TMX Group (TSE:X) Reaches New 52-Week High on Strong Earnings

TMX Group Limited (TSE:X)’s share price reached a new 52-week high during trading on Thursday following a better than expected earnings announcement. The stock traded as high as C$45.92 and last traded at C$44.60, with a volume of 2000 shares. The stock had previously closed at C$43.90.

The company reported C$0.41 EPS for the quarter, beating analysts’ consensus estimates of C$0.40 by C$0.01. TMX Group had a net margin of 13.39% and a return on equity of 10.08%. The company had revenue of C$353.80 million for the quarter, compared to analyst estimates of C$356.24 million.

TMX Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 30th were given a dividend of $0.19 per share. The ex-dividend date was Friday, August 16th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.75%. TMX Group’s payout ratio is presently 50.34%.

Wall Street Analysts Forecast Growth

X has been the topic of several recent research reports. TD Securities increased their price target on TMX Group from C$42.00 to C$43.00 and gave the stock a “hold” rating in a report on Monday. Royal Bank of Canada boosted their price target on shares of TMX Group from C$44.00 to C$46.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Barclays raised their price objective on shares of TMX Group from C$40.00 to C$42.00 in a research note on Friday, August 2nd. National Bankshares boosted their target price on shares of TMX Group from C$43.00 to C$44.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Finally, BMO Capital Markets raised their price target on shares of TMX Group from C$44.00 to C$46.00 in a research report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$44.31.

Insider Activity at TMX Group

In related news, Senior Officer Jayakumar Rajarathinam sold 38,125 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of C$41.44, for a total value of C$1,579,766.56. In related news, Senior Officer Jayakumar Rajarathinam sold 38,125 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of C$41.44, for a total value of C$1,579,766.56. Also, Director Elias Anastasopoulos sold 20,850 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of C$42.50, for a total value of C$886,125.00. 1.15% of the stock is owned by corporate insiders.

TMX Group Stock Down 0.9 %

The stock has a market capitalization of C$12.07 billion, a P/E ratio of 29.59, a PEG ratio of 12.65 and a beta of 0.43. The stock has a 50 day moving average price of C$43.01 and a 200-day moving average price of C$40.00. The company has a debt-to-equity ratio of 51.71, a current ratio of 1.00 and a quick ratio of 0.01.

TMX Group Company Profile

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.