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

TMX Group Limited (TSE:X) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$49.88 and traded as high as C$50.47. TMX Group shares last traded at C$49.93, with a volume of 803,084 shares changing hands.

Wall Street Analysts Forecast Growth

X has been the topic of several analyst reports. Canaccord Genuity Group lifted their target price 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. National Bank Financial boosted their target price on TMX Group from C$63.00 to C$64.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 5th. Scotia increased their target price on 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. Raymond James Financial raised their price target on TMX Group from C$61.50 to C$65.25 and gave the company a “strong-buy” rating in a report on Friday, June 12th. Finally, Royal Bank Of Canada upped their price objective on TMX Group from C$69.00 to C$71.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$65.47.

TMX Group Trading Down 0.5%

The firm has a market cap of C$13.79 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 12.65 and a beta of -0.16. The business has a 50 day moving average of C$49.68 and a 200 day moving average of C$49.88. The company has a quick ratio of 0.01, a current ratio of 2.35 and a debt-to-equity ratio of 44.08.

TMX Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, June 5th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, May 22nd. TMX Group’s dividend payout ratio is presently 46.07%.

Insider Activity at TMX Group

In other TMX Group news, insider John Mckenzie sold 69,970 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was 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 of the company’s stock, valued at C$5,513,345.54. This represents a 40.98% decrease in their position. Company insiders own 1.15% of the company’s stock.

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.