TMX Group (TSE:X) Reaches New 1-Year High on Analyst Upgrade

TMX Group Limited (TSE:X) reached a new 52-week high on Tuesday after TD Securities raised their price target on the stock from C$57.00 to C$58.00. TD Securities currently has a hold rating on the stock. TMX Group traded as high as C$57.98 and last traded at C$57.98, with a volume of 719591 shares. The stock had previously closed at C$55.83.

X has been the subject of several other reports. Scotiabank upped their target price on TMX Group from C$63.00 to C$65.00 and gave the company a “sector perform” rating in a research note on Friday, August 1st. Barclays upped their price target on TMX Group from C$56.00 to C$58.00 in a research note on Thursday, July 10th. National Bankshares upped their price target on TMX Group from C$58.00 to C$59.00 and gave the stock a “sector perform” rating in a research note on Monday. BMO Capital Markets upped their price target on TMX Group from C$57.00 to C$61.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 16th. Finally, CIBC upped their price target on TMX Group from C$55.00 to C$57.00 and gave the stock a “neutral” rating in a research note on Monday, April 28th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$59.81.

TMX Group Stock Up 3.9%

The firm has a market cap of C$16.13 billion, a price-to-earnings ratio of 33.47, a price-to-earnings-growth ratio of 12.65 and a beta of 0.43. The company has a current ratio of 1.01, a quick ratio of 0.01 and a debt-to-equity ratio of 47.49. The stock has a 50-day moving average of C$56.15 and a 200-day moving average of C$52.92.

TMX Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 15th. This is an increase from TMX Group’s previous quarterly dividend of $0.20. TMX Group’s dividend payout ratio (DPR) is presently 42.72%.

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.