TMX Group (TSE:X) Hits New 52-Week High - Time to Buy?

Key Points

• TMX Group shares hit a new 52-week high of C$57.43, up from the prior close of C$56.11, with the stock trading above its 50- and 200-day moving averages.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of C$65.55, despite several firms recently lowering their targets.
• TMX Group reported C$487.5 million in quarterly revenue and C$0.62 EPS, while increasing its quarterly dividend to C$0.26. Insiders have sold about C$2.27 million of shares over the past three months.

TMX Group Limited (TSE:X - Get Free Report) shares reached a new 52-week high on Thursday. The stock traded as high as C$57.43 and last traded at C$57.43, with a volume of 55,545 shares traded. The stock had previously closed at C$56.11.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Raymond James Financial decreased their price target on shares of TMX Group from C$65.25 to C$64.50 and set a "strong-buy" rating for the company in a report on Friday, July 31st. RBC Dominion Securities reduced 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. National Bank Financial upgraded TMX Group from a "hold" rating to an "outperform" rating and reduced their target price for the stock from C$65.00 to C$63.00 in a report on Monday, July 27th. Canaccord Genuity Group boosted 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. Finally, Barclays increased their price target on TMX Group from C$58.00 to C$59.00 in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$65.55.

TMX Group Price Performance

The company has a market cap of C$15.85 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 12.65 and a beta of -0.17. The company has a quick ratio of 0.01, a current ratio of 2.76 and a debt-to-equity ratio of 41.81. The company's fifty day moving average price is C$53.51 and its two-hundred day moving average price is C$51.99.

TMX Group (TSE:X - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported C$0.62 earnings per share (EPS) for the quarter. TMX Group had a net margin of 32.55% and a return on equity of 3.81%. The company had revenue of C$487.50 million during the quarter. On average, 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 paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, August 14th. This is a boost from TMX Group's previous quarterly dividend of $0.24. TMX Group's dividend payout ratio (DPR) is currently 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 transaction of C$920,380.00. In the last three months, insiders sold 41,735 shares of company stock worth $2,268,124. 1.15% of the stock is currently owned by corporate 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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