TMX Group (TSE:X) Stock Price Crosses Below 200-Day Moving Average – Time to Sell?

TMX Group Limited (TSE:X) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$50.47 and traded as low as C$47.52. TMX Group shares last traded at C$48.44, with a volume of 1,260,173 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently commented on X. Royal Bank Of Canada raised their target price on shares of TMX Group from C$69.00 to C$71.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Canaccord Genuity Group raised their price objective on TMX Group from C$63.00 to C$64.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Raymond James Financial lifted their price objective on TMX Group from C$61.50 to C$65.25 and gave the company a “strong-buy” rating in a report on Friday, June 12th. National Bank Financial upped their target price on TMX Group from C$63.00 to C$64.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 5th. Finally, BMO Capital Markets raised their price target on TMX Group from C$62.00 to C$65.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, TMX Group presently has a consensus rating of “Moderate Buy” and a consensus target price of C$65.47.

TMX Group Trading Down 2.7%

The firm has a market capitalization of C$12.91 billion, a price-to-earnings ratio of 24.48, a P/E/G ratio of 12.65 and a beta of -0.20. The company has a debt-to-equity ratio of 44.08, a current ratio of 2.35 and a quick ratio of 0.01. The firm’s 50-day simple moving average is C$52.27 and its 200 day simple moving average is C$50.42.

TMX Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, June 5th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. TMX Group’s payout ratio is 46.07%.

Insider Buying and Selling at TMX Group

In other TMX Group news, insider John Mckenzie acquired 35,860 shares of TMX Group stock in a transaction that occurred on Friday, May 8th. The shares were acquired at an average cost of C$55.84 per share, with a total value of C$2,002,422.40. Following the completion of the purchase, the insider directly owned 136,634 shares of the company’s stock, valued at C$7,629,642.56. This represents a 35.58% increase in their position. 1.15% of the stock is currently owned by corporate insiders.

TMX Group Company Profile

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.