TMX Group (TSE:X) Stock Passes Above 200-Day Moving Average – Here’s Why

TMX Group Limited (TSE:X) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$51.14 and traded as high as C$54.13. TMX Group shares last traded at C$53.95, with a volume of 638,352 shares traded.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. National Bank Financial upgraded TMX Group from a “hold” rating to an “outperform” rating and decreased their price objective for the company from C$65.00 to C$63.00 in a report on Monday, July 27th. Royal Bank Of Canada increased their target price on shares of TMX Group from C$69.00 to C$71.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Raymond James Financial dropped their target price on shares of TMX Group from C$65.25 to C$64.50 and set a “strong-buy” rating on the stock in a report on Friday, July 31st. Canaccord Genuity Group raised their target price on shares of TMX Group from C$63.00 to C$64.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Finally, Barclays boosted their price target on shares of TMX Group from C$58.00 to C$59.00 in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$65.28.

TMX Group Price Performance

The stock’s 50-day moving average is C$52.46 and its 200 day moving average is C$51.14. The company has a debt-to-equity ratio of 41.81, a current ratio of 2.76 and a quick ratio of 0.01. The company has a market cap of C$14.86 billion, a PE ratio of 24.86, a PEG ratio of 12.65 and a beta of -0.14.

TMX Group (TSE:X) last released its quarterly earnings results on Thursday, July 30th. The company reported C$0.62 earnings per share (EPS) for the quarter. The business had revenue of C$487.50 million for the quarter. TMX Group had a net margin of 32.55% and a return on equity of 3.81%. On average, equities analysts anticipate that TMX Group Limited will post 1.7708421 earnings per share for the current fiscal year.

TMX Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 28th were paid a dividend of $0.26 per share. This is a positive change from TMX Group’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, August 14th. This represents a $1.04 annualized dividend and a yield of 1.9%. TMX Group’s dividend payout ratio (DPR) is presently 42.40%.

Insider Transactions at TMX Group

In related news, insider Cheryl Graden sold 17,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of C$54.14, for a total transaction of C$920,380.00. Over the last quarter, insiders sold 41,735 shares of company stock worth $2,268,124. Corporate insiders own 1.15% of the company’s stock.

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.