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

Key Points

• TMX Group's stock recently crossed above its 200-day moving average, reaching a high of C$56.83 during trading, and last traded at C$56.64.
• Analysts have generally rated the stock with a consensus of "Hold," while price targets have seen increases, with the highest target set at C$58.00.
• The company declared a quarterly dividend of C$0.20 per share, yielding 1.41%, with a dividend payout ratio of 42.72%.

TMX Group Limited (TSE:X - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$52.45 and traded as high as C$56.83. TMX Group shares last traded at C$56.64, with a volume of 319,535 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Canaccord Genuity Group raised their price objective on TMX Group from C$52.00 to C$58.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. National Bankshares increased their target price on shares of TMX Group from C$55.00 to C$58.00 and gave the stock a "sector perform" rating in a report on Tuesday. TD Securities lifted their price target on shares of TMX Group from C$54.00 to C$57.00 and gave the company a "hold" rating in a report on Wednesday, July 16th. Raymond James Financial upgraded shares of TMX Group to a "moderate buy" rating in a research report on Wednesday, May 28th. Finally, CIBC increased their price objective on shares of 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 analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, TMX Group presently has an average rating of "Hold" and an average price target of C$57.25.

TMX Group Stock Performance

The firm has a market cap of C$15.59 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 12.65 and a beta of 0.43. The business has a 50 day simple moving average of C$56.09 and a two-hundred day simple moving average of C$52.60. The company has a quick ratio of 0.01, a current ratio of 1.01 and a debt-to-equity ratio of 47.49.

TMX Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, June 6th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, May 23rd. TMX Group's dividend payout ratio (DPR) is presently 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.