.17. TMX Group has a 12-month low of C$44.10 and a 12-month high of C$58.01. The stock’s 50-day moving average price is C$53.66 and its 200-day moving average price is C$52.09.

TMX Group (TSE:X) last announced its quarterly earnings results on Thursday, July 30th. The company reported C$0.62 EPS for the quarter. The company had revenue of C$487.50 million during the quarter. TMX Group had a return on equity of 3.81% and a net margin of 32.55%. Equities research analysts predict that TMX Group will post 1.77 EPS for the current fiscal year.

TMX Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 28th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 14th. This is a positive change from TMX Group’s previous quarterly dividend of $0.24. TMX Group’s dividend payout ratio is 42.40%.

Insider Activity at TMX Group

In other news, insider Cheryl Graden sold 17,000 shares of TMX Group stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of C$54.14, for a total value of C$920,380.00. In the last three months, insiders sold 41,735 shares of company stock valued at $2,268,124. 1.15% of the stock is currently owned by insiders.

TMX Group Company Profile

TMX Group operates global markets, and builds digital communities and analytic solutions that facilitate the funding, growth and success of businesses, traders and investors. TMX Group’s key operations include Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, TSX Trust, TMX Trayport, TMX Datalinx, TMX VettaFi and TMX Newsfile, which provide listing markets, trading markets, clearing facilities, depository services, technology solutions, data products and other services to the global financial community.