TMX Group (TSE:X) Stock Passes Above 200 Day Moving Average - Should You Sell?

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 passed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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

X has been the topic of a number of research reports. Barclays lifted their price target on shares of TMX Group from C$56.00 to C$58.00 in a research note on Thursday, July 10th. Canaccord Genuity Group lifted their price objective on shares of TMX Group from C$52.00 to C$58.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. National Bankshares lifted their price objective on shares of TMX Group from C$58.00 to C$59.00 and gave the company a "sector perform" rating in a report on Monday, August 4th. Scotiabank lifted their price objective on shares of TMX Group from C$63.00 to C$65.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. Finally, Raymond James Financial lifted their price objective on shares of TMX Group from C$59.00 to C$62.50 and gave the company an "outperform" rating in a report on Friday, August 1st. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, TMX Group currently has a consensus rating of "Hold" and a consensus target price of C$59.81.

TMX Group Trading Up 1.0%

The business has a fifty day moving average of C$56.31 and a 200-day moving average of C$53.96. The company has a debt-to-equity ratio of 47.49, a quick ratio of 0.01 and a current ratio of 1.01. The company has a market capitalization of C$15.33 billion, a P/E ratio of 31.82, a PEG 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. Shareholders of record on Friday, August 29th will be paid a $0.22 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.88 annualized dividend and a yield of 1.6%. This is an increase from TMX Group's previous quarterly dividend of $0.20. 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.