TMX Group (TSE:X) Price Target Raised to C$58.00

Key Points

• TD Securities has raised its target price for TMX Group (TSE:X) from C$57.00 to C$58.00, indicating a potential upside of 1.01% from the stock's previous close, while maintaining a "hold" rating.
• Several analysts, including Barclays and Canaccord Genuity, have similarly increased their target prices for TMX Group, with current averages suggesting a target of C$59.81.
• TMX Group's stock experienced a 2.8% increase to C$57.42 during trading, with a market capitalization of C$15.97 billion and notable trading volumes of 448,580 shares.

TMX Group (TSE:X - Free Report) had its target price upped by TD Securities from C$57.00 to C$58.00 in a report released on Tuesday morning,BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

X has been the topic of several other research reports. Raymond James Financial upped their target price on shares of TMX Group from C$59.00 to C$62.50 and gave the company an "outperform" rating in a research note on Friday, August 1st. CIBC boosted their target price on shares of TMX Group from C$55.00 to C$57.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. BMO Capital Markets raised their price target on TMX Group from C$57.00 to C$61.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Barclays upped their price objective on TMX Group from C$56.00 to C$58.00 in a research report on Thursday, July 10th. Finally, National Bankshares boosted their price target on TMX Group from C$58.00 to C$59.00 and gave the company a "sector perform" rating in a research note on Monday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of C$59.81.

TMX Group Trading Up 2.3%

Shares of TMX Group stock traded up C$1.27 during midday trading on Tuesday, reaching C$57.59. 115,921 shares of the company's stock traded hands, compared to its average volume of 486,763. The company has a market cap of C$16.02 billion, a PE ratio of 33.24, a price-to-earnings-growth ratio of 12.65 and a beta of 0.43. The stock has a 50 day moving average of C$56.15 and a 200-day moving average of C$52.94. TMX Group has a 12 month low of C$40.48 and a 12 month high of C$57.98. The company has a debt-to-equity ratio of 47.49, a quick ratio of 0.01 and a current ratio of 1.01.

TMX Group Increases Dividend

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

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.