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TSX Group
Symbol: X-T
Active: Y
Sector: other services
Last Price: 45.800
Last Price Date: 2008-05-16 21:36:08
Globe 200 day average

Experts that have talked about TSX Group

Comment47.980Brooke ThackrayThe TSX has had a fantastic rally. Up to all-time highs. Chart shows it is bouncing off the top again, which is a positive sign if it can break that level. However, there is a downward trend on the lows, which concerns him. Technically, you are waiting for the breakthrough.2008-05-09
DON'T BUY40.450David BurrowsThinks volumes will be under pressure going forward. There are investors that have been shaken out of the market to some degree. 2008-04-18
BUY38.380Gordon Higgins, CA, MBA, CFAStock price has dropped because of the malaise in the market. They get their fees from the number of companies that list, IPOs and when companies issue new equities as well as a cut on every trade that goes through. Quite attractive at this level.2008-04-17
HOLD38.150Laura WallaceWill be very challenging environment for all exchanges in the next 3 to 6 months. Market volatility is great for traders, but not for exchanges. Coming merger looks very positive and is good news. On a longer-term basis, it's a good industry to be in. Would stay away for the next 6 months.2008-03-12
WEAK BUY44.280Robert FloydCouldn't understand why they were going after the Montreal exchange when the growth was not there. However, when you put the 2 components together, there are synergies. There are political issues in that Montreal wants to keep their distinct entity. Would look very hard at this at this price.2008-02-29
Comment45.580Paul Gardner, CFAMidst of a takeover with Montreal exchange (MXX-T). Because of the political situation, difficult to tell if this will actually work. CEO just left. Some market pressure because they have cut fees in order to stay competitive. Very consistent business. Volatility helps their underlying business with the extra trading revenue. Over 3% yield.2008-02-05
TOP PICK48.500Brendan CaldwellMerging with the Montreal exchange (MXX-T). The best way to participate in any economy is the stock exchange. If you believe that anything good will happen in the market, these shares should perform even better.2008-02-01
DON'T BUY46.750David BurrowsThinks this is a space that will continue to consolidate, but it is highly market sensitive. Expect there will be fewer financings resulting in a loss of listing fees. Very well managed business, but if you are concerned about markets this is not the spot to be right now.2008-01-28
PAST TOP PICK52.510Peter Brieger(A Top Pick Feb 7/07. No change.) Still likes and is glad they are merging with the Montreal exchange and you2007-12-28
PARTIAL SELL53.250John ZechnerThe rumour is that they are going to merge with the Montreal exchange. He has a bit of a problem with the valuation of most of the exchanges right now. If you own, he would take some profit.2007-12-05
HOLD54.350Norman LevineWhen it went public, it had some anti takeover provisions in it so the likelihood of it being acquired is very low. Merger with the Montreal exchange is a high possibility. Has done while because it is a resource and financial services based index with resources dominating. Try to buy at $46-$47.2007-12-03
DON'T BUY47.150Bill CarriganCaller was a senior, he advised no, because it's too volatile. 2007-10-17
PAST TOP PICK44.780Michael Smedley(A Top Pick Sept 21/06. Down 10.5%.) Feels there is a probability of discussion and conclusion of a merger with the Montreal Exchange (MXX-T). Not concerned with the banks moving into this area.2007-09-10
DON'T BUY40.470Paul Gardner, CFAThere is competition now by banks coming together and trying to form their own exchange. A tremendous cash flow business. Trades around 17 X next year's earnings, which is somewhat expensive. 3.76% yield.2007-08-22
HOLD40.440Stephen CarlinThere is an initiative by others to launch a trading platform in competition with them. This is a bona fide threat. The TSX will probably have to cut prices to lure and keep some business. He treats it as a dividend company.2007-08-21
Comment41.460Peter BriegerThere is a rumour that they may merge with the Montreal exchange. This exchange is focused on derivatives. Have cut their trading fees to be competitive.2007-08-14
HOLD43.100Michael DecterHad a huge run and then pulled back. There are some legitimate concerns about competition.2007-07-31
Comment43.750Paul Gardner, CFACompetition is going to lower the cost of transactions, which impacted the stock. Doesn't think this will go anywhere for the next 2 years.2007-07-19
DON'T BUY43.230Norman LevineNot a fan of this stock. They are in a perfect negative storm here. One thing they have going for them is that resource stocks are doing well. They have lost a number of their large cap, high-volume listings. 2 start-up groups will be competing with them.2007-07-18
DON'T BUY43.220Chyanne FickesAn expensive stock. Are definitely going to have very strong competition in the next couple of years.2007-07-05
DON'T BUY42.650Brian Acker, CAHis model price is $40.22, a negative 7% differential. Still too expensive.2007-06-21
