Raymond James Financial Lowers TMX Group (TSE:X) Price Target to C$64.50

TMX Group (TSE:X) had its price target decreased by Raymond James Financial from C$65.25 to C$64.50 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a “strong-buy” rating on the stock. Raymond James Financial’s price target indicates a potential upside of 25.34% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. Canaccord Genuity Group boosted 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 report on Monday, June 15th. BMO Capital Markets raised their price objective on shares of TMX Group from C$62.00 to C$65.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Royal Bank Of Canada lifted 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. Barclays upped their target price on shares of TMX Group from C$58.00 to C$59.00 in a research note on Thursday, July 9th. 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 research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, TMX Group has an average rating of “Moderate Buy” and a consensus target price of C$65.28.

TMX Group Stock Performance

Shares of TSE:X traded down C$0.26 during trading on Friday, hitting C$51.46. 227,265 shares of the stock were exchanged, compared to its average volume of 879,223. TMX Group has a 1-year low of C$44.10 and a 1-year high of C$57.98. The company has a market capitalization of C$14.21 billion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 12.65 and a beta of -0.16. The company’s fifty day simple moving average is C$49.50 and its 200-day simple moving average is C$49.89. The company has a debt-to-equity ratio of 44.08, a quick ratio of 0.01 and a current ratio of 2.35.

TMX Group (TSE:X) last issued its earnings results on Thursday, July 30th. The company reported C$0.62 EPS for the quarter. The business had revenue of C$487.50 million during the quarter. TMX Group had a return on equity of 3.40% and a net margin of 16.47%. Sell-side analysts expect that TMX Group will post 1.7708421 EPS for the current fiscal year.

Insider Transactions at TMX Group

In other TMX Group news, insider John Mckenzie sold 69,970 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 100,774 shares in the company, valued at C$5,513,345.54. The trade was a 40.98% decrease in their ownership of the stock. 1.15% of the stock is owned by corporate 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.