TMX Group (TSE:X) Price Target Cut to C$39.00 by Analysts at Royal Bank of Canada

TMX Group (TSE:X) had its target price reduced by equities researchers at Royal Bank of Canada from C$40.00 to C$39.00 in a report issued on Sunday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 5.41% from the stock’s current price.

A number of other equities analysts have also recently issued reports on X. TD Securities upped their price objective on TMX Group from C$34.00 to C$35.00 and gave the stock a “hold” rating in a report on Wednesday, February 7th. Scotiabank upped their target price on 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. Barclays lifted their price target on shares of TMX Group from C$35.00 to C$38.00 in a research note on Monday, April 8th. BMO Capital Markets raised shares of TMX Group from a “market perform” rating to an “outperform” rating and increased their target price for the company from C$36.00 to C$41.00 in a report on Monday, March 25th. Finally, Canaccord Genuity Group set a C$44.00 price target on shares of TMX Group and gave the stock a “buy” rating in a research note on Friday, April 26th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$39.88.

TMX Group Price Performance

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

TMX Group (TSE:X) last posted 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. The company had revenue of C$345.90 million during the quarter, compared to the consensus estimate of C$338.61 million. TMX Group had a net margin of 12.28% and a return on equity of 9.10%. On average, analysts predict that TMX Group will post 1.6194927 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Senior Officer Jayakumar Rajarathinam sold 95,750 shares of the firm’s stock in a transaction dated 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. In other TMX Group news, Senior Officer Luc Fortin sold 15,140 shares of TMX Group 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 transaction of C$534,744.80. Also, Senior Officer Jayakumar Rajarathinam sold 95,750 shares of TMX Group stock in a transaction that occurred on 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. 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.