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TMX Group (X-T)

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TMX Group
X-T

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Signal	Opinion	Expert
BUY	TMX Group(X-T) March 26, 2019 A great stock that he's still buying. The TSX was valued a lot less than other exchanges, but they have done more businesses. It's still a good entry point. Buy and hold it for a few years. other services 0 0 0 0 0 0 comments	A great stock that he's still buying. The TSX was valued a lot less than other exchanges, but they have done more businesses. It's still a good entry point. Buy and hold it for a few years. other services 0 0 0 0 0 0 comments David Baskin President, Baskin Wealth Manage... Price $84.550 Owned Yes

PAST TOP PICK	TMX Group(X-T) January 22, 2019 (A Top Pick Jan 04/18, Up 9%) They've done a good job with the TMX through market reforms and improving operations. There's room to grow. other services 0 0 0 0 0 0 comments	(A Top Pick Jan 04/18, Up 9%) They've done a good job with the TMX through market reforms and improving operations. There's room to grow. other services 0 0 0 0 0 0 comments David Baskin President, Baskin Wealth Manage... Price $75.580 Owned Yes
WATCH	TMX Group(X-T) November 1, 2018 We are likely to touch the support level over the next couple of weeks. It is one of the best stocks in the financials. other services 0 0 0 0 0 0 comments	We are likely to touch the support level over the next couple of weeks. It is one of the best stocks in the financials. other services 0 0 0 0 0 0 comments Javed Mirza Technical , Canaccord Genuity ... Price $83.740 Owned Unknown
TOP PICK	TMX Group(X-T) October 31, 2018 They're doing amazing by transforming their business by doing data analytics, which is more recurring revenues. Also, 30% of revenues are outside Canada. They're trading at a deep discount to other stock exchange providers. 2.8% dividend. Great management. This stock is undervalued. (Analysts’ price target is $96.20) other services 0 0 0 0 0 0 comments	They're doing amazing by transforming their business by doing data analytics, which is more recurring revenues. Also, 30% of revenues are outside Canada. They're trading at a deep discount to other stock exchange providers. 2.8% dividend. Great management. This stock is undervalued. (Analysts’ price target is $96.20) other services 0 0 0 0 0 0 comments Barry Schwartz CIO & Port, Baskin Wealth Manage... Price $82.790 Owned Yes
BUY	TMX Group(X-T) September 20, 2018 Owns the TSX. But more importantly. They are branching off to the subscription services for data. Very undervalued. New management has done a wonderful job. other services 0 0 0 0 0 0 comments	Owns the TSX. But more importantly. They are branching off to the subscription services for data. Very undervalued. New management has done a wonderful job. other services 0 0 0 0 0 0 comments Barry Schwartz CIO & Port, Baskin Wealth Manage... Price $85.460 Owned Yes
BUY	TMX Group(X-T) February 6, 2018 Would you buy this for the long term? For sure. Core holding for his clients. The Toronto Stock Exchange. Involved in derivatives and selling data. It is exciting that they bought in Europe a company called Trailed Corp which is called the Bloomberg of the commodities trading. It gives them diversification outside of Canada which it is very good for them. Valuation is very reasonable. other services 0 0 0 0 0 0 comments	Would you buy this for the long term? For sure. Core holding for his clients. The Toronto Stock Exchange. Involved in derivatives and selling data. It is exciting that they bought in Europe a company called Trailed Corp which is called the Bloomberg of the commodities trading. It gives them diversification outside of Canada which it is very good for them. Valuation is very reasonable. other services 0 0 0 0 0 0 comments Barry Schwartz CIO & Port, Baskin Wealth Manage... Price $74.970 Owned Yes
PAST TOP PICK	TMX Group(X-T) January 9, 2018 (A Top Pick March 1/17. Up 4%.) This one is completely baffling. It should be a $100 stock. They should be making so much hay with the marijuana law, the trading and the amount of new issues and the secondary offerings. Trading at 13X earnings. It has a monopoly on trading in Canada on new listings. Just made an acquisition of a commodities platform in Europe. 50% of their business is going to be recurring revenues. other services 0 0 0 0 0 0 comments	(A Top Pick March 1/17. Up 4%.) This one is completely baffling. It should be a $100 stock. They should be making so much hay with the marijuana law, the trading and the amount of new issues and the secondary offerings. Trading at 13X earnings. It has a monopoly on trading in Canada on new listings. Just made an acquisition of a commodities platform in Europe. 50% of their business is going to be recurring revenues. other services 0 0 0 0 0 0 comments Barry Schwartz CIO & Port, Baskin Wealth Manage... Price $71.520 Owned Yes
