TMX Group (TSE:X) Sets New 12-Month High – Here’s Why

TMX Group Limited (TSE:X)’s share price hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as C$57.43 and last traded at C$57.43, with a volume of 55,545 shares traded. The stock had previously closed at C$56.11.

Wall Street Analysts Forecast Growth

X has been the topic of a number of analyst reports. Barclays increased their target price on TMX Group from C$58.00 to C$59.00 in a report on Thursday, July 9th. RBC Dominion Securities reduced their price objective on TMX Group from C$69.00 to C$67.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. Raymond James Financial decreased their price objective on 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 boosted their target price on shares of TMX Group from C$64.00 to C$65.00 and gave the company 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 company from C$65.00 to C$63.00 in a report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$65.06.

TMX Group Price Performance

The company’s 50 day simple moving average is C$53.66 and its 200 day simple moving average is C$52.09. 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 PE ratio of 26.47, a PEG ratio of 12.65 and a beta of -0.17.

TMX Group (TSE:X) last posted its quarterly earnings data 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 return on equity of 3.81% and a net margin of 32.55%. On average, equities analysts anticipate that TMX Group Limited will post 1.77 earnings per share for the current 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 given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.8%. This is a boost from TMX Group’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, August 14th. TMX Group’s dividend payout ratio (DPR) is currently 42.40%.

Insiders Place Their Bets

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