TMX Group (TSE:X) Given New C$58.00 Price Target at TD Securities

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 boosted by TD Securities from C$57.00 to C$58.00 in a research report sent to investors 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. Scotiabank boosted their price objective on shares of TMX Group from C$63.00 to C$65.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. National Bankshares boosted their price objective on shares of TMX Group from C$58.00 to C$59.00 and gave the stock a "sector perform" rating in a report on Monday, August 4th. BMO Capital Markets boosted their price objective on shares of TMX Group from C$57.00 to C$61.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Barclays boosted their price objective on shares of TMX Group from C$56.00 to C$58.00 in a report on Thursday, July 10th. Finally, Canaccord Genuity Group boosted their price objective on shares of TMX Group from C$52.00 to C$58.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, TMX Group has an average rating of "Hold" and a consensus price target of C$59.81.

TMX Group Stock Performance

TSE:X traded down C$0.04 during midday trading on Tuesday, reaching C$57.71. The stock had a trading volume of 337,529 shares, compared to its average volume of 487,392. TMX Group has a 1-year low of C$41.27 and a 1-year high of C$57.98. The firm's fifty day simple moving average is C$56.23 and its 200-day simple moving average is C$53.17. The company has a debt-to-equity ratio of 47.49, a current ratio of 1.01 and a quick ratio of 0.01. The stock has a market capitalization of C$16.05 billion, a P/E ratio of 33.31, a PEG ratio of 12.65 and a beta of 0.43.

TMX Group Increases Dividend

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