TMX Group (TSE:X) Sets New 52-Week High After Earnings Beat

TMX Group Limited (TSE:X) shares 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 trading hands. The stock had previously closed at C$43.90.

The company reported C$0.41 earnings per share (EPS) for the quarter, topping 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 firm had revenue of C$353.80 million for the quarter, compared to the consensus estimate of C$356.24 million.

TMX Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Friday, November 15th. TMX Group’s dividend payout ratio (DPR) is presently 50.34%.

Analyst Upgrades and Downgrades

Several research firms recently commented on X. TD Securities raised their target price on TMX Group from C$42.00 to C$43.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. National Bankshares raised their price objective 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. Scotiabank boosted their target price on shares of TMX Group from C$39.00 to C$43.50 in a research report on Wednesday, July 24th. Royal Bank of Canada increased their target price on shares of TMX Group from C$44.00 to C$46.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Barclays lifted their price target on shares of TMX Group from C$40.00 to C$42.00 in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$44.81.

Insider Buying and Selling at TMX Group

In other TMX Group news, Director Elias Anastasopoulos sold 20,850 shares of TMX Group stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of C$42.50, for a total transaction of C$886,125.00. In other news, Senior Officer Jayakumar Rajarathinam sold 38,125 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was 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 firm’s 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 currently owned by company insiders.

TMX Group Price Performance

The business has a 50-day moving average price of C$43.06 and a 200 day moving average price of C$40.10. The stock has a market cap of C$12.08 billion, a PE ratio of 29.61, a PEG ratio of 12.65 and a beta of 0.43. The company has a current ratio of 1.00, a quick ratio of 0.01 and a debt-to-equity ratio of 51.71.

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.