TMX Group (TSE:X) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

TMX Group Limited (TSE:X)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$50.88 and traded as high as C$53.14. TMX Group shares last traded at C$52.31, with a volume of 794,525 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on X shares. National Bank Financial raised TMX Group from a “hold” rating to an “outperform” rating and cut their price objective for the stock from C$65.00 to C$63.00 in a research report on Monday, July 27th. Barclays increased their target price on shares of TMX Group from C$58.00 to C$59.00 in a research note on Thursday, July 9th. Canaccord Genuity Group lifted their price target on shares of TMX Group from C$63.00 to C$64.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Royal Bank Of Canada boosted their price target 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. Finally, Raymond James Financial decreased their price objective on shares of TMX Group from C$65.25 to C$64.50 and set a “strong-buy” rating on the stock in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, TMX Group presently has an average rating of “Moderate Buy” and a consensus price target of C$65.28.

TMX Group Stock Up 1.5%

The company has a market capitalization of C$14.63 billion, a PE ratio of 24.48, a PEG ratio of 12.65 and a beta of -0.14. The company has a current ratio of 2.76, a quick ratio of 0.01 and a debt-to-equity ratio of 41.81. The business has a fifty day moving average of C$51.91 and a 200 day moving average of C$50.90.

TMX Group (TSE:X) last issued its quarterly earnings results on Thursday, July 30th. The company reported C$0.62 earnings per share (EPS) for the quarter. The business had revenue of C$487.50 million for the quarter. TMX Group had a net margin of 32.55% and a return on equity of 3.81%. Equities research analysts anticipate that TMX Group Limited will post 1.7708421 EPS for the current year.

TMX Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 28th were issued a dividend of $0.26 per share. This is a boost from TMX Group’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, August 14th. This represents a $1.04 dividend on an annualized basis and a yield of 2.0%. TMX Group’s dividend payout ratio (DPR) is currently 42.40%.

Insider Buying and Selling

In other TMX Group news, insider Cheryl Graden sold 17,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of C$54.14, for a total value of C$920,380.00. Over the last three months, insiders have sold 41,735 shares of company stock valued at $2,268,124. Company insiders own 1.15% of the company’s stock.

TMX Group Company Profile

TMX Group operates global markets, and builds digital communities and analytic solutions that facilitate the funding, growth and success of businesses, traders and investors. TMX Group’s key operations include Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, TSX Trust, TMX Trayport, TMX Datalinx, TMX VettaFi and TMX Newsfile, which provide listing markets, trading markets, clearing facilities, depository services, technology solutions, data products and other services to the global financial community.