TMX Group (TSE:X) Upgraded by National Bank Financial to “Outperform” Rating

National Bank Financial upgraded shares of TMX Group (TSE:X) from a sector perform rating to an outperform rating in a report published on Monday morning,BayStreet.CA reports. The brokerage currently has C$63.00 target price on the stock, down from their prior target price of C$65.00.

Several other research analysts also recently commented on X. Raymond James Financial raised their price target on shares of TMX Group from C$61.50 to C$65.25 and gave the company a “strong-buy” rating in a report on Friday, June 12th. Royal Bank Of Canada upped their price target on shares of TMX Group from C$69.00 to C$71.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Canaccord Genuity Group increased their price objective on TMX Group from C$63.00 to C$64.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Barclays lifted their price objective on TMX Group from C$58.00 to C$59.00 in a research note on Thursday, July 9th. Finally, Scotia boosted their target price on TMX Group from C$70.00 to C$71.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$65.36.

TMX Group Price Performance

X stock opened at C$51.35 on Monday. The firm has a 50 day moving average of C$49.63 and a 200-day moving average of C$49.87. The firm has a market capitalization of C$14.18 billion, a P/E ratio of 26.88, a price-to-earnings-growth ratio of 12.65 and a beta of -0.16. TMX Group has a 12 month low of C$44.10 and a 12 month high of C$57.98. The company has a current ratio of 2.35, a quick ratio of 0.01 and a debt-to-equity ratio of 44.08.

TMX Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, June 5th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, May 22nd. TMX Group’s payout ratio is currently 46.07%.

Insider Activity at TMX Group

In other news, insider John Mckenzie sold 69,970 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of C$54.71, for a total value of C$3,828,058.70. Following the transaction, the insider owned 100,774 shares of the company’s stock, valued at C$5,513,345.54. This represents a 40.98% decrease in their position. 1.15% of the stock is owned by insiders.

TMX Group Company Profile

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.