TMX Group (TSE:X) Stock Price Breaks Above 200-Day Moving Average - What's Next?

Key Points

• TMX Group shares moved above their 200-day moving average, reaching C$53.49 and last trading at C$53.22, signaling improved technical momentum.
• Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and an average price target of C$65.28, above the current share price.
• TMX Group increased its quarterly dividend from C$0.24 to C$0.26 per share, representing an annualized dividend of C$1.04 and a 2.0% yield; insiders, however, have sold shares recently.

TMX Group Limited (TSE:X - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of C$51.74 and traded as high as C$53.49. TMX Group shares last traded at C$53.22, with a volume of 564,216 shares traded.

Analysts Set New Price Targets

X has been the subject of a number of research reports. Raymond James Financial dropped their price objective 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 increased their target price on TMX Group from C$58.00 to C$59.00 in a research note on Thursday, July 9th. Finally, National Bank Financial raised TMX Group from a "hold" rating to an "outperform" rating and decreased their target price for the stock from C$65.00 to C$63.00 in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, TMX Group presently has an average rating of "Moderate Buy" and a consensus price target of C$65.28.

TMX Group Trading Up 0.4%

The company's 50 day simple moving average is C$53.30 and its 200 day simple moving average is C$51.74. The firm has a market cap of C$14.66 billion, a price-to-earnings ratio of 24.53, a P/E/G ratio of 12.65 and a beta of -0.17. The company has a debt-to-equity ratio of 41.81, a current ratio of 2.76 and a quick ratio of 0.01.

TMX Group (TSE:X - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported C$0.62 earnings per share 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 for the quarter. As a group, research analysts expect that TMX Group Limited will post 1.77 earnings per share for the current fiscal year.

TMX Group Increases Dividend

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

Insider Buying and Selling at TMX Group

In related news, insider Cheryl Graden sold 8,885 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of C$54.41, for a total value of C$483,432.85. Following the sale, the insider owned 32,845 shares of the company's stock, valued at C$1,787,096.45. This trade represents a 21.29% decrease in their ownership of the stock. Insiders have sold 41,735 shares of company stock worth $2,268,124 in the last 90 days. 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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