Royal Bank of Canada Trims TMX Group (TSE:X) Target Price to C$39.00

TMX Group (TSE:X) had its price target trimmed by Royal Bank of Canada from C$40.00 to C$39.00 in a report issued on Sunday, BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

A number of other analysts have also recently weighed in on the company. Scotiabank increased their price objective on TMX Group from C$38.00 to C$39.00 and gave the stock a sector perform rating in a research report on Tuesday, April 30th. BMO Capital Markets raised TMX Group from a market perform rating to an outperform rating and increased their price objective for the stock from C$36.00 to C$41.00 in a research report on Monday, March 25th. Canaccord Genuity Group set a C$44.00 price objective on TMX Group and gave the stock a buy rating in a research report on Friday, April 26th. National Bankshares increased their target price on TMX Group from C$37.00 to C$40.00 and gave the stock a sector perform rating in a research note on Tuesday, April 30th. Finally, Barclays increased their target price on TMX Group from C$35.00 to C$38.00 in a research note on Monday, April 8th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, TMX Group presently has a consensus rating of Hold and a consensus target price of C$39.88.

TMX Group Stock Down 0.4 %

Shares of TSE X opened at C$36.86 on Friday. The stock has a market cap of C$10.20 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 12.65 and a beta of 0.39. The company has a quick ratio of 0.01, a current ratio of 1.00 and a debt-to-equity ratio of 26.67. TMX Group has a 52-week low of C$28.23 and a 52-week high of C$37.59. The business has a 50-day moving average price of C$35.62 and a 200 day moving average price of C$32.88.

TMX Group (TSE:X) last posted its quarterly earnings data on Thursday, May 2nd. The company reported C$0.38 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.37 by C$0.01. TMX Group had a return on equity of 9.10% and a net margin of 12.28%. The company had revenue of C$345.90 million during the quarter, compared to analysts’ expectations of C$338.61 million. Equities research analysts forecast that TMX Group will post 1.6194927 earnings per share for the current year.

TMX Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 31st will be paid a $0.19 dividend. This is an increase from TMX Group’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, May 16th. TMX Group’s dividend payout ratio (DPR) is presently 55.47%.

Insider Activity at TMX Group

In related news, Senior Officer Luc Fortin sold 15,140 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of C$35.32, for a total value of C$534,744.80. In other TMX Group news, Senior Officer Luc Fortin sold 15,140 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of C$35.32, for a total transaction of C$534,744.80. Also, Senior Officer Jayakumar Rajarathinam sold 95,750 shares of the firm’s 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. 5.57% of the stock is currently owned by company insiders.

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.