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

Key Points

• TMX Group shares moved above their 200-day moving average, trading as high as C$50.68 before last changing hands at C$50.25. The 200-day average was C$49.95, suggesting a modest technical breakout.
• Several analysts have raised price targets on the stock, with the consensus rating listed as Moderate Buy and an average target of C$65.47. Recent targets from major firms range roughly from C$59 to C$71.
• The company recently paid a quarterly dividend of C$0.24, equal to an annualized yield of about 1.9%. An insider also sold a large block of shares in May, reducing their stake by about 41%.

TMX Group Limited (TSE:X - Get Free Report) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$49.95 and traded as high as C$50.68. TMX Group shares last traded at C$50.25, with a volume of 529,120 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on X. National Bank Financial increased their price target on shares of TMX Group from C$63.00 to C$64.00 and gave the company a "sector perform" rating in a report on Tuesday, May 5th. Raymond James Financial boosted their price objective on TMX Group from C$61.50 to C$65.25 and gave the stock a "strong-buy" rating in a report on Friday, June 12th. Royal Bank Of Canada upped their target price on TMX Group from C$69.00 to C$71.00 and gave the company an "outperform" rating in a research report on Monday, June 15th. Barclays increased their target price on TMX Group from C$58.00 to C$59.00 in a research note on Thursday, July 9th. Finally, Scotia lifted their price target on TMX Group from C$70.00 to C$71.00 and gave the stock a "sector outperform" rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of C$65.47.

TMX Group Price Performance

The company has a quick ratio of 0.01, a current ratio of 2.35 and a debt-to-equity ratio of 44.08. The company's 50 day moving average is C$50.15 and its 200 day moving average is C$49.95. The firm has a market capitalization of C$13.88 billion, a price-to-earnings ratio of 26.31, a P/E/G ratio of 12.65 and a beta of -0.16.

TMX Group Announces Dividend

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

Insider Activity

In other TMX Group news, insider John Mckenzie sold 69,970 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of C$54.71, for a total transaction of C$3,828,058.70. Following the transaction, the insider owned 100,774 shares in the company, valued at C$5,513,345.54. This represents a 40.98% decrease in their position. 1.15% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.