TMX Group Limited (TSE:X) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• TMX Group has a consensus analyst rating of “Moderate Buy”, based on coverage from nine analysts. The average 12-month price target is C$65.47, above the stock’s recent trading level.
• Several brokerages recently raised their price targets on the stock, including RBC, Scotia, Raymond James, BMO Capital Markets, and Canaccord Genuity. Most of those firms maintained positive ratings such as outperform, buy, or strong buy.
• The company also paid a quarterly dividend of C$0.24 per share, equal to an annualized yield of about 2.0%. In addition, insider John Mckenzie bought more than 35,000 shares, signaling confidence in the company.

TMX Group Limited (TSE:X - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the nine analysts that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is C$65.47.

A number of analysts have issued reports on X shares. Royal Bank Of Canada raised their price target on 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. Scotia increased their price objective on shares of TMX Group from C$70.00 to C$71.00 and gave the stock a "sector outperform" rating in a report on Wednesday, May 6th. Raymond James Financial increased their price objective on shares of TMX Group from C$61.50 to C$65.25 and gave the stock a "strong-buy" rating in a report on Friday, June 12th. BMO Capital Markets raised their target price on shares of TMX Group from C$62.00 to C$65.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Finally, Canaccord Genuity Group boosted their target price on shares of TMX Group from C$63.00 to C$64.00 and gave the company a "buy" rating in a report on Monday, June 15th.

TMX Group Trading Up 2.4%

Shares of X opened at C$48.51 on Thursday. The company has a debt-to-equity ratio of 44.08, a current ratio of 2.35 and a quick ratio of 0.01. The firm has a 50 day simple moving average of C$50.86 and a 200-day simple moving average of C$50.07. TMX Group has a 1-year low of C$44.10 and a 1-year high of C$57.98. The stock has a market cap of C$13.40 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 12.65 and a beta of -0.16.

TMX Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, June 5th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.96 annualized dividend and a dividend yield of 2.0%. TMX Group's payout ratio is currently 46.07%.

Insider Activity at TMX Group

In other news, insider John Mckenzie bought 35,860 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were acquired at an average cost of C$55.84 per share, with a total value of C$2,002,422.40. Following the transaction, the insider owned 136,634 shares of the company's stock, valued at C$7,629,642.56. This represents a 35.58% increase in their position. 1.15% of the stock is currently owned by insiders.

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.

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