TMX Group (TSE:X) Hits New 52-Week High Following Dividend Announcement

Shares of TMX Group Limited (TSE:X) hit a new 52-week high during trading on Friday following a dividend announcement from the company. The company traded as high as C$37.06 and last traded at C$37.02, with a volume of 38641 shares trading hands. The stock had previously closed at C$36.51.

The newly announced dividend which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.04%. This is a positive change from TMX Group’s previous quarterly dividend of $0.18. TMX Group’s dividend payout ratio (DPR) is 55.47%.

Wall Street Analysts Forecast Growth

X has been the subject of several recent research reports. Canaccord Genuity Group set a C$44.00 price target on TMX Group and gave the company a “buy” rating in a research note on Friday, April 26th. National Bankshares boosted their target price on shares of TMX Group from C$37.00 to C$40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 30th. BMO Capital Markets upgraded shares of TMX Group from a “market perform” rating to an “outperform” rating and raised their price target for the company from C$36.00 to C$41.00 in a report on Monday, March 25th. Scotiabank upped their price objective on shares of TMX Group from C$38.00 to C$39.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 30th. Finally, CIBC raised their target price on TMX Group from C$38.00 to C$40.00 and gave the company a “neutral” rating in a report on Friday. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, TMX Group currently has a consensus rating of “Hold” and an average price target of C$39.38.

TMX Group Stock Performance

The company has a debt-to-equity ratio of 26.67, a quick ratio of 0.01 and a current ratio of 1.00. The firm has a 50 day moving average price of C$35.51 and a two-hundred day moving average price of C$32.76. The company has a market capitalization of C$10.29 billion, a P/E ratio of 29.07, a price-to-earnings-growth ratio of 12.65 and a beta of 0.39.

TMX Group (TSE:X) last posted its earnings results on Monday, February 5th. The company reported C$0.37 earnings per share for the quarter, hitting the consensus estimate of C$0.37. TMX Group had a net margin of 12.28% and a return on equity of 9.10%. The business had revenue of C$301.50 million for the quarter, compared to analyst estimates of C$300.05 million. On average, research analysts expect that TMX Group Limited will post 1.6194927 earnings per share for the current fiscal year.

Insider Buying and Selling at TMX Group

In related news, Senior Officer Luc Fortin sold 15,140 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of C$35.32, for a total transaction of C$534,744.80. In other news, Senior Officer Jayakumar Rajarathinam sold 95,750 shares of TMX Group stock in a transaction on Thursday, February 8th. The stock was sold at an average price of C$33.78, for a total value of C$3,234,636.08. Also, Senior Officer Luc Fortin sold 15,140 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of C$35.32, for a total value of C$534,744.80. Corporate insiders own 5.57% of the company’s stock.

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.