Raymond James Financial Raises TMX Group (TSE:X) Price Target to C$62.50

Key Points

• Raymond James Financial raised its price target for TMX Group stock from C$59.00 to C$62.50, indicating a potential upside of 11.61% from the previous close.
• Several analysts, including TD Securities and Canaccord Genuity, have also increased their price targets for TMX Group, reflecting a generally positive outlook on the stock.
• TMX Group's stock is currently trading at C$56.00, down 0.6%, with a market capitalization of C$15.57 billion and a twelve-month high of C$57.77.

TMX Group (TSE:X - Free Report) had its price target boosted by Raymond James Financial from C$59.00 to C$62.50 in a report released on Friday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts have also weighed in on X. CIBC increased their price objective on shares of TMX Group from C$55.00 to C$57.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. Barclays raised their price target on shares of TMX Group from C$56.00 to C$58.00 in a research note on Thursday, July 10th. Canaccord Genuity Group raised their price target on shares of TMX Group from C$52.00 to C$58.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Scotiabank raised their price target on shares of TMX Group from C$63.00 to C$65.00 and gave the company a "sector perform" rating in a research note on Friday. Finally, TD Securities raised their price target on shares of TMX Group from C$54.00 to C$57.00 and gave the company a "hold" rating in a research note on Wednesday, July 16th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, TMX Group has a consensus rating of "Hold" and an average price target of C$59.69.

TMX Group Stock Up 2.9%

TSE:X traded up C$1.62 on Friday, reaching C$57.45. The stock had a trading volume of 360,107 shares, compared to its average volume of 483,778. The stock has a market cap of C$15.98 billion, a P/E ratio of 33.16, a price-to-earnings-growth ratio of 12.65 and a beta of 0.43. The company has a 50-day moving average of C$56.12 and a 200 day moving average of C$52.89. The company has a current ratio of 1.01, a quick ratio of 0.01 and a debt-to-equity ratio of 47.49. TMX Group has a 12-month low of C$39.70 and a 12-month high of C$57.77.

TMX Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 29th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, August 15th. This is a positive change from TMX Group's previous quarterly dividend of $0.20. TMX Group's payout ratio is currently 42.72%.

TMX Group Company Profile

TMX Group Ltd is a company that operates several global markets to provide investment opportunities for its clients. TMX Group's key operations include Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corporation, and Trayport, which provides listing markets, trading markets, clearing facilities, depository services, technology solutions, data products, and other services to the global financial community.