DON'T BUY43.250David BaskinFormidable competition is coming by way of a new trading platform by the bank owned brokerages. Expecting that margins and profits will be reduced.2007-06-19
Comment42.770James Cole, BA, CFAIs finally having some deceleration in it's earning momentum. It's been generally well managed. Is a quasi-monopoly, with competition coming on.It will need to lower it's rates, which is good for consumers.2007-06-12
DON'T BUY43.290Laura WallaceBanks have deep pockets and want to get a share of the trading that TSX has. TSX may have to cut there fees by 20%, which doesn't translate into higher profits. Is interest rate sensitive as far as if the market softens that effects their volumes.2007-06-08
SELL44.120Peter BriegerThey have bought in the past, and recently sold. The alternate trading system being put together by the banks took the shine out of it's perceived value. Would get back in once the impact of the alternate trading system is seen.2007-06-04
SPECULATIVE BUY44.000Ross HealeyFair market value currently is $87-$88 so there is a lot of upside. It's currently at 10 times book value, so it's not cheap. This is a speculation. He likes to buy at book or twice book.2007-06-01
DON'T BUY43.410John O'Connell, CFABanks may be going to get involved in alternative markets, which is a competitive threat to them. All the regulatory commissions are driving newer companies to international markets.2007-05-29
DON'T BUY43.580Laura WallaceFacing some challenges with Canada's 6 largest banks intending to directly compete with them. There’re also some other alternative trading platforms out there that will start eating in to their market share. Not cheap.2007-05-23
DON'T BUY44.290Norman LevineThey have 2 problems. All their big companies are being taken over and they make their money off of trading. Secondly, the big banks are talking about setting up a rival exchange.2007-05-18
DON'T BUY43.900Paul Gardner, CFAHas dropped a fair bit since its high. Got hurt recently when there was talk about the banks pushing for their own equity market. Technology will allow them to do that. It won't trump the TSX, but will take business away and will hurt their margins. Great cash flow business.2007-05-17
DON'T BUY42.700Bill CarriganLong-term trend line has been broken. When a group is getting tired, there is a tendency for a lot of new investment products to come out. If you own, lighten up.2007-05-15
BUY41.700Bruce CampbellA consortium of Canadian banks has announced that they are considering putting in a competing product in the next year or two. This would cut into their pricing. This will probably blow over and at this price, it’s not a bad entry point.2007-05-09
Comment42.560Hap (Robert) Sneddon FCSI$50 is at risk of moving below 200 day moving average and the momentum on the MACD is out of the stock. Be cautious.2007-05-08
SELL42.560David BaskinAnnouncement that the banks were considering setting up an alternative system gave them a scare. It would take away a lot of volume. Have held a monopoly position. Consider taking some profits on part of your holdings.2007-05-08
SELL41.770Derek Webb, CFAStock missed earnings, when a stock misses earnings, it will tend to do it multiple times.2007-05-03
DON'T BUY41.770Paul Gardner, CFALast year they lowered their fees because they knew they would be getting competition from the banks. Pretty much fully valued now, so can't see where the growth will happen.2007-05-03
BUY on WEAKNESS48.700Bruce CampbellThinks there's a catalyst coming on this exchange. Feels they will get together with the Montreal exchange over the next couple of years. Buying on a bad day would probably be a good idea.2007-03-06
BUY47.660Peter BriegerLikes the concept of an integration of world exchanges. As the world expands economically, this one cannot go it alone and will have to team up with one or more players. 3% yield.2007-03-02
TOP PICK50.700Peter BriegerOne of the best run exchanges in the world, while the P/E is about half. Recent drop of the stock based on news gives a good buying opportunity.2007-02-19
Comment53.260Chyanne FickesThis will do well as long as the market does well. Expect at some point they will do a merger.2007-02-06
TOP PICK52.430Peter BriegerAs the world becomes a smaller space in terms of financial activity, more and more attention will be paid to this sector. Of the 10 major exchanges this is the cheapest, 2nd only to NASDAQ. As their earnings increase, he is looking for a 30 X earnings ratio, which would get you to about $70.2007-02-02
SELL50.550Michael SprungA lot of people have made a lot of money. Capital markets are very popular right now, but would take some money off the table.2007-01-29
DON'T BUY49.720John ZechnerCan't accept the value of the exchanges at this point. There is great cyclicality in this sector. Relative to financial services, the mid-20 multiple is pretty expensive.2007-01-22
BUY46.800Peter BriegerHave announced they are going to go into a derivatives area in a major way. Expect they will take a shot at the Montreal Stock exchange when it goes public. One of the cheapest exchanges. A good way to play the world market.2007-01-15
BUY45.850Steve MacInnesMonopolistic position with no competition. Throws off tremendous excess cash. Very shareholder friendly. He is bullish on equity markets.2007-01-11
