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

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

Several other brokerages also recently commented on X. BMO Capital Markets upgraded TMX Group from a market perform rating to an outperform rating and lifted their target price for the stock from C$36.00 to C$41.00 in a research note on Monday, March 25th. Barclays lifted their price target on TMX Group from C$35.00 to C$38.00 in a report on Monday, April 8th. Canaccord Genuity Group set a C$44.00 target price on shares of TMX Group and gave the company a buy rating in a research report on Friday, April 26th. CIBC increased their price objective on shares of TMX Group from C$38.00 to C$40.00 and gave the stock a neutral rating in a research note on Friday, May 3rd. Finally, TD Securities boosted their price target on TMX Group from C$34.00 to C$35.00 and gave the stock a hold rating in a report on Wednesday, February 7th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of C$39.88.

TMX Group Stock Performance

TMX Group stock opened at C$36.56 on Friday. The company has a quick ratio of 0.01, a current ratio of 1.00 and a debt-to-equity ratio of 26.67. The stock has a market capitalization of C$10.11 billion, a price-to-earnings ratio of 28.56, a P/E/G ratio of 12.65 and a beta of 0.39. The stock has a 50-day simple moving average of C$35.66 and a 200 day simple moving average of C$32.91. TMX Group has a 12-month low of C$28.24 and a 12-month high of C$37.59.

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

TMX Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, May 16th. This is a boost from TMX Group’s previous quarterly dividend of $0.18. TMX Group’s dividend payout ratio (DPR) is presently 55.47%.

Insiders Place Their Bets

In other news, Director Peter Alexander Conroy sold 13,965 shares of TMX Group stock in a transaction dated Monday, May 6th. The stock was sold at an average price of C$36.19, for a total value of C$505,347.27. In other news, Senior Officer Luc Fortin sold 15,140 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of C$35.32, for a total transaction of C$534,744.80. Also, Director Peter Alexander Conroy sold 13,965 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of C$36.19, for a total value of C$505,347.27. 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.