TMX Group (TSE:X) Stock Crosses Above 200-Day Moving Average – What’s Next?

Shares of 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$50.07 and traded as high as C$53.21. TMX Group shares last traded at C$52.73, with a volume of 523,678 shares traded.

Analysts Set New Price Targets

Several research firms recently commented on X. BMO Capital Markets upped their target price on 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 raised their price target on TMX Group from C$69.00 to C$71.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th. Canaccord Genuity Group lifted their price target on TMX Group from C$63.00 to C$64.00 and gave the company a “buy” rating in a report on Monday, June 15th. Raymond James Financial dropped their price objective on shares of TMX Group from C$65.25 to C$64.50 and set a “strong-buy” rating for the company in a research note on Friday, July 31st. Finally, Scotia increased their price objective on shares of TMX Group from C$70.00 to C$71.00 and gave the stock a “sector outperform” rating in a report on Wednesday, May 6th. One 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. Based on data from MarketBeat, TMX Group presently has an average rating of “Moderate Buy” and an average target price of C$65.28.

TMX Group Price Performance

The company has a market capitalization of C$14.47 billion, a PE ratio of 24.21, a PEG ratio of 12.65 and a beta of -0.15. 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 company’s 50 day moving average price is C$50.08 and its 200-day moving average price is C$50.09.

TMX Group (TSE:X) last issued its earnings results on Thursday, July 30th. The company reported C$0.62 earnings per share for the quarter. TMX Group had a return on equity of 3.81% and a net margin of 16.84%.The business had revenue of C$487.50 million for the quarter. On average, sell-side analysts forecast that TMX Group Limited will post 1.7708421 earnings per share for the current fiscal year.

TMX Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 28th will be issued a $0.26 dividend. This is a positive change from TMX Group’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, August 14th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.0%. TMX Group’s dividend payout ratio (DPR) is 42.40%.

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.