TMX Group Limited (TSE:X) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of TMX Group Limited (TSE:X) have received a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$64.50.

X has been the topic of a number of research reports. BMO Capital Markets raised their target price on shares of TMX Group from C$62.00 to C$65.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada increased their target price on TMX Group from C$65.00 to C$69.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Scotia increased their target price on TMX Group from C$70.00 to C$71.00 and gave the company a “sector outperform” rating in a research note on Wednesday, May 6th. Raymond James Financial increased their target price on TMX Group from C$61.00 to C$61.50 and gave the company a “strong-buy” rating in a research note on Friday, April 17th. Finally, National Bank Financial increased their target price on TMX Group from C$63.00 to C$64.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 5th.

Insider Buying and Selling at TMX Group

In other news, insider John Mckenzie sold 69,970 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of C$54.71, for a total value of C$3,828,058.70. Following the completion of the transaction, the insider directly owned 100,774 shares in the company, valued at approximately C$5,513,345.54. This represents a 40.98% decrease in their ownership of the stock. Company insiders own 1.15% of the company’s stock.

TMX Group Stock Performance

Shares of X stock opened at C$53.71 on Wednesday. The company’s fifty day simple moving average is C$51.52 and its 200-day simple moving average is C$50.56. TMX Group has a 52 week low of C$44.10 and a 52 week high of C$57.98. The company has a current ratio of 2.35, a quick ratio of 0.01 and a debt-to-equity ratio of 44.08. The company has a market cap of C$14.83 billion, a PE ratio of 28.12, a P/E/G ratio of 12.65 and a beta of -0.34.

TMX Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, June 5th will be paid a $0.24 dividend. The ex-dividend date is Friday, May 22nd. This represents a $0.96 annualized dividend and a dividend yield of 1.8%. TMX Group’s dividend payout ratio is 46.07%.

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.