Research Analysts Issue Forecasts for TMX Group Limited’s Q2 2024 Earnings (TSE:X)

TMX Group Limited (TSE:X) – Investment analysts at National Bank Financial reduced their Q2 2024 EPS estimates for TMX Group in a research report issued to clients and investors on Sunday, May 5th. National Bank Financial analyst J. Gloyn now forecasts that the company will earn $0.42 per share for the quarter, down from their previous forecast of $0.44. The consensus estimate for TMX Group’s current full-year earnings is $1.62 per share. National Bank Financial also issued estimates for TMX Group’s FY2024 earnings at $1.61 EPS and FY2025 earnings at $1.81 EPS.

TMX Group (TSE:X) last released its quarterly earnings data on Thursday, May 2nd. The company reported C$0.38 EPS for the quarter, beating the consensus estimate of C$0.37 by C$0.01. The firm had revenue of C$345.90 million for the quarter, compared to the consensus estimate of C$338.61 million. TMX Group had a net margin of 12.28% and a return on equity of 9.10%.

A number of other research analysts have also recently issued reports on X. Royal Bank of Canada decreased their target price on TMX Group from C$40.00 to C$39.00 and set a “sector perform” rating on the stock in a research report on Sunday, May 5th. National Bankshares upped their price objective on shares of 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. TD Securities boosted their target price on shares of TMX Group from C$35.00 to C$37.00 and gave the stock a “hold” rating in a research note on Monday. Scotiabank boosted their price objective 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. Finally, CIBC increased their target price on TMX Group from C$38.00 to C$40.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$39.88.

TMX Group Price Performance

Shares of TSE X opened at C$36.25 on Wednesday. The firm has a market cap of C$10.03 billion, a P/E ratio of 28.32, a price-to-earnings-growth ratio of 12.65 and a beta of 0.39. The business’s 50 day moving average is C$35.67 and its 200-day moving average is C$32.93. The company has a current ratio of 1.00, a quick ratio of 0.01 and a debt-to-equity ratio of 26.67. TMX Group has a 1-year low of C$28.32 and a 1-year high of C$37.59.

Insider Activity at TMX Group

In related news, Senior Officer Luc Fortin sold 15,140 shares of the 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. In other TMX Group news, Director Peter Alexander Conroy sold 13,965 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of C$36.19, for a total value of C$505,347.27. Also, Senior Officer Luc Fortin sold 15,140 shares of the business’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. 5.57% of the stock is owned by insiders.

TMX Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 31st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.76 dividend on an annualized basis and a yield of 2.10%. This is a boost from TMX Group’s previous quarterly dividend of $0.18. TMX Group’s payout ratio is currently 55.47%.

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.