TMX Group (TSE:X) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• TMX Group's stock has crossed above its 200-day moving average of C$54.12, with shares trading at C$54.85 and a recent high of C$55.20.
• Several analysts have raised their price targets for TMX Group, with an average consensus price target of C$59.81 and ratings indicating three "Buy" and four "Hold" assessments.
• The company declared a quarterly dividend of $0.22 per share, representing a 10% increase from the previous dividend and yielding 1.6%.

TMX Group Limited (TSE:X - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$54.12 and traded as high as C$55.20. TMX Group shares last traded at C$54.85, with a volume of 566,811 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on X. Scotiabank increased their price target on shares of TMX Group from C$63.00 to C$65.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. TD Securities boosted their target price 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 increased their price objective on shares of 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. BMO Capital Markets raised their target price on TMX Group from C$57.00 to C$61.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Finally, Canaccord Genuity Group boosted 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. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of C$59.81.

TMX Group Price Performance

The stock has a market capitalization of C$15.25 billion, a P/E ratio of 36.31, a PEG ratio of 12.65 and a beta of 0.14. The business has a fifty day simple moving average of C$56.14 and a 200-day simple moving average of C$54.12. The company has a debt-to-equity ratio of 47.49, a quick ratio of 0.01 and a current ratio of 1.01.

TMX Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 29th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, August 15th. This is an increase from TMX Group's previous quarterly dividend of $0.20. TMX Group's payout ratio is presently 51.66%.

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.