TMX Group (TSE:X) Shares Cross Above 200 Day Moving Average – Here’s What Happened

TMX Group Limited (TSE:X) crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$51.74 and traded as high as C$53.49. TMX Group shares last traded at C$53.22, with a volume of 564,216 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on X shares. RBC Dominion Securities dropped their price target 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. Barclays upped their price target on TMX Group from C$58.00 to C$59.00 in a research note on Thursday, July 9th. Raymond James Financial reduced their price objective on TMX Group from C$65.25 to C$64.50 and set a “strong-buy” rating for the company in a research report on Friday, July 31st. Canaccord Genuity Group raised their price objective on TMX Group from C$64.00 to C$65.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, National Bank Financial upgraded TMX Group from a “hold” rating to an “outperform” rating and lowered their price objective for the company from C$65.00 to C$63.00 in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, TMX Group has a consensus rating of “Moderate Buy” and a consensus target price of C$65.55.

TMX Group Stock Performance

The business’s fifty day moving average price is C$53.31 and its 200-day moving average price is C$51.78. 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 stock has a market cap of C$14.96 billion, a PE ratio of 25.03, a P/E/G ratio of 12.65 and a beta of -0.17.

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

TMX Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 28th were issued a $0.26 dividend. This is an increase from TMX Group’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, August 14th. TMX Group’s dividend payout ratio is 42.40%.

Insiders Place Their Bets

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

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.