TMX Group (TSE:X) Hits New 52-Week High – Should You Buy?

TMX Group Limited (TSE:X)’s stock price reached a new 52-week high during trading on Monday. The company traded as high as C$62.62 and last traded at C$62.62, with a volume of 217,133 shares trading hands. The stock had previously closed at C$61.48.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on X. Royal Bank Of Canada lifted their price target on TMX Group from C$67.00 to C$75.00 and gave the company an “outperform” rating in a research note on Monday, November 2nd. Raymond James Financial increased their price target on TMX Group from C$64.50 to C$69.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 30th. Canaccord Genuity Group raised their price objective on TMX Group from C$64.00 to C$65.00 and gave the company a “buy” rating in a report on Wednesday, October 14th. RBC Dominion Securities cut their price objective on TMX Group from C$69.00 to C$67.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. Finally, National Bank Financial upped their target price on TMX Group from C$64.00 to C$67.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$67.25.

TMX Group Stock Up 0.5%

The company has a quick ratio of 0.01, a current ratio of 10.13 and a debt-to-equity ratio of 57.61. The business has a 50-day moving average price of C$55.16 and a 200-day moving average price of C$51.54. The firm has a market capitalization of C$17.32 billion, a PE ratio of 29.71, a price-to-earnings-growth ratio of 12.65 and a beta of -0.18.

TMX Group (TSE:X) last released its quarterly earnings data on Thursday, October 29th. The company reported C$0.63 earnings per share for the quarter. TMX Group had a return on equity of 3.71% and a net margin of 30.56%. The company had revenue of C$491.10 million for the quarter. Equities research analysts forecast that TMX Group Limited will post 1.77 earnings per share for the current fiscal year.

TMX Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 27th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, November 13th. TMX Group’s dividend payout ratio (DPR) is presently 45.28%.

Insider Buying and Selling

In other TMX Group news, insider Cheryl Graden sold 17,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of C$54.14, for a total value of C$920,380.00. Insiders have sold 41,735 shares of company stock worth $2,268,124 over the last quarter. 1.15% of the stock is owned by insiders.

About TMX Group

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.