TMX Group (TSE:X) Reaches New 1-Year High on Analyst Upgrade

TMX Group Limited (TSE:X) shares reached a new 52-week high on Friday after CIBC raised their price target on the stock from C$38.00 to C$40.00. CIBC currently has a neutral rating on the stock. TMX Group traded as high as C$37.06 and last traded at C$37.02, with a volume of 38641 shares. The stock had previously closed at C$36.51.

Several other analysts also recently commented on X. BMO Capital Markets upgraded shares of TMX Group from a “market perform” rating to an “outperform” rating and increased their target price for the company from C$36.00 to C$41.00 in a report on Monday, March 25th. TD Securities increased their target price on shares of TMX Group from C$34.00 to C$35.00 and gave the company a “hold” rating in a report on Wednesday, February 7th. National Bankshares increased their target price on shares of TMX Group from C$37.00 to C$40.00 and gave the company a “sector perform” rating in a report on Tuesday. Royal Bank of Canada increased their target price on shares of TMX Group from C$36.00 to C$38.00 and gave the company a “sector perform” rating in a report on Monday. Finally, Canaccord Genuity Group set a C$44.00 price objective on shares of TMX Group and gave the stock a “buy” rating in a report on Friday, April 26th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, TMX Group presently has an average rating of “Hold” and an average target price of C$39.38.

Insiders Place Their Bets

In other news, Senior Officer Jayakumar Rajarathinam sold 95,750 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of C$33.78, for a total value of C$3,234,636.08. In other TMX Group news, Senior Officer Luc Fortin sold 15,140 shares of TMX Group stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of C$35.32, for a total transaction of C$534,744.80. Also, Senior Officer Jayakumar Rajarathinam sold 95,750 shares of TMX Group stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of C$33.78, for a total transaction of C$3,234,636.08. Company insiders own 5.57% of the company’s stock.

TMX Group Trading Up 1.9 %

The firm has a market capitalization of C$10.29 billion, a P/E ratio of 29.30, a price-to-earnings-growth ratio of 12.65 and a beta of 0.39. The firm’s 50-day simple moving average is C$35.45 and its 200-day simple moving average is C$32.69. The company has a quick ratio of 0.01, a current ratio of 1.00 and a debt-to-equity ratio of 26.67.

TMX Group (TSE:X) last posted its quarterly earnings results on Monday, February 5th. The company reported C$0.37 EPS for the quarter, hitting the consensus estimate of C$0.37. The firm had revenue of C$301.50 million for the quarter, compared to the consensus estimate of C$300.05 million. TMX Group had a net margin of 12.28% and a return on equity of 9.10%. Analysts anticipate that TMX Group Limited will post 1.6194927 EPS for the current year.

TMX Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 31st will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, May 16th. This is an increase from TMX Group’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 2.04%. TMX Group’s dividend payout ratio (DPR) is 55.47%.

TMX Group Company Profile

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.