Canaccord Genuity Group Issues Positive Forecast for TMX Group (TSE:X) Stock Price

Key Points

• Canaccord Genuity Group raised its price target for TMX Group from C$64 to C$65 and maintained a “buy” rating, implying 22.53% upside from the stock’s C$53.05 price.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of C$65.39 based on nine ratings.
• TMX Group reported quarterly earnings of C$0.62 per share on revenue of C$487.5 million, while insiders have sold roughly C$2.27 million of shares over the past 90 days.

TMX Group (TSE:X - Get Free Report) had its target price lifted by equities research analysts at Canaccord Genuity Group from C$64.00 to C$65.00 in a note issued to investors on Wednesday, BayStreet reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective points to a potential upside of 22.53% from the company's current price.

X has been the subject of several other research reports. National Bank Financial raised shares of TMX Group from a "hold" rating to an "outperform" rating and cut their price objective for the stock from C$65.00 to C$63.00 in a research report on Monday, July 27th. Barclays raised their target price on shares of TMX Group from C$58.00 to C$59.00 in a report on Thursday, July 9th. Finally, Raymond James Financial dropped their target price on shares of 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. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, TMX Group presently has a consensus rating of "Moderate Buy" and an average target price of C$65.39.

TMX Group Stock Performance

Shares of TSE:X traded down C$0.17 during trading on Wednesday, reaching C$53.05. 117,849 shares of the stock were exchanged, compared to its average volume of 807,443. TMX Group has a 12 month low of C$44.10 and a 12 month high of C$57.27. The firm has a market cap of C$14.61 billion, a PE ratio of 24.45, a PEG ratio of 12.65 and a beta of -0.17. The stock has a 50-day moving average price of C$53.30 and a 200-day moving average price of C$51.74. The company has a current ratio of 2.76, a quick ratio of 0.01 and a debt-to-equity ratio of 41.81.

TMX Group (TSE:X - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported C$0.62 earnings per share for the quarter. The company had revenue of C$487.50 million for the quarter. TMX Group had a return on equity of 3.81% and a net margin of 32.55%. Research analysts expect that TMX Group will post 1.77 EPS for the current fiscal year.

Insider Buying and Selling

In other TMX Group news, insider Cheryl Graden sold 17,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of C$54.14, for a total value of C$920,380.00. Over the last ninety days, insiders have sold 41,735 shares of company stock valued at $2,268,124. 1.15% of the stock is owned by corporate 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.

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