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

TMX Group (TSE:X) had its price objective lowered by stock analysts at Royal Bank of Canada from C$40.00 to C$39.00 in a research report issued on Sunday, BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 4.81% from the stock’s previous close.

A number of other research firms also recently issued reports on X. Barclays boosted their price target on TMX Group from C$35.00 to C$38.00 in a research report on Monday, April 8th. National Bankshares upped their target price on TMX Group from C$37.00 to C$40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 30th. Scotiabank upped their target price on TMX Group from C$38.00 to C$39.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 30th. Canaccord Genuity Group set a C$44.00 target price on TMX Group and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, CIBC upped their target price on TMX Group from C$38.00 to C$40.00 and gave the stock a “neutral” rating in a research report on Friday. 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, TMX Group currently has an average rating of “Hold” and a consensus price target of C$39.50.

TMX Group Price Performance

X stock opened at C$37.21 on Friday. The stock has a 50-day moving average price of C$35.51 and a two-hundred day moving average price of C$32.76. TMX Group has a 12-month low of C$27.74 and a 12-month high of C$37.59. The company has a current ratio of 1.00, a quick ratio of 0.01 and a debt-to-equity ratio of 26.67. The company has a market cap of C$10.29 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 12.65 and a beta of 0.39.

TMX Group (TSE:X) last posted its quarterly earnings results on Monday, February 5th. The company reported C$0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of C$0.37. TMX Group had a return on equity of 9.10% and a net margin of 12.28%. The firm had revenue of C$301.50 million during the quarter, compared to the consensus estimate of C$300.05 million. As a group, research analysts predict that TMX Group will post 1.6194927 EPS for the current year.

Insider Buying and Selling

In related news, Senior Officer Luc Fortin sold 15,140 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of C$35.32, for a total value of C$534,744.80. In other news, Senior Officer Jayakumar Rajarathinam sold 95,750 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of C$33.78, for a total transaction of C$3,234,636.08. Also, Senior Officer Luc Fortin sold 15,140 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of C$35.32, for a total value of C$534,744.80. Insiders own 5.57% of the company’s stock.

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.