TMX Group (TSE:X) Hits New 52-Week High – Time to Buy?

TMX Group Limited (TSE:X)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as C$51.55 and last traded at C$51.45, with a volume of 201414 shares. The stock had previously closed at C$50.83.

Wall Street Analysts Forecast Growth

Several research firms recently commented on X. Barclays upped their price objective on TMX Group from C$45.00 to C$47.00 in a research note on Monday, December 9th. TD Securities upped their price target on TMX Group from C$44.00 to C$45.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Finally, BMO Capital Markets lifted their price objective on TMX Group from C$50.00 to C$62.00 in a report on Thursday, December 5th. 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 data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$47.19.

TMX Group Stock Performance

The business has a 50 day moving average of C$46.86 and a 200-day moving average of C$44.59. The company has a market capitalization of C$14.21 billion, a P/E ratio of 29.49, a price-to-earnings-growth ratio of 12.65 and a beta of 0.43. The company has a debt-to-equity ratio of 47.49, a quick ratio of 0.01 and a current ratio of 1.01.

TMX Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, March 7th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, February 21st. This is a boost from TMX Group’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.57%. TMX Group’s dividend payout ratio is currently 42.72%.

Insider Activity

In related news, Senior Officer Jayakumar Rajarathinam sold 40,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of C$49.49, for a total transaction of C$1,979,776.00. 1.15% of the stock is owned by company 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.