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

Shares of TMX Group Limited (TSE:X) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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.

Analyst Ratings Changes

A number of brokerages recently issued reports on X. National Bank Financial increased their price objective on TMX Group from C$63.00 to C$64.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 5th. BMO Capital Markets lifted their price objective on shares of TMX Group from C$62.00 to C$65.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Canaccord Genuity Group upped their target price on TMX Group from C$63.00 to C$64.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Scotia raised their price objective on TMX Group from C$70.00 to C$71.00 and gave the company a “sector outperform” rating in a research note on Wednesday, May 6th. Finally, Raymond James Financial lifted their target price on shares of TMX Group from C$61.50 to C$65.25 and gave the stock a “strong-buy” rating in a research note on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, TMX Group presently has a consensus rating of “Moderate Buy” and an average price target of C$65.47.

TMX Group Price Performance

The company has a debt-to-equity ratio of 44.08, a quick ratio of 0.01 and a current ratio of 2.35. The firm has a market capitalization of C$13.79 billion, a P/E ratio of 26.14, a PEG ratio of 12.65 and a beta of -0.16. The firm has a 50-day moving average of C$49.68 and a 200-day moving average of C$49.88.

TMX Group Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, May 22nd. TMX Group’s dividend payout ratio (DPR) is presently 46.07%.

Insider Activity

In related news, insider John Mckenzie bought 35,860 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average cost of C$55.84 per share, for a total transaction of C$2,002,422.40. Following the completion of the transaction, the insider owned 136,634 shares of the company’s stock, valued at approximately C$7,629,642.56. This trade represents a 35.58% increase in their ownership of the stock. 1.15% of the stock is currently owned by insiders.

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.