TMX Group (TSE:X) Share Price Passes Above 200-Day Moving Average – What’s Next?

TMX Group Limited (TSE:X) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$50.66 and traded as high as C$52.90. TMX Group shares last traded at C$51.99, with a volume of 688,181 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have commented on X shares. Barclays boosted their target price on TMX Group from C$52.00 to C$59.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Scotia upped their price target on 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. National Bank Financial upped their price target on TMX Group from C$63.00 to C$64.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 5th. Raymond James Financial upped their price target on TMX Group from C$61.00 to C$61.50 and gave the stock a “strong-buy” rating in a research note on Friday, April 17th. Finally, Canaccord Genuity Group decreased their price target on TMX Group from C$64.00 to C$61.00 and set a “buy” rating for the company in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, TMX Group presently has a consensus rating of “Moderate Buy” and an average target price of C$64.50.

TMX Group Stock Down 1.1%

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 firm has a market cap of C$14.25 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 12.65 and a beta of -0.34. The firm has a 50-day moving average of C$52.23 and a two-hundred day moving average of C$50.67.

TMX Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, June 5th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $0.96 annualized dividend and a yield of 1.9%. TMX Group’s dividend payout ratio is 46.07%.

Insider Buying and Selling

In other TMX Group news, insider John Mckenzie sold 69,970 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was 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 owned 100,774 shares of the company’s stock, 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 company insiders.

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.