TMX Group Limited (TSE:X) Receives Average Rating of "Hold" from Brokerages

Key Points

• TMX Group Limited has received an average recommendation of "Hold" from seven brokerages, with four analysts rating it as a hold and three as a buy.
• The company is set to pay an increased quarterly dividend of $0.22 on August 29th, up from the previous $0.20, reflecting a 1.5% dividend yield.
• As of the latest trading session, TMX Group's shares rose by 0.4% to C$56.92, showing a 1-year price range between C$41.50 and C$57.98.

Shares of TMX Group Limited (TSE:X - Get Free Report) have earned a consensus rating of "Hold" from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is C$59.81.

X has been the subject of several research reports. BMO Capital Markets lifted their price target on shares of TMX Group from C$57.00 to C$61.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Canaccord Genuity Group lifted 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. CIBC lifted 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 report on Monday, April 28th. TD Securities lifted their price objective on shares of TMX Group from C$57.00 to C$58.00 and gave the stock a "hold" rating in a report on Tuesday, August 5th. Finally, Barclays lifted their price objective on shares of TMX Group from C$56.00 to C$58.00 in a report on Thursday, July 10th.

TMX Group Stock Down 0.2%

TSE X traded down C$0.13 during mid-day trading on Friday, hitting C$57.21. The company's stock had a trading volume of 57,485 shares, compared to its average volume of 485,465. The company's 50 day simple moving average is C$56.36 and its 200 day simple moving average is C$53.69. TMX Group has a twelve month low of C$41.85 and a twelve month high of C$57.98. The company has a current ratio of 1.01, a quick ratio of 0.01 and a debt-to-equity ratio of 47.49. The firm has a market capitalization of C$15.91 billion, a price-to-earnings ratio of 33.02, 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. Shareholders of record on Friday, August 29th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.88 dividend on an annualized basis and a yield of 1.5%. This is a positive change from TMX Group's previous quarterly dividend of $0.20. TMX Group's 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.