TMX Group (TSE:X) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

TMX Group Limited (TSE:X) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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 trading hands.

Wall Street Analyst Weigh In

Several brokerages recently commented on X. BMO Capital Markets raised their target price on TMX Group from C$62.00 to C$65.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. National Bank Financial boosted 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. Canaccord Genuity Group increased their price objective on shares of TMX Group from C$63.00 to C$64.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Barclays lifted their target price on shares of TMX Group from C$58.00 to C$59.00 in a research report on Thursday, July 9th. Finally, Royal Bank Of Canada upped 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 note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$65.47.

TMX Group Price Performance

The company has a debt-to-equity ratio of 44.08, a quick ratio of 0.01 and a current ratio of 2.35. The company’s 50 day moving average price is C$50.04 and its 200 day moving average price is C$49.94. The company has a market cap of C$13.71 billion, a price-to-earnings ratio of 25.98, a P/E/G ratio of 12.65 and a beta of -0.16.

TMX Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, June 5th were given a $0.24 dividend. The ex-dividend date 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 46.07%.

Insiders Place Their Bets

In other news, insider John Mckenzie acquired 35,860 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was bought at an average price of C$55.84 per share, with a total value of C$2,002,422.40. Following the completion of the acquisition, the insider owned 136,634 shares in the company, valued at approximately C$7,629,642.56. This represents a 35.58% increase in their position. Corporate insiders own 1.15% of the company’s stock.

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.