TMX Group (TSE:X) Shares Pass Above 200-Day Moving Average - Here's Why

Key Points

• TMX Group's share price has crossed above its 200-day moving average, reaching a high of C$56.36 and last trading at C$55.93.
• Analysts have increased their price targets for TMX Group, with a consensus price target now at C$59.81 and three analysts rating it as a "Buy."
• The company has announced a quarterly dividend of $0.22 per share, an increase from the previous dividend of $0.20, representing an annual yield of 1.6%.

TMX Group Limited (TSE:X - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$53.85 and traded as high as C$56.36. TMX Group shares last traded at C$55.93, with a volume of 667,876 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. National Bankshares increased their price target on TMX Group from C$58.00 to C$59.00 and gave the company a "sector perform" rating in a research report on Monday, August 4th. Raymond James Financial raised their target price on TMX Group from C$59.00 to C$62.50 and gave the stock an "outperform" rating in a research report on Friday, August 1st. TD Securities raised their target price on TMX Group from C$57.00 to C$58.00 and gave the stock a "hold" rating in a research report on Tuesday, August 5th. Barclays raised their target price on TMX Group from C$56.00 to C$58.00 in a research report on Thursday, July 10th. Finally, Scotiabank raised their target price on TMX Group from C$63.00 to C$65.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of C$59.81.

TMX Group Trading Down 0.9%

The firm has a 50 day simple moving average of C$56.36 and a 200 day simple moving average of C$53.96. 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$15.17 billion, a PE ratio of 31.48, a P/E/G ratio of 12.65 and a beta of 0.43.

TMX Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 29th will be issued a $0.22 dividend. 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 1.6%. This is an increase from TMX Group's previous quarterly dividend of $0.20. TMX Group's 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.