TMX Group (TSE:X) Price Target Raised to C$38.00

TMX Group (TSE:X) had its target price raised by CIBC from C$35.00 to C$38.00 in a report released on Friday morning, BayStreet.CA reports.

Several other research firms have also issued reports on X. Scotiabank upped their target price on TMX Group from C$36.00 to C$38.00 and gave the company a sector perform rating in a report on Wednesday, February 7th. Royal Bank of Canada upped their target price on TMX Group from C$34.00 to C$36.00 and gave the company a sector perform rating in a report on Tuesday, February 6th. BMO Capital Markets upgraded TMX Group from a market perform rating to an outperform rating and upped their price objective for the company from C$36.00 to C$41.00 in a research note on Monday, March 25th. Barclays upped their price objective on TMX Group from C$35.00 to C$38.00 in a research note on Monday, April 8th. Finally, TD Securities upped their price objective on TMX Group from C$34.00 to C$35.00 and gave the company a hold rating in a research note on Wednesday, February 7th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, TMX Group currently has an average rating of Hold and an average price target of C$38.38.

TMX Group Stock Performance

X stock opened at C$36.38 on Friday. The firm has a market cap of C$10.06 billion, a PE ratio of 28.42, a P/E/G ratio of 12.65 and a beta of 0.39. The company has a quick ratio of 0.01, a current ratio of 1.00 and a debt-to-equity ratio of 26.67. The business has a 50 day moving average of C$35.29 and a 200-day moving average of C$32.56. TMX Group has a 12-month low of C$27.13 and a 12-month high of C$37.01.

TMX Group (TSE:X) last released its earnings results on Monday, February 5th. The company reported C$0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$0.37. The company had revenue of C$301.50 million during the quarter, compared to analyst estimates of C$300.05 million. TMX Group had a return on equity of 9.10% and a net margin of 12.28%. As a group, sell-side analysts expect that TMX Group will post 1.6194927 earnings per share for the current year.

TMX Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, March 8th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.72 annualized dividend and a dividend yield of 1.98%. TMX Group’s dividend payout ratio is currently 55.47%.

Insiders Place Their Bets

In other TMX Group news, Senior Officer Luc Fortin sold 15,140 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of C$35.32, for a total transaction of C$534,744.80. In related news, Senior Officer Luc Fortin sold 15,140 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of C$35.32, for a total value of C$534,744.80. Also, Senior Officer Jayakumar Rajarathinam sold 95,750 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of C$33.78, for a total value of C$3,234,636.08. Company insiders own 5.57% of the company’s stock.

About TMX Group

TMX Group Limited operates exchanges, markets, and clearinghouses primarily for capital markets in Canada, the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Global Solutions, Insights & Analytics; Capital Formation; Derivatives Trading & Clearing; and Equities and Fixed Income Trading & Clearing.