TOP PICK	TMX Group(X-T) January 4, 2018 Undervalued compared to most stock exchanges in the world. Lots of new listings going on. There is very good value there and he is surprised it has not gone up faster. (Analysts’ target: $80.50). other services 0 0 0 0 0 0 comments	Undervalued compared to most stock exchanges in the world. Lots of new listings going on. There is very good value there and he is surprised it has not gone up faster. (Analysts’ target: $80.50). other services 0 0 0 0 0 0 comments David Baskin President, Baskin Wealth Manage... Price $71.510 Owned Yes
PAST TOP PICK	TMX Group(X-T) August 29, 2017 (A Top Pick Sept 1/16. Up 19.59%.) 2015 was a dreadful year, but was one of the best performers in 2016. This year it has cooled off a little, and not sure why because the earnings growth has been pretty significant. A very profitable business. They’ve done a great job of deleveraging, getting rid of businesses that are not profitable. Expects there will be more dividend increases and a smart allocation of capital. Still a Buy. Dividend yield of 2.99%. other services 0 0 0 0 0 0 comments	(A Top Pick Sept 1/16. Up 19.59%.) 2015 was a dreadful year, but was one of the best performers in 2016. This year it has cooled off a little, and not sure why because the earnings growth has been pretty significant. A very profitable business. They’ve done a great job of deleveraging, getting rid of businesses that are not profitable. Expects there will be more dividend increases and a smart allocation of capital. Still a Buy. Dividend yield of 2.99%. other services 0 0 0 0 0 0 comments Barry Schwartz CIO & Port, Baskin Wealth Manage... Price $66.320 Owned Yes
COMMENT	TMX Group(X-T) July 18, 2017 This owns the TSX and a bunch of data, so they make money on trading. Expects it will have a pretty good Q2 because there have been more IPOs. This is on track to earn around $4.75 this year, maybe $5 in 2018. Valuation is at 13-14 times earnings, which is very inexpensive for a company with very consistent earnings. Management has done an excellent job righting the ship. They’ve turfed a number of underperforming divisions and even raised the dividend twice in the past year. Generates an enormous amount of free cash flow. He sees upside to at least $80. other services 0 0 0 0 0 0 comments	This owns the TSX and a bunch of data, so they make money on trading. Expects it will have a pretty good Q2 because there have been more IPOs. This is on track to earn around $4.75 this year, maybe $5 in 2018. Valuation is at 13-14 times earnings, which is very inexpensive for a company with very consistent earnings. Management has done an excellent job righting the ship. They’ve turfed a number of underperforming divisions and even raised the dividend twice in the past year. Generates an enormous amount of free cash flow. He sees upside to at least $80. other services 0 0 0 0 0 0 comments Barry Schwartz CIO & Port, Baskin Wealth Manage... Price $67.680 Owned Yes
TOP PICK	TMX Group(X-T) March 1, 2017 This was facing concerns about NASDAQ coming into Canada and taking some listings, but to him, this is much better than Amazon in some ways, because they have all the shoppers and they have all the products. It is going to be very hard for someone to come in and take the listings. They finally raised the dividend last year. The balance sheet is now perfect. They’ve been selling off divisions that were not profitable. The new CEO has done an excellent job. Valuation is quite reasonable when compared to other publicly traded exchanges. He thinks this is an $80 stock and could go a lot higher if we continue to see good markets. Dividend yield of 2.56%. (Analysts’ price target is $76.) other services 0 0 0 0 0 0 comments	This was facing concerns about NASDAQ coming into Canada and taking some listings, but to him, this is much better than Amazon in some ways, because they have all the shoppers and they have all the products. It is going to be very hard for someone to come in and take the listings. They finally raised the dividend last year. The balance sheet is now perfect. They’ve been selling off divisions that were not profitable. The new CEO has done an excellent job. Valuation is quite reasonable when compared to other publicly traded exchanges. He thinks this is an $80 stock and could go a lot higher if we continue to see good markets. Dividend yield of 2.56%. (Analysts’ price target is $76.) other services 0 0 0 0 0 0 comments Barry Schwartz CIO & Port, Baskin Wealth Manage... Price $70.250 Owned Yes
