TMX Group (TSE:X) Shares Cross Above 200 Day Moving Average - What's Next?

Key Points

• TMX Group shares crossed above their 200-day moving average, reaching C$53.14 before closing at C$52.31. The stock’s 50-day and 200-day moving averages are C$51.79 and C$50.88, respectively.
• Analysts remain broadly optimistic, with a consensus rating of “Moderate Buy” and an average price target of C$65.28, implying upside from the recent trading level.
• TMX Group reported quarterly revenue of C$487.50 million and EPS of C$0.62, while increasing its quarterly dividend to C$0.26 per share, equivalent to a 2.0% yield.

TMX Group Limited (TSE:X - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$50.88 and traded as high as C$53.14. TMX Group shares last traded at C$52.31, with a volume of 794,525 shares traded.

Wall Street Analysts Forecast Growth

X has been the subject of a number of recent research reports. Raymond James Financial lowered 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 research report on Friday, July 31st. Canaccord Genuity Group upped their price objective on shares of TMX Group from C$63.00 to C$64.00 and gave the stock a "buy" rating in a report on Monday, June 15th. Barclays raised their target price on shares of TMX Group from C$58.00 to C$59.00 in a research note on Thursday, July 9th. Royal Bank Of Canada lifted their target price on shares of TMX Group from C$69.00 to C$71.00 and gave the company an "outperform" rating in a report on Monday, June 15th. Finally, National Bank Financial raised TMX Group from a "hold" rating to an "outperform" rating and dropped their price target for the stock from C$65.00 to C$63.00 in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$65.28.

TMX Group Price Performance

The firm has a 50-day moving average of C$51.79 and a 200-day moving average of C$50.88. 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 firm has a market capitalization of C$14.41 billion, a P/E ratio of 24.11, a PEG ratio of 12.65 and a beta of -0.14.

TMX Group (TSE:X - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported C$0.62 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$487.50 million during the quarter. As a group, analysts predict that TMX Group Limited will post 1.7708421 EPS for the current year.

TMX Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 28th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. This is a boost from TMX Group's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, August 14th. TMX Group's payout ratio is 42.40%.

Insider Buying and Selling

In other TMX Group news, insider Cheryl Graden sold 8,885 shares of the business's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of C$54.41, for a total value of C$483,432.85. Following the completion of the transaction, the insider owned 32,845 shares of the company's stock, valued at approximately C$1,787,096.45. The trade was a 21.29% decrease in their position. In the last ninety days, insiders sold 41,735 shares of company stock valued at $2,268,124. 1.15% of the stock is currently owned by company 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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