TMX Group (TSE:X) Sets New 52-Week High After 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) 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 changing hands. The stock had previously closed at C$55.83.

Several other brokerages have also recently weighed in on X. Scotiabank upped their price target 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. BMO Capital Markets upped 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 research report on Wednesday, July 16th. Raymond James Financial upped their price objective on shares of TMX Group from C$59.00 to C$62.50 and gave the stock an "outperform" rating in a research report on Friday. National Bankshares upped 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 research report on Monday. Finally, CIBC upped their target price on 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 issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of C$59.81.

TMX Group Stock Up 3.9%

The stock has a market capitalization of C$16.13 billion, a P/E ratio of 33.47, a PEG ratio of 12.65 and a beta of 0.43. The firm's 50-day simple moving average is C$56.12 and its 200 day simple moving average is C$52.89. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 29th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from TMX Group's previous quarterly dividend of $0.20. TMX Group's payout ratio is currently 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.

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