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

TMX Group Limited (TSE:X)’s share price reached a new 52-week high on Thursday . The stock traded as high as C$50.99 and last traded at C$50.56, with a volume of 83822 shares changing hands. The stock had previously closed at C$50.86.

Analyst Ratings Changes

A number of research analysts have recently weighed in on X shares. TD Securities raised 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. Barclays raised their target price on shares of TMX Group from C$45.00 to C$47.00 in a report on Monday, December 9th. CIBC upped their price target on shares of TMX Group from C$43.00 to C$46.00 in a report on Thursday, October 31st. National Bankshares boosted their price objective on shares of TMX Group from C$43.00 to C$44.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets lifted their price target on TMX Group from C$50.00 to C$62.00 in a report on Thursday, December 5th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of C$47.19.

TMX Group Price Performance

The company has a quick ratio of 0.01, a current ratio of 1.01 and a debt-to-equity ratio of 47.49. The company’s 50-day simple moving average is C$46.06 and its 200 day simple moving average is C$44.20. The company has a market capitalization of C$13.99 billion, a P/E ratio of 29.03, a P/E/G ratio of 12.65 and a beta of 0.43.

TMX Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, March 7th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a yield of 1.59%. This is a boost from TMX Group’s previous quarterly dividend of $0.19. TMX Group’s payout ratio is presently 42.72%.

Insider Buying and Selling at TMX Group

In related news, Senior Officer Jayakumar Rajarathinam sold 40,000 shares of the company’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. Corporate insiders own 1.15% of the company’s stock.

About TMX Group

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.