TMX Group (TSE:X) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• TMX Group shares moved above their 200-day moving average on Friday, trading as high as C$50.47 before last changing hands at C$49.93.
• Several analysts recently raised price targets on the stock, and MarketBeat now shows a consensus rating of “Moderate Buy” with an average target price of C$65.47.
• The company also paid a quarterly dividend of C$0.24 per share, equal to an annualized yield of 1.9%, while insider John Mckenzie sold 69,970 shares in May.

TMX Group Limited (TSE:X - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$49.88 and traded as high as C$50.47. TMX Group shares last traded at C$49.93, with a volume of 803,084 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Raymond James Financial upped their target price on TMX Group from C$61.50 to C$65.25 and gave the company a "strong-buy" rating in a research report on Friday, June 12th. National Bank Financial lifted their price target on TMX Group from C$63.00 to C$64.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 5th. Scotia boosted their price target on TMX Group from C$70.00 to C$71.00 and gave the company a "sector outperform" rating in a research note on Wednesday, May 6th. Canaccord Genuity Group upped their price objective on TMX Group from C$63.00 to C$64.00 and gave the company a "buy" rating in a report on Monday, June 15th. Finally, BMO Capital Markets increased their price objective on TMX Group from C$62.00 to C$65.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$65.47.

TMX Group Trading Down 0.5%

The company has a debt-to-equity ratio of 44.08, a quick ratio of 0.01 and a current ratio of 2.35. The company has a market capitalization of C$13.79 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 12.65 and a beta of -0.16. The firm has a fifty day moving average price of C$49.68 and a 200-day moving average price of C$49.88.

TMX Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, June 5th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, May 22nd. TMX Group's dividend payout ratio is presently 46.07%.

Insiders Place Their Bets

In other TMX Group news, insider John Mckenzie sold 69,970 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of C$54.71, for a total value of C$3,828,058.70. Following the transaction, the insider directly owned 100,774 shares of the company's stock, valued at approximately C$5,513,345.54. The trade was a 40.98% decrease in their ownership of the stock. 1.15% of the stock is owned by corporate insiders.

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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