DON'T BUY	TMX Group(X-T) February 13, 2017 How does this make money? They make money a variety of ways. Listing fees, trading fees and fees for information. You are seeing more of a global consolidation in this industry. At these levels, he feels valuations are somewhat excessive. This has had a big run in the past 2 years. other services 0 0 0 0 0 0 comments	How does this make money? They make money a variety of ways. Listing fees, trading fees and fees for information. You are seeing more of a global consolidation in this industry. At these levels, he feels valuations are somewhat excessive. This has had a big run in the past 2 years. other services 0 0 0 0 0 0 comments John Zechner Chairman, J. Zechner & Assoc... Price $71.270 Owned Unknown
HOLD	TMX Group(X-T) January 25, 2017 This has been performing super strong with the markets being on a roll. Thinks this continues to do fairly well. It ranks really well in his process both technically and fundamentally. If he didn’t own it, he would certainly look at it. other services 0 0 0 0 0 0 comments	This has been performing super strong with the markets being on a roll. Thinks this continues to do fairly well. It ranks really well in his process both technically and fundamentally. If he didn’t own it, he would certainly look at it. other services 0 0 0 0 0 0 comments Bruce Campbell President , Stone Castle Investm... Price $69.170 Owned No
COMMENT	TMX Group(X-T) November 3, 2016 Believes this reports tonight. It has been a top performer this year and is up about 70%. He owned it last year when it was down 50%. Very volatile. It is commodity sensitive. A wonderful, capital, compounder that generates a lot of free cash flow. It’s balance sheet is being masked to fight off the London Stock exchange acquisition a few years ago. Generating infinite return on invested capital. Tremendous management. Earnings are going to be volatile from quarter to quarter, but if you look over a multiyear period, they are doing a good job. He expects to see a dividend increase very shortly. Trading at a material discount to other global exchanges. Trading at 14X forward earnings. 2.6% dividend yield. His FV is $75 a share. other services 0 0 0 0 0 0 comments	Believes this reports tonight. It has been a top performer this year and is up about 70%. He owned it last year when it was down 50%. Very volatile. It is commodity sensitive. A wonderful, capital, compounder that generates a lot of free cash flow. It’s balance sheet is being masked to fight off the London Stock exchange acquisition a few years ago. Generating infinite return on invested capital. Tremendous management. Earnings are going to be volatile from quarter to quarter, but if you look over a multiyear period, they are doing a good job. He expects to see a dividend increase very shortly. Trading at a material discount to other global exchanges. Trading at 14X forward earnings. 2.6% dividend yield. His FV is $75 a share. other services 0 0 0 0 0 0 comments Barry Schwartz CIO & Port, Baskin Wealth Manage... Price $61.820 Owned Unknown
TOP PICK	TMX Group(X-T) September 1, 2016 Some big investors recently cashed out, which gave him an opportunity to buy more. It is a network business, an exchange. A monopoly generating about 75% revenue from trading, and 100% of revenue from listings. It has a fixed cost operation, so as trading increases, there is more listings. As the market goes higher, all of that falls to the bottom line. That happened in the last quarter, and more of that will continue as the market improves. Thinks there is opportunity for it to trade at a 16 or 17 times PE. Dividend yield of 2.81%. other services 0 0 0 0 0 0 comments	Some big investors recently cashed out, which gave him an opportunity to buy more. It is a network business, an exchange. A monopoly generating about 75% revenue from trading, and 100% of revenue from listings. It has a fixed cost operation, so as trading increases, there is more listings. As the market goes higher, all of that falls to the bottom line. That happened in the last quarter, and more of that will continue as the market improves. Thinks there is opportunity for it to trade at a 16 or 17 times PE. Dividend yield of 2.81%. other services 0 0 0 0 0 0 comments Barry Schwartz CIO & Port, Baskin Wealth Manage... Price $57.040 Owned Yes

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