TMX Group (TSE:X) Stock Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• TMX Group's shares have crossed above their 200-day moving average at C$53.29, trading as high as C$57.67 during recent sessions.
• Several analysts have raised their price targets for TMX Group, with consensus rating remaining at "Hold" and an average target price of C$59.81.
• The company has announced an increase in its quarterly dividend to $0.22 per share, reflecting a positive change from the previous dividend of $0.20.

TMX Group Limited (TSE:X - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$53.29 and traded as high as C$57.67. TMX Group shares last traded at C$56.66, with a volume of 193,273 shares changing hands.

Analysts Set New Price Targets

A number of research firms have issued reports on X. TD Securities raised their price target on shares of TMX Group from C$57.00 to C$58.00 and gave the stock a "hold" rating in a report on Tuesday, August 5th. Raymond James Financial upped their target price on TMX Group from C$59.00 to C$62.50 and gave the company an "outperform" rating in a research report on Friday, August 1st. BMO Capital Markets lifted their price target on TMX Group from C$57.00 to C$61.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Canaccord Genuity Group boosted their price target on TMX Group from C$52.00 to C$58.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Scotiabank increased their price objective on 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, TMX Group has a consensus rating of "Hold" and an average target price of C$59.81.

TMX Group Trading Down 1.8%

The firm has a market cap of C$15.76 billion, a price-to-earnings ratio of 32.71, a price-to-earnings-growth ratio of 12.65 and a beta of 0.43. 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 50 day moving average price of C$56.25 and a 200 day moving average price of C$53.29.

TMX Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 29th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from TMX Group's previous quarterly dividend of $0.20. TMX Group's dividend payout ratio is currently 42.72%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.