TMX Group (TSE:X) Stock Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• TMX Group shares rose above their 200-day moving average, trading as high as C$54.13 versus the C$51.14 average, and last changed hands at C$53.95.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of C$65.28, implying potential upside from the recent trading level.
• The company reported quarterly EPS of C$0.62 on C$487.5 million in revenue and increased its quarterly dividend to C$0.26, while insiders have sold more than 41,000 shares over the past 90 days.

TMX Group Limited (TSE:X - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$51.14 and traded as high as C$54.13. TMX Group shares last traded at C$53.95, with a volume of 638,352 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada increased their price objective on TMX Group from C$69.00 to C$71.00 and gave the company an "outperform" rating in a research report on Monday, June 15th. Raymond James Financial dropped their target price on shares of TMX Group from C$65.25 to C$64.50 and set a "strong-buy" rating on the stock in a research report on Friday, July 31st. Barclays upped their target price on shares of TMX Group from C$58.00 to C$59.00 in a research note on Thursday, July 9th. National Bank Financial upgraded shares of TMX Group from a "hold" rating to an "outperform" rating and decreased their price target for the stock from C$65.00 to C$63.00 in a research report on Monday, July 27th. Finally, Canaccord Genuity Group boosted 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. One research 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. Based on data from MarketBeat, TMX Group presently has a consensus rating of "Moderate Buy" and an average target price of C$65.28.

TMX Group Price Performance

The company has a market cap of C$14.86 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 12.65 and a beta of -0.14. The company has a fifty day moving average price of C$52.46 and a two-hundred day moving average price of C$51.14. The company has a current ratio of 2.76, a quick ratio of 0.01 and a debt-to-equity ratio of 41.81.

TMX Group (TSE:X - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported C$0.62 EPS for the quarter. The business had revenue of C$487.50 million during the quarter. TMX Group had a return on equity of 3.81% and a net margin of 32.55%. As a group, equities research analysts anticipate that TMX Group Limited will post 1.7708421 EPS for the current fiscal year.

TMX Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 28th were paid a $0.26 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.9%. This is a positive change from TMX Group's previous quarterly dividend of $0.24. TMX Group's dividend payout ratio is currently 42.40%.

Insider Activity at TMX Group

In other news, insider Cheryl Graden sold 17,000 shares of the firm'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 ninety days, insiders have sold 41,735 shares of company stock worth $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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