TMX Group (TSE:X) Sets New 52-Week High – Should You Buy?

Shares of TMX Group Limited (TSE:X) reached a new 52-week high during trading 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.

Wall Street Analysts Forecast Growth

X has been the topic of a number of recent analyst reports. Barclays increased their price target on TMX Group from C$45.00 to C$47.00 in a research report on Monday, December 9th. BMO Capital Markets increased their target price on TMX Group from C$50.00 to C$62.00 in a research report on Thursday, December 5th. TD Securities upped their price objective on shares of TMX Group from C$44.00 to C$45.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. CIBC boosted their target price on shares of TMX Group from C$43.00 to C$46.00 in a research note on Thursday, October 31st. Finally, National Bankshares increased their price objective on TMX Group from C$43.00 to C$44.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$47.19.

TMX Group Stock Performance

The stock’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 PE ratio of 29.03, a P/E/G ratio of 12.65 and a beta of 0.43. The company has a debt-to-equity ratio of 47.49, a quick ratio of 0.01 and a current ratio of 1.01.

TMX Group Increases Dividend

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

Insiders Place Their Bets

In related news, Senior Officer Jayakumar Rajarathinam sold 40,000 shares of the firm’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. 1.15% of the stock is currently owned by corporate insiders.

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.