TMX Group (TSE:X) Stock Gets Price Target Cut from RBC Dominion Securities

TMX Group (TSE:X) had its price target trimmed by RBC Dominion Securities from C$69.00 to C$67.00 in a report published on Thursday morning,BayStreet reports. The firm currently has an outperform rating on the stock.

Other research analysts have also recently issued reports about the company. Barclays upped their price objective on TMX Group from C$58.00 to C$59.00 in a research report on Thursday, July 9th. National Bank Financial raised TMX Group from a “hold” rating to an “outperform” rating and dropped their target price for the company from C$65.00 to C$63.00 in a research report on Monday, July 27th. Raymond James Financial dropped their target price on TMX Group from C$65.25 to C$64.50 and set a “strong-buy” rating on the stock in a research report on Friday, July 31st. Finally, Canaccord Genuity Group boosted their target price on TMX Group from C$64.00 to C$65.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$65.55.

TMX Group Trading Down 0.3%

Shares of TSE:X opened at C$54.13 on Thursday. TMX Group has a 12 month low of C$44.10 and a 12 month high of C$57.27. The company has a quick ratio of 0.01, a current ratio of 2.76 and a debt-to-equity ratio of 41.81. The company’s fifty day simple moving average is C$53.39 and its 200 day simple moving average is C$51.84. The firm has a market cap of C$14.91 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 12.65 and a beta of -0.17.

TMX Group (TSE:X) last announced its earnings results on Thursday, July 30th. The company reported C$0.62 earnings per share for the quarter. The firm had revenue of C$487.50 million during the quarter. TMX Group had a net margin of 32.55% and a return on equity of 3.81%. As a group, research analysts forecast that TMX Group will post 1.77 EPS for the current fiscal year.

TMX Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 28th were issued a dividend of $0.26 per share. The ex-dividend date was Friday, August 14th. This is a boost from TMX Group’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a yield of 1.9%. TMX Group’s dividend payout ratio is currently 42.40%.

Insider Buying and Selling

In related news, insider Cheryl Graden sold 17,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of C$54.14, for a total transaction of C$920,380.00. Insiders sold 41,735 shares of company stock worth $2,268,124 over the last ninety days. Corporate insiders own 1.15% of the company’s stock.

About TMX Group

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.