TMX Group (TSE:X) Reaches New 52-Week High – Time to Buy?

TMX Group Limited (TSE:X)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as C$56.68 and last traded at C$56.80, with a volume of 286633 shares changing hands. The stock had previously closed at C$54.85.

Wall Street Analyst Weigh In

X has been the subject of a number of analyst reports. Canaccord Genuity Group increased their price target on shares of TMX Group from C$52.00 to C$58.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. TD Securities upped their target price on TMX Group from C$49.00 to C$54.00 and gave the stock a “hold” rating in a report on Wednesday, April 30th. CIBC boosted their price objective on shares of TMX Group from C$55.00 to C$57.00 and gave the stock a “neutral” rating in a research note on Monday, April 28th. BMO Capital Markets increased their price target on shares of TMX Group from C$55.00 to C$57.00 in a research report on Tuesday, April 15th. Finally, Barclays increased their price objective on TMX Group from C$55.00 to C$56.00 in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$55.13.

TMX Group Price Performance

The company has a current ratio of 1.01, a quick ratio of 0.01 and a debt-to-equity ratio of 47.49. The stock has a 50-day moving average price of C$52.80 and a 200 day moving average price of C$48.70. The stock has a market capitalization of C$15.74 billion, a price-to-earnings ratio of 32.68, a PEG ratio of 12.65 and a beta of 0.43.

TMX Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.41%. TMX Group’s dividend payout ratio is currently 42.72%.

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.