TMX Group (TSE:X) Hits New 52-Week High - Still a Buy?

Key Points

• TMX Group shares hit a new 52-week high, reaching C$62.50 and closing near C$61.89, up 6.9% from the previous close.
• Analysts remain broadly bullish, with an average rating of “Buy” and a consensus price target of C$66.19; recent targets range from C$59.00 to C$67.00.
• TMX Group reported quarterly revenue of C$491.1 million and EPS of C$0.63, while increasing its quarterly dividend to C$0.26, equivalent to a 1.7% annual yield.

Shares of TMX Group Limited (TSE:X - Get Free Report) reached a new 52-week high on Friday. The stock traded as high as C$62.50 and last traded at C$61.89, with a volume of 61,608 shares changing hands. The stock had previously closed at C$57.06.

Analyst Upgrades and Downgrades

Several analysts have recently commented on X shares. RBC Dominion Securities decreased their target price on TMX Group from C$69.00 to C$67.00 and set an "outperform" rating on the stock in a report on Thursday, October 15th. Canaccord Genuity Group lifted their target price on TMX Group from C$64.00 to C$65.00 and gave the company a "buy" rating in a research note on Wednesday, October 14th. Raymond James Financial lowered their target price on TMX Group from C$65.25 to C$64.50 and set a "strong-buy" rating for the company in a research note on Friday, July 31st. Barclays boosted their target price on TMX Group from C$58.00 to C$59.00 in a research report on Thursday, July 9th. Finally, National Bank Financial upped their price target on TMX Group from C$64.00 to C$67.00 and gave the company an "outperform" rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, TMX Group presently has an average rating of "Buy" and a consensus price target of C$66.19.

TMX Group Stock Up 6.9%

The firm's 50-day simple moving average is C$53.99 and its 200 day simple moving average is C$51.14. 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 company has a market cap of C$16.80 billion, a P/E ratio of 28.11, a PEG ratio of 12.65 and a beta of -0.17.

TMX Group (TSE:X - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported C$0.63 earnings per share (EPS) for the quarter. TMX Group had a return on equity of 3.81% and a net margin of 32.55%. The business had revenue of C$491.10 million for the quarter. On average, research analysts forecast that TMX Group Limited will post 1.77 earnings per share for the current fiscal year.

TMX Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 28th were issued a $0.26 dividend. This is a positive change from TMX Group's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.04 annualized dividend and a dividend yield of 1.7%. TMX Group's dividend payout ratio (DPR) is presently 42.40%.

Insider Transactions at TMX Group

In other TMX Group news, insider Cheryl Graden sold 17,000 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of C$54.14, for a total value of C$920,380.00. Insiders sold 41,735 shares of company stock valued at $2,268,124 over the last ninety days. 1.15% of the stock is currently 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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