TMX Group (TSE:X) Price Target Cut to C$67.00 by Analysts at RBC Dominion Securities

Key Points

• RBC Dominion Securities lowered its TMX Group price target from C$69 to C$67 while maintaining an “outperform” rating, implying 24.35% upside from the previous close.
• Analyst sentiment remains positive, with TMX Group holding a consensus “Moderate Buy” rating and an average price target of C$65.55.
• TMX shares traded at C$53.88, while the company reported quarterly revenue of C$487.5 million and earnings of C$0.62 per share.

TMX Group (TSE:X - Get Free Report) had its price objective dropped by stock analysts at RBC Dominion Securities from C$69.00 to C$67.00 in a research report issued on Thursday, BayStreet reports. The brokerage presently has an "outperform" rating on the stock. RBC Dominion Securities' target price would suggest a potential upside of 24.35% from the stock's previous close.

A number of other research analysts have also commented on the company. Raymond James Financial lowered their price target on 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. Barclays increased their target price on shares of TMX Group from C$58.00 to C$59.00 in a research report on Thursday, July 9th. Canaccord Genuity Group raised their target price on shares of TMX Group from C$64.00 to C$65.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, National Bank Financial raised shares of TMX Group from a "hold" rating to an "outperform" rating and lowered their target price for the company from C$65.00 to C$63.00 in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of C$65.55.

TMX Group Stock Performance

Shares of TSE X traded up C$0.68 during trading on Thursday, reaching C$53.88. The stock had a trading volume of 220,893 shares, compared to its average volume of 806,478. The firm's 50 day moving average price is C$53.31 and its two-hundred 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. TMX Group has a one year low of C$44.10 and a one year high of C$57.27. The stock has a market cap of C$14.84 billion, a PE ratio of 24.83, a P/E/G ratio of 12.65 and a beta of -0.17.

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

Insiders Place Their Bets

In other TMX Group news, insider Cheryl Graden sold 17,000 shares of the company's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of C$54.14, for a total transaction of C$920,380.00. Over the last 90 days, insiders sold 41,735 shares of company stock valued at $2,268,124. Company insiders own 1.15% of the company's stock.

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.

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