Canaccord Genuity Group Forecasts Strong Price Appreciation for TMX Group (TSE:X) Stock

TMX Group (TSE:X) had its target price raised by equities research analysts at Canaccord Genuity Group from C$64.00 to C$65.00 in a report issued on Wednesday, BayStreet reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 22.53% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. Raymond James Financial decreased their price target on shares of TMX Group from C$65.25 to C$64.50 and set a “strong-buy” rating for the company in a research report on Friday, July 31st. Barclays lifted their price target on shares of TMX Group from C$58.00 to C$59.00 in a report on Thursday, July 9th. Finally, National Bank Financial raised shares of TMX Group from a “hold” rating to an “outperform” rating and reduced their price objective for the stock from C$65.00 to C$63.00 in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$65.39.

TMX Group Trading Down 0.3%

Shares of TSE:X traded down C$0.17 during midday trading on Wednesday, hitting C$53.05. 117,849 shares of the stock were exchanged, compared to its average volume of 807,443. The stock has a market capitalization of C$14.61 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 12.65 and a beta of -0.17. The company has a debt-to-equity ratio of 41.81, a quick ratio of 0.01 and a current ratio of 2.76. The business’s 50-day moving average price is C$53.30 and its 200 day moving average price is C$51.74. TMX Group has a 12 month low of C$44.10 and a 12 month high of C$57.27.

TMX Group (TSE:X) last issued its quarterly earnings data on Thursday, July 30th. The company reported C$0.62 earnings per share (EPS) for the quarter. TMX Group had a net margin of 32.55% and a return on equity of 3.81%. The business had revenue of C$487.50 million during the quarter. Analysts predict that TMX Group will post 1.77 earnings per share for the current year.

Insiders Place Their Bets

In other TMX Group news, insider Cheryl Graden sold 8,885 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of C$54.41, for a total transaction of C$483,432.85. Following the completion of the transaction, the insider owned 32,845 shares in the company, valued at approximately C$1,787,096.45. This trade represents a 21.29% decrease in their position. Over the last three months, insiders have sold 41,735 shares of company stock worth $2,268,124. Corporate insiders own 1.15% of the company’s stock.

About TMX Group

TMX Group operates global markets, and builds digital communities and analytic solutions that facilitate the funding, growth and success of businesses, traders and investors. TMX Group’s key operations include Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, TSX Trust, TMX Trayport, TMX Datalinx, TMX VettaFi and TMX Newsfile, which provide listing markets, trading markets, clearing facilities, depository services, technology solutions, data products and other services to the global financial community.