Thomson Reuters (TSE:TRI) Stock Price Up 9.3% – Here’s What Happened

Thomson Reuters Co. (TSE:TRI) (NYSE:TRI)’s share price rose 9.3% during mid-day trading on Tuesday . The stock traded as high as C$124.99 and last traded at C$124.65. Approximately 107,563 shares traded hands during trading, a decline of 87% from the average daily volume of 840,746 shares. The stock had previously closed at C$114.06.

Analyst Upgrades and Downgrades

TRI has been the subject of several research analyst reports. Royal Bank Of Canada raised Thomson Reuters from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, February 10th. BMO Capital Markets decreased their target price on Thomson Reuters from C$275.00 to C$165.00 in a research report on Friday, February 6th. Scotia decreased their target price on Thomson Reuters from C$156.00 to C$138.00 and set a “sector outperform” rating for the company in a research report on Wednesday, May 6th. National Bank Financial decreased their target price on Thomson Reuters from C$190.00 to C$175.00 and set an “outperform” rating for the company in a research report on Sunday, February 8th. Finally, Canadian Imperial Bank of Commerce decreased their price objective on Thomson Reuters from C$183.00 to C$140.00 and set an “outperform” rating for the company in a report on Friday, February 6th. Four investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$163.00.

Thomson Reuters Stock Down 2.5%

The company has a current ratio of 0.60, a quick ratio of 0.52 and a debt-to-equity ratio of 20.72. The firm has a market cap of C$51.18 billion, a PE ratio of 33.95, a price-to-earnings-growth ratio of 3.64 and a beta of 0.11. The stock has a fifty day simple moving average of C$124.76 and a two-hundred day simple moving average of C$152.29.

Thomson Reuters (TSE:TRI) (NYSE:TRI) last posted its earnings results on Tuesday, May 5th. The company reported C$1.71 earnings per share for the quarter. The business had revenue of C$2.90 billion during the quarter. Thomson Reuters had a return on equity of 12.64% and a net margin of 19.83%. As a group, sell-side analysts expect that Thomson Reuters Co. will post 5.6395803 EPS for the current fiscal year.

Insider Buying and Selling at Thomson Reuters

In other Thomson Reuters news, Director Jason Williams sold 2,864 shares of Thomson Reuters stock in a transaction dated Monday, May 11th. The stock was sold at an average price of C$122.18, for a total transaction of C$349,923.52. Also, insider The Woodbridge Company Limited sold 135,000 shares of Thomson Reuters stock in a transaction dated Friday, March 20th. The shares were sold at an average price of C$126.85, for a total value of C$17,124,750.00. Following the transaction, the insider directly owned 312,518,088 shares of the company’s stock, valued at C$39,642,919,462.80. The trade was a 0.04% decrease in their position. Insiders sold 203,497 shares of company stock valued at $25,834,679 in the last quarter. 69.76% of the stock is currently owned by corporate insiders.

About Thomson Reuters

Thomson Reuters is the result of the $17.6 billion megamerger of Canada’s Thomson and the United Kingdom’s Reuters Group in 2008 and the 2018 carve-out of its finance and risk business, Refinitiv, in which it holds a 45% stake. In 2019, the company agreed to exchange its 45% stake in Refinitiv for a 15% stake in LSE. Since the divestiture, the company is more concentrated on selling its flagship legal data and software, WestLaw, and its tax accounting software, OneSource. In addition, the company does hold a significant investment in the publicly traded Tradeweb, which operates a fixed income exchange.