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

Key Points

• TMX Group shares moved above their 200-day moving average, reaching C$53.21 before closing at C$52.73, compared with the C$50.07 long-term average.
• Analyst sentiment remains positive: the stock has a consensus “Moderate Buy” rating and a C$65.28 price target, with multiple firms recently raising targets or upgrading the shares.
• TMX Group reported quarterly revenue of C$487.50 million and earnings of C$0.62 per share, while increasing its quarterly dividend from C$0.24 to C$0.26, implying a 2.0% annualized yield.

TMX Group Limited (TSE:X - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$50.07 and traded as high as C$53.21. TMX Group shares last traded at C$52.73, with a volume of 523,678 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on X shares. National Bank Financial upgraded shares of TMX Group from a "hold" rating to an "outperform" rating and reduced their price target for the company from C$65.00 to C$63.00 in a research report on Monday, July 27th. Canaccord Genuity Group lifted their price objective on shares of TMX Group from C$63.00 to C$64.00 and gave the stock a "buy" rating in a research report on Monday, June 15th. Barclays boosted their target price on shares of TMX Group from C$58.00 to C$59.00 in a research note on Thursday, July 9th. Royal Bank Of Canada increased their target price on shares of 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. Finally, Scotia raised their price target on shares of TMX Group from C$70.00 to C$71.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$65.28.

TMX Group Price Performance

The company has a debt-to-equity ratio of 41.81, a quick ratio of 0.01 and a current ratio of 2.76. The company has a market cap of C$14.52 billion, a P/E ratio of 24.30, a P/E/G ratio of 12.65 and a beta of -0.15. The firm has a 50 day moving average price of C$50.03 and a two-hundred day moving average price of C$50.07.

TMX Group (TSE:X - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported C$0.62 earnings per share for the quarter. TMX Group had a return on equity of 3.81% and a net margin of 16.84%.The company had revenue of C$487.50 million during the quarter. On average, analysts predict that TMX Group Limited will post 1.7708421 EPS for the current fiscal year.

TMX Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 28th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. This is an increase from TMX Group's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, August 14th. TMX Group's payout ratio is presently 42.40%.

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.

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