DON'T BUY47.110Norman LevineThe best for this one is behind it for now. Canadian Market is very resource oriented and if they start running again, there might be more interest in this, but a number of big cap stocks that generated a lot of trading have been lost.2006-12-20
DON'T BUY47.470Bill CarriganA bellwether for the market. Had a peak in April, corrected back down to a high low, which is good. Now trying to match that peak. Thinks it’s late, so wouldn’t own.2006-12-06
DON'T BUY45.700Paul Harris, CFAHas been a great investment over a period of time, but won’t be able to grow as fast as some of the other exchanges. Certainly has good opportunity to grow, but will slow down in 2007. Fully valued.2006-11-30
HOLD45.920Norman LevineVery tied into the Canadian resource market. Wait until resources start taking off again.2006-11-14
BUY on WEAKNESS45.600Chyanne FickesLooks rather interesting. Expensive, but looking at what has happened to the other exchanges, with takeovers and mergers going on, it should do pretty well. Wait for a pullback, perhaps to the lower $40’s.2006-11-06
DON'T BUY50.080Laura Wallace3rd term, earnings could be a little disappointing. There could be some weakness in the near term. There is consolidation going on in this sector. A little expensive.2006-10-24
DON'T BUY47.250Larry Berman CFA, CMT, CTAEssentially it has a bit of a distribution developing indicating the market is starting to struggle. He expects weaker markets and, if so, this will test the June/July lows which would be your next buying opportunity.2006-10-11
TOP PICK50.000Michael SmedleyA tremendous cash cow. The best stock exchange in the world to buy.2006-09-21
BUY49.120Rob CallanderA very successful company which is continuing to grow and continues to have opportunities. Extremely well run.2006-09-12
BUY48.400Ian NakamotoAny company that can spin up a lot of cash flow, pay dividends and buy back stock he likes a lot.2006-09-11
HOLD49.460Laura WallaceThis stock will move with the market. Pursuing an acquisition strategy. If your own, continue to hold even if there is some short-term volatility.2006-08-21
DON'T BUY48.700David DriscollDoing OK, but the big problem is that as more and more large companies get taken out, there is more stress on them to bring out more issues, which will probably be from junior resources. If commodities dry up, their earnings will suffer.2006-08-17
PAST TOP PICK48.400Gavin Graham(A Top Pick Sept 6/05. Up 27%.) There is talk of them teaming up with IMX (?) which would be positive. This is a play on increased volumes, increased turnovers and increased plays.2006-08-10
BUY49.440Paul Gardner, CFAThis was a terrific story over the short and long-term when it came out. They are possibly getting into junior trading with other exchanges. The trend is consolidation were they can get terrific efficiencies. A good long-term hold.2006-08-08
DON'T BUY43.350Larry Berman CFA, CMT, CTAThinks the environment for stocks is turning down, and typically, this would not be a good thing to invest in.2006-07-24
Comment43.100Robert FloydHad been a great performer, but flattened out this year because it had been overpriced. At this stage, it has to show some future growth which would include linking up with another exchange, possibly Montréal.2006-07-14
HOLD44.930David BurrowsDid a great job expanding their revenues and their profitability. Some consolidations in exchanges around the world which will probably continue. Trading volumes have been reduced. If basic materials become less attractive there will be less new financings resulting in fewer fees. If you own, use a stop loss.2006-07-12
BUY43.120Peter GibsonThere is a lot of talk about a merger. A great looking company. ROE level is over 50%. The rate of change is very strong. Stock has sold off sharply. His models show it is on the verge of a rebound.2006-06-22
BUY42.290Neil WickhamHas been a fabulous performer. Very positive on the stock market going forward. There is a fair amount of mergers going on around the world and this stock could be involved in some activity in the next little while.2006-06-20
WAIT43.340David BurrowsYou would only buy this if you believed the market was going to trend higher. He is not prepared to say that at this time. Wait for the market to settle.2006-06-15
Comment45.370Peter BriegerCurrent multiple is 14.4 on its earnings. Compared to all the other indexes in the world, this is incredibly cheap. This raises the spectre of M&A activity. If we are in a trend of worldwide consolidation, this could be up for grabs.2006-06-12
BUY45.370Gavin GrahamGushing new cash with all of the new issues, all they takeovers and increased volumes. This is a great play on the commodity story if you believe in that.2006-06-12
DON'T BUY44.800James Cole, BA, CFASufficiently cautious on the outlook for equity markets that he would prefer to see a much lower valuation.2006-05-31
BUY46.490Robert FloydThere has been talk about it turning into a trust. The type of business that would lend itself to a trust. The outlook for the stock is continuing to be favorable.2006-05-16
BUY46.480Gavin GrahamDropped a little bit because they said they were going to cut the fees. 2.9% yield.2006-05-03
