TMX Group (TSE:X) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• TMX Group shares crossed above their 200-day moving average, trading as high as C$53.13 and last changing hands at C$52.95. The stock has a consensus “Moderate Buy” rating and an average analyst target of C$65.28.
• Recent quarterly results included C$0.62 in earnings per share and C$487.5 million in revenue, while the company reported a 16.84% net margin and 3.81% return on equity.
• TMX Group increased its quarterly dividend to C$0.26 per share, equivalent to C$1.04 annually and a 2.0% yield; the dividend is scheduled for payment on August 28.

Shares of TMX Group Limited (TSE:X - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$49.95 and traded as high as C$53.13. TMX Group shares last traded at C$52.95, with a volume of 1,167,268 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on X. Canaccord Genuity Group increased their price objective on TMX Group from C$63.00 to C$64.00 and gave the company a "buy" rating in a research report on Monday, June 15th. Raymond James Financial dropped their price objective on TMX Group from C$65.25 to C$64.50 and set a "strong-buy" rating on the stock in a report on Friday, July 31st. BMO Capital Markets lifted their price target on shares of TMX Group from C$62.00 to C$65.00 and gave the company an "outperform" rating in a research report on Wednesday, May 6th. Barclays increased their price target on shares of TMX Group from C$58.00 to C$59.00 in a report on Thursday, July 9th. Finally, Royal Bank Of Canada boosted their price objective on TMX Group from C$69.00 to C$71.00 and gave the company an "outperform" rating in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$65.28.

TMX Group Trading Up 1.6%

The company has a 50-day simple moving average of C$49.47 and a 200-day simple moving average of C$49.95. The stock has a market cap of C$14.58 billion, a P/E ratio of 24.40, a P/E/G ratio of 12.65 and a beta of -0.15. The company has a debt-to-equity ratio of 41.81, a quick ratio of 0.01 and a current ratio of 2.76.

TMX Group (TSE:X - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported C$0.62 EPS for the quarter. The business had revenue of C$487.50 million during the quarter. TMX Group had a return on equity of 3.81% and a net margin of 16.84%. On average, sell-side analysts forecast that TMX Group Limited will post 1.7708421 EPS for the current fiscal year.

TMX Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 28th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. This is an increase from TMX Group's previous quarterly dividend of $0.24. The ex-dividend date is Friday, August 14th. TMX Group's dividend payout ratio is currently 42.40%.

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.

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