Raymond James Financial Lowers TMX Group (TSE:X) Price Target to C$64.50

Key Points

• Raymond James lowered its TMX Group price target to C$64.50 from C$65.25 while maintaining a “strong-buy” rating, implying about 25.34% upside from the reported C$51.46 share price.
• Analyst sentiment remains positive: TMX Group has a consensus “Moderate Buy” rating and an average price target of C$65.28, with targets from other firms ranging from C$59.00 to C$71.00.
• TMX Group reported quarterly EPS of C$0.62 on revenue of C$487.5 million, while its stock fell 0.5% in Friday trading; insider John McKenzie also sold 69,970 shares worth approximately C$3.83 million.

TMX Group (TSE:X - Get Free Report) had its price objective decreased by stock analysts at Raymond James Financial from C$65.25 to C$64.50 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a "strong-buy" rating on the stock. Raymond James Financial's price objective suggests a potential upside of 25.34% from the stock's current price.

Other equities research analysts have also issued reports about the company. BMO Capital Markets boosted their target price on TMX Group from C$62.00 to C$65.00 and gave the stock an "outperform" rating in a report on Wednesday, May 6th. Scotia lifted their price target on shares of TMX Group from C$70.00 to C$71.00 and gave the company a "sector outperform" rating in a research report on Wednesday, May 6th. Royal Bank Of Canada boosted their price objective on shares of TMX Group from C$69.00 to C$71.00 and gave the stock an "outperform" rating in a research note on Monday, June 15th. 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. Finally, 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. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of C$65.28.

TMX Group Stock Down 0.5%

TMX Group stock traded down C$0.26 during mid-day trading on Friday, hitting C$51.46. 227,265 shares of the company's stock were exchanged, compared to its average volume of 879,223. The company has a current ratio of 2.35, a quick ratio of 0.01 and a debt-to-equity ratio of 44.08. The stock has a market cap of C$14.21 billion, a P/E ratio of 26.94, a P/E/G ratio of 12.65 and a beta of -0.16. TMX Group has a 1-year low of C$44.10 and a 1-year high of C$57.98. The stock has a 50 day moving average of C$49.50 and a two-hundred day moving average of C$49.89.

TMX Group (TSE:X - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported C$0.62 earnings per share for the quarter. The company had revenue of C$487.50 million during the quarter. TMX Group had a return on equity of 3.40% and a net margin of 16.47%. As a group, analysts anticipate that TMX Group will post 1.7708421 EPS for the current fiscal year.

Insider Transactions at TMX Group

In related news, insider John Mckenzie sold 69,970 shares of the company's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of C$54.71, for a total transaction of C$3,828,058.70. Following the completion of the transaction, the insider directly owned 100,774 shares in the company, valued at C$5,513,345.54. This represents a 40.98% decrease in their position. Company insiders own 1.15% of the company's stock.

About TMX Group

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.

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