TMX Group (TSE:X) Sets New 1-Year High After Analyst Upgrade

TMX Group Limited (TSE:X) hit 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.

Other research analysts also recently issued research reports about the company. Barclays increased their price objective on TMX Group from C$35.00 to C$38.00 in a report on Monday, April 8th. Royal Bank of Canada upped their target price on TMX Group from C$36.00 to C$38.00 and gave the company a “sector perform” rating in a research report on Monday. Scotiabank upped 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 report on Tuesday. BMO Capital Markets raised TMX Group from a “market perform” rating to an “outperform” rating and upped their target price for the company from C$36.00 to C$41.00 in a research report on Monday, March 25th. Finally, TD Securities upped their target price on TMX Group from C$34.00 to C$35.00 and gave the company a “hold” rating in a research report on Wednesday, February 7th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$39.38.

Insider Activity at TMX Group

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

TMX Group Stock Up 1.9 %

The firm has a fifty day moving average price of C$35.45 and a 200-day moving average price of 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. The firm has a market cap of C$10.29 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 12.65 and a beta of 0.39.

TMX Group (TSE:X) last posted its quarterly earnings data on Monday, February 5th. The company reported C$0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of C$0.37. TMX Group had a return on equity of 9.10% and a net margin of 12.28%. The business had revenue of C$301.50 million for the quarter, compared to analysts’ expectations of C$300.05 million. As a group, sell-side analysts forecast that TMX Group Limited will post 1.6194927 EPS for the current year.

TMX Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 31st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.76 dividend on an annualized basis and a yield of 2.04%. This is a boost from TMX Group’s previous quarterly dividend of $0.18. TMX Group’s dividend payout ratio (DPR) is presently 55.47%.

About TMX Group

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.