TMX Group (TSE:X) Price Target Raised to C$40.00

TMX Group (TSE:X) had its target price lifted by CIBC from C$38.00 to C$40.00 in a research note published on Friday morning, BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

X has been the topic of a number of other research reports. National Bankshares increased their price objective on TMX Group from C$37.00 to C$40.00 and gave the company a sector perform rating in a report on Tuesday, April 30th. Royal Bank of Canada lifted their price target on shares of TMX Group from C$36.00 to C$38.00 and gave the company a sector perform rating in a research report on Monday, April 29th. Scotiabank boosted their price objective on shares of TMX Group from C$38.00 to C$39.00 and gave the stock a sector perform rating in a research note on Tuesday, April 30th. BMO Capital Markets upgraded shares of TMX Group from a market perform rating to an outperform rating and raised their target price for the company from C$36.00 to C$41.00 in a research note on Monday, March 25th. Finally, Canaccord Genuity Group set a C$44.00 target price on shares of TMX Group and gave the stock a buy rating in a research report on Friday, April 26th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, TMX Group currently has an average rating of Hold and an average target price of C$39.88.

TMX Group Stock Performance

X stock opened at C$37.00 on Friday. The company has a market capitalization of C$10.24 billion, a price-to-earnings ratio of 28.91, a P/E/G ratio of 12.65 and a beta of 0.39. The firm has a 50 day moving average of C$35.57 and a two-hundred day moving average of C$32.83. The company has a quick ratio of 0.01, a current ratio of 1.00 and a debt-to-equity ratio of 26.67. TMX Group has a 12 month low of C$28.23 and a 12 month high of C$37.59.

TMX Group (TSE:X) last issued its quarterly earnings data on Thursday, May 2nd. The company reported C$0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.37 by C$0.01. TMX Group had a net margin of 12.28% and a return on equity of 9.10%. The firm had revenue of C$345.90 million during the quarter, compared to analysts’ expectations of C$338.61 million. As a group, equities analysts anticipate that TMX Group will post 1.6194927 EPS for the current fiscal year.

TMX Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 31st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.05%. This is an increase from TMX Group’s previous quarterly dividend of $0.18. The ex-dividend date is Thursday, May 16th. TMX Group’s dividend payout ratio (DPR) is presently 55.47%.

Insider Activity at TMX Group

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

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.