TMX Group (TSE:X) Reaches New 12-Month High on Analyst Upgrade

Key Points

• TMX Group Limited's stock reached a new 52-week high of C$57.98 following a price target increase by TD Securities from C$57.00 to C$58.00, with the firm maintaining a "hold" rating.
• Several brokerages, including Scotiabank and BMO Capital Markets, have increased their price targets on TMX Group shares, indicating a generally positive outlook among analysts.
• The company recently announced a dividend increase to $0.22 per share, reflecting its commitment to returning value to shareholders, with a current annualized yield of 1.5%.

TMX Group Limited (TSE:X - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday after TD Securities raised their price target on the stock from C$57.00 to C$58.00. TD Securities currently has a hold rating on the stock. TMX Group traded as high as C$57.98 and last traded at C$57.98, with a volume of 719591 shares. The stock had previously closed at C$55.83.

Other equities analysts also recently issued reports about the company. Scotiabank lifted their target price on TMX Group from C$63.00 to C$65.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. Canaccord Genuity Group lifted their target price on TMX Group from C$52.00 to C$58.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. National Bankshares boosted their price objective on TMX Group from C$58.00 to C$59.00 and gave the stock a "sector perform" rating in a research report on Monday, August 4th. Raymond James Financial upped their target price on shares of TMX Group from C$59.00 to C$62.50 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Finally, CIBC upped their target price on shares of TMX Group from C$55.00 to C$57.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of C$59.81.

TMX Group Trading Down 0.1%

The company has a quick ratio of 0.01, a current ratio of 1.01 and a debt-to-equity ratio of 47.49. The business has a fifty day simple moving average of C$56.23 and a 200 day simple moving average of C$53.17. The company has a market cap of C$16.05 billion, a price-to-earnings ratio of 33.31, a P/E/G ratio of 12.65 and a beta of 0.43.

TMX Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 29th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.5%. This is an increase from TMX Group's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, August 15th. 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.