SELL46.480David BaskinDoesn't like what he sees with the New York stock exchange stock and with the NASDAQ. Thinks the craze for owning stock exchanges has peaked. Feels the hot money is going to be leaving the sector.2006-05-02
DON'T BUY48.750Brian Acker, CAHis model price is $35.27 which is a -27% differential. Way too expensive for him.2006-04-27
DON'T BUY52.380Michael SprungExchanges seem to be where the action is at right now. This exchange is seeing some of the excitement from other exchanges filtering through and the price is discounting a lot of this.2006-04-21
BUY50.650Chris SmithIf you are positive on equities and that there will be a fair amount of financing going on, this will be good for this stock. A good broad based way to play the equity market.2006-03-21
BUY53.050Gavin Graham1.9% yield. As long as the income trust boom continues and resources continue strong they will do well.2006-01-31
BUY on WEAKNESS47.700Bruce CampbellThe performance of the stock is based on volume of new listings, IPO’s, etc. which they get listing fees for. Expect there will be a market pullback of $1/2 because of its strength in January.2006-01-24
BUY47.000Paul Harris, CFAShould certainly do well over the next year. Commodities and energy should continue to do well.2006-01-09
DON'T BUY46.200Brian Acker, CADoesn't expect there will be a special dividend. They had had a big change in accounting where all their equity was basically sucked out. Have I look at their 3rd quarter financials. Trading way above his model price of $33.56 which is a -26% differential.2005-12-21
BUY45.720David BaskinPretty much a monopoly. Volume has gone up with the government’s announcement on trusts and dividends. Volume will probably continue to rise. Not cheap. Won’t have the explosive rise it had since its listing, but has a lot of downside protection.2005-12-19
BUY44.500Peter GibsonHas done very well because of very strong trading volumes and tremendous profit growth. The ROE has some growth in it still. The ROE level is very high, so there should still be some book value growth.2005-12-09
BUY38.190Pierre BernardThe governments declaration on income trusts is good news for the market in general. This stock has a great growth profile.2005-11-23
BUY36.750Shauna SexsmithThey've changed their accounting policy to basically smooth the income stream from new listings by amortizing them over a 10 year period. Finds this questionable but all the publicly traded stock exchanges in the world do it. Good quality longer term. Will be volatile for a while.2005-11-16
DON'T BUY38.350Brian Acker, CAOverpriced. Has a model price of $31.2005-11-14
HOLD38.390David BurrowsThe publicly traded exchanges in North America have been doing remarkably well. This one has lagged a little bit. When they came out with their earnings recently the October trading volumes are down. There is good strength all around this area and this one is not broken.2005-11-11
PAST TOP PICK37.500Michael Smedley(A Top Pick July 20/05. Down 8.5%.) Is not concerned and has added to his holdings in the past month. Great cash flow and can have a strong dividend.2005-11-10
BUY37.500Rob CallanderLikes exchanges and most of them are doing extremely well. This one is one of the most efficient and best run in the world.2005-11-10
BUY36.150David BaskinThe intersting thing is what happens when the NYSE goes public. Feels when that happens, this one will get its second wind.2005-11-08
BUY36.000Bill MacLachlanThe market was quite concerned with the changes in accounting. This will have no material impact on the cash flow. Not that significant. Any weakness because of this will be a good buying opportunity.2005-11-04
WATCH36.500David BurrowsTHe public exchange companies are all doing very well. They are having an accounting restatement affecting last year's revenues and that concerns him.2005-10-26
DON'T BUY36.450Laura WallaceHas 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.2005-10-19
DON'T BUY39.680Rob CallanderHas 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.2005-10-05
PAST TOP PICK39.760Michael Smedley(A Top Pick July 20/05. No change.) Got knocked back on rumours of becoming a trust. A good price and would buy more.2005-09-27
DON'T BUY39.150Laura WallaceGood base business, but unlikely to grow at the same pace that it has. At current multiples, the stock is expensive.2005-09-26
HOLD39.150Bill MacLachlanIt should become an income trust, but will have to wait for the feds. A tremendous cash generator.2005-09-23
BUY on WEAKNESS41.700Matt BaillieIt might become an income trust. A cash cow. Somewhat of a monopoly and doesn't have much capital expenditures. Moved up to quickly today.2005-09-08
TOP PICK38.000Gavin GrahamA leveraged energy play in a way because of the number of new issues of income trusts and new exploration/production companies. 3.6% dividend.2005-09-06
VAGUE36.920Gordon Higgins, CA, MBA, CFAAlmost 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.2005-08-11
DON'T BUY39.450Peter BriegerMuch more expensive than the other financials so not contemplating buying it.2005-07-21
TOP PICK39.850Michael SmedleyGreat dividend flow and a history of extra dividends.2005-07-20
HOLD39.850Danny TomkaThe 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.2005-07-20


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