TMX Group (TSE:X) Hits New 1-Year High – What’s Next?

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

Analysts Set New Price Targets

X has been the topic of several research reports. National Bank Financial upgraded TMX Group from a “hold” rating to an “outperform” rating and cut their target price for the company from C$65.00 to C$63.00 in a research note on Monday, July 27th. Raymond James Financial lowered their price objective 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. RBC Dominion Securities decreased their target price on shares of TMX Group from C$69.00 to C$67.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. Canaccord Genuity Group boosted their price target on shares of TMX Group from C$64.00 to C$65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 14th. Finally, Barclays boosted their price target on shares of TMX Group from C$58.00 to C$59.00 in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$65.55.

TMX Group Trading Up 2.5%

The company has a market cap of C$15.85 billion, a price-to-earnings ratio of 26.52, a P/E/G ratio of 12.65 and a beta of -0.17. The company has a debt-to-equity ratio of 41.81, a quick ratio of 0.01 and a current ratio of 2.76. The firm has a fifty day moving average price of C$53.51 and a 200 day moving average price of C$51.99.

TMX Group (TSE:X) last released its earnings results on Thursday, July 30th. The company reported C$0.62 earnings per share for the quarter. The business had revenue of C$487.50 million during the quarter. TMX Group had a net margin of 32.55% and a return on equity of 3.81%. As a group, equities analysts predict that TMX Group Limited will post 1.77 EPS for the current fiscal year.

TMX Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 28th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. This is a boost from TMX Group’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, August 14th. TMX Group’s dividend payout ratio (DPR) is presently 42.40%.

Insider Transactions at TMX Group

In other news, insider Cheryl Graden sold 8,885 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of C$54.41, for a total value of C$483,432.85. Following the completion of the sale, the insider directly owned 32,845 shares of the company’s stock, valued at C$1,787,096.45. This trade represents a 21.29% decrease in their ownership of the stock. Insiders sold a total of 41,735 shares of company stock valued at $2,268,124 in the last 90 days. 1.15% of the stock is owned by corporate insiders.

About TMX Group

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.