TMX Group Limited Receives a Hold from RBC Capital

By Jason Carr

Wall Street analyst has provided a rating update for the Financial sector company yesterday, while remaining neutral on the stock. Analyst Darko Mihelic from RBC Capital remains neutral on TMX Group Limited (TSX: X) and has a C$76 price target.

According to TipRanks.com, Mihelic is a 4-star analyst with an average return of 5.3% and a 64.2% success rate. Mihelic covers the Financial sector, focusing on stocks such as Manulife Financial Corp, Goldman Sachs Group Inc, and Toronto Dominion Bank.

TMX Group Limited has an analyst consensus of Hold, with a price target consensus of C$73.50.

Based on TMX Group Limited’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of C$206 million and quarterly net profit of C$66.5 million. In comparison, last year the company earned revenue of C$210 million and had a net profit of C$58.3 million.

TMX Group Ltd. operates cash and derivative markets for multiple asset classes including equities, fixed income and energy. The company provides clearing facilities, data products and other services to the international financial community. It operates through four segments: Cash Markets, Derivatives Markets, Energy Markets and CDS.

The company’s shares closed on Friday at C$66.40.