TMX Group (TSE:X) Price Target Raised to C$75.00

Key Points

• Royal Bank of Canada raised TMX Group’s price target to C$75 from C$67 while maintaining an “outperform” rating, implying 24.23% upside from the previous close.
• Analyst sentiment remains positive: TMX Group has an average “Buy” rating and a consensus target price of C$67.25, based on one Strong Buy, six Buys and one Hold.
• TMX Group shares rose 0.5% to C$60.37, near their 12-month high of C$62.57. The company recently reported quarterly EPS of C$0.63 on revenue of C$491.1 million.

TMX Group (TSE:X - Get Free Report) had its target price hoisted by equities researchers at Royal Bank Of Canada from C$67.00 to C$75.00 in a research note issued to investors on Monday, BayStreet reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's target price indicates a potential upside of 24.23% from the company's previous close.

Several other equities analysts also recently issued reports on the company. RBC Dominion Securities cut their target price 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, October 15th. Barclays boosted 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 boosted their price target on TMX Group from C$64.50 to C$69.00 and gave the company a "strong-buy" rating in a research note on Friday. Canaccord Genuity Group increased their price objective on TMX Group from C$64.00 to C$65.00 and gave the company a "buy" rating in a report on Wednesday, October 14th. Finally, National Bank Financial raised their price objective on TMX Group from C$64.00 to C$67.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of C$67.25.

TMX Group Stock Up 0.5%

TMX Group stock traded up C$0.30 during midday trading on Monday, hitting C$60.37. 432,907 shares of the company's stock were exchanged, compared to its average volume of 801,482. The company has a debt-to-equity ratio of 57.61, a quick ratio of 0.01 and a current ratio of 10.13. The company has a market cap of C$16.63 billion, a PE ratio of 27.82, a P/E/G ratio of 12.65 and a beta of -0.17. The firm has a 50-day moving average of C$54.15 and a two-hundred day moving average of C$51.19. TMX Group has a 12 month low of C$44.10 and a 12 month high of C$62.57.

TMX Group (TSE:X - Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported C$0.63 EPS for the quarter. The business had revenue of C$491.10 million during the quarter. TMX Group had a net margin of 30.56% and a return on equity of 3.71%. As a group, analysts expect that TMX Group will post 1.77 earnings per share 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 on Tuesday, September 1st. The stock was sold at an average price of C$54.14, for a total transaction of C$920,380.00. Insiders have sold 41,735 shares of company stock worth $2,268,124 over the last quarter. 1.15% of the stock is owned by 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.

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