TSE:X

TMX Group (X.TO)

45.50
+0.09 (0.20%)
as of Jun 26, 2026, 8:00:00 pm Market Open.
81 watching
0
Investor Insights
star iconJun 26, 2026, 12:00 am

This summary was created by AI, based on 17 opinions in the last 12 months.

TMX Group, the operator of the Toronto Stock Exchange, has garnered a mixed but generally positive outlook from various experts. Most analysts recognize the company's strong positioning within the financial markets, particularly in options trading and analytics, despite recent pullbacks attributed to broader market fears, including concerns about AI disruption. The stock is characterized as a reliable performer with a history of dividend growth and resilience during market volatility. The industry landscape remains favorable, with expectations for continued double-digit growth driven by increased trading volumes and strong analytics offerings. While technical indicators show the stock trading below its 200-day moving average, many view this as a tactical buying opportunity rather than a long-term negative signal.

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Consensus
Buy
valuation icon
Valuation
Fair Value
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WATCH
THe public exchange companies are all doing very well. They are having an accounting restatement affecting last year's revenues and that concerns him.
DON'T BUY
Has come off recently because of the possible changes that would affect trusts. It's not only their limitation of becoming a trust, but listing fees will be reduced.
DON'T BUY
Has done a spectacular job of turning its business around, improving its operating profit margins 50%. Very innovative. Getting into a lot of different businesses. Share price fully reflects its value. If you own, consider taking some profit.
PAST TOP PICK
(A Top Pick July 20/05. No change.) Got knocked back on rumours of becoming a trust. A good price and would buy more.
DON'T BUY
Good base business, but unlikely to grow at the same pace that it has. At current multiples, the stock is expensive.
HOLD
It should become an income trust, but will have to wait for the feds. A tremendous cash generator.
BUY ON WEAKNESS
It might become an income trust. A cash cow. Somewhat of a monopoly and doesn't have much capital expenditures. Moved up to quickly today.
TOP PICK
A leveraged energy play in a way because of the number of new issues of income trusts and new exploration/production companies. 3.6% dividend.
TRADE
Almost a quasi monopoly. If you want to trade stocks in Canada, that's where you have to be. Every new company has to pay a listing fee. There are ongoing fees to stay listed. Great cash flows. At these levels, not sure how much more there is on the upside. If equity markets pull back, this stock will definitely pull back.
DON'T BUY
Much more expensive than the other financials so not contemplating buying it.
TOP PICK
Great dividend flow and a history of extra dividends.
HOLD
The closest thing you are going to come to a toll booth. Anyone wanting to come through public listings on the Canadian market has to go through here. A bit volatile. As the markets go, the earnings go. Return on capital is extremely high as it requires virtually no capital in. The primary driver lately has been all the trusts. Trades at a hefty valuation.
DON'T BUY
Have done well. They are a monopoly with only the Montreal exchange left to conquer. Has a problem with their growth multiple of about 20 X next year's earnings. There really isn't any more room for it to grow.
BUY
Volumes are up quite strongly.
BUY
For a large portfolio where you want to have diversification across several different financial service types of business, this is a good one. Should continue to do well as long as economic conditions remain strong.
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