Royal Bank of Canada Trims TMX Group (TSE:X) Target Price to C$39.00

TMX Group (TSE:X) had its price target cut by Royal Bank of Canada from C$40.00 to C$39.00 in a research report released on Sunday, BayStreet.CA reports. They currently have a sector perform rating on the stock.

Other research analysts also recently issued reports about the company. Scotiabank lifted their target price on TMX Group from C$38.00 to C$39.00 and gave the company a sector perform rating in a research note on Tuesday, April 30th. Canaccord Genuity Group set a C$44.00 price objective on shares of TMX Group and gave the company a buy rating in a research report on Friday, April 26th. TD Securities upped their price objective on shares of TMX Group from C$34.00 to C$35.00 and gave the stock a hold rating in a research report on Wednesday, February 7th. CIBC lifted their target price on shares of TMX Group from C$38.00 to C$40.00 and gave the company a neutral rating in a report on Friday. Finally, Barclays increased their price target on shares of TMX Group from C$35.00 to C$38.00 in a report on Monday, April 8th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and a consensus target price of C$39.88.

TMX Group Stock Performance

Shares of X traded down C$0.21 during mid-day trading on Friday, reaching C$37.00. 650,401 shares of the company’s stock were exchanged, compared to its average volume of 353,493. The business’s fifty day simple moving average is C$35.51 and its 200-day simple moving average is C$32.78. The stock has a market capitalization of C$10.24 billion, a PE ratio of 28.88, a price-to-earnings-growth ratio of 12.65 and a beta of 0.39. TMX Group has a 52-week low of C$28.23 and a 52-week high of C$37.59. The company has a debt-to-equity ratio of 26.67, a current ratio of 1.00 and a quick ratio of 0.01.

TMX Group (TSE:X) last announced its earnings results on Monday, February 5th. The company reported C$0.37 EPS for the quarter, meeting analysts’ consensus estimates of C$0.37. The business had revenue of C$301.50 million during the quarter, compared to analysts’ expectations of C$300.05 million. TMX Group had a net margin of 12.28% and a return on equity of 9.10%. On average, equities research analysts expect that TMX Group will post 1.6194927 earnings per share for the current year.

TMX Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.19 per share. This is a positive change from TMX Group’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.76 annualized dividend and a dividend yield of 2.05%. TMX Group’s payout ratio is 55.47%.

Insider Activity at TMX Group

In other TMX Group news, Senior Officer Luc Fortin sold 15,140 shares of TMX Group stock in a transaction dated Friday, March 1st. The shares were sold at an average price of C$35.32, for a total transaction of C$534,744.80. In other TMX Group news, Senior Officer Jayakumar Rajarathinam sold 95,750 shares of the company’s stock in a transaction dated 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. Also, Senior Officer Luc Fortin sold 15,140 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of C$35.32, for a total transaction of C$534,744.80. 5.57% of the stock is currently owned by company insiders.

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.