TMX Group (TSE:X) Reaches New 1-Year High Following Better-Than-Expected Earnings

Shares of TMX Group Limited (TSE:X) hit a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. 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 for the quarter, topping the consensus estimate 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 business had revenue of C$353.80 million for the quarter, compared to analysts’ expectations of C$356.24 million.

TMX Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 30th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.73%. The ex-dividend date was Friday, August 16th. TMX Group’s dividend payout ratio is 50.34%.

Analyst Upgrades and Downgrades

X has been the topic of several research reports. TD Securities boosted their price target on shares of TMX Group from C$42.00 to C$43.00 and gave the company a “hold” rating in a research report on Monday. Scotiabank boosted their price target on shares of TMX Group from C$39.00 to C$43.50 in a research report on Wednesday, July 24th. National Bankshares boosted their price target 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. Royal Bank of Canada boosted their price target on shares of TMX Group from C$44.00 to C$46.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Barclays boosted their price target on shares of TMX Group from C$40.00 to C$42.00 in a research report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$43.94.

Insider Activity

In other TMX Group news, Director Elias Anastasopoulos sold 20,850 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of C$42.50, for a total value of C$886,125.00. In other news, Director Elias Anastasopoulos sold 20,850 shares of TMX Group stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of C$42.50, for a total transaction of C$886,125.00. Also, Senior Officer Jayakumar Rajarathinam sold 38,125 shares of TMX Group stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of C$41.44, for a total transaction of C$1,579,766.56. 1.15% of the stock is owned by corporate insiders.

TMX Group Price Performance

The company has a quick ratio of 0.01, a current ratio of 1.00 and a debt-to-equity ratio of 51.71. The firm has a market capitalization of C$12.21 billion, a PE ratio of 29.86, a PEG ratio of 12.65 and a beta of 0.43. The firm’s fifty day simple moving average is C$43.01 and its 200-day simple moving average is C$40.00.

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.