Thomson Reuters (TSE:TRI) Issues Quarterly Earnings Results

Thomson Reuters (TSE:TRI) (NYSE:TRI) released its earnings results on Tuesday. The company reported C$1.71 earnings per share (EPS) for the quarter, FiscalAI reports. Thomson Reuters had a net margin of 20.09% and a return on equity of 12.37%. The business had revenue of C$2.90 billion during the quarter.

Thomson Reuters Stock Down 0.8%

Shares of TRI opened at C$129.43 on Wednesday. The stock has a market capitalization of C$57.33 billion, a PE ratio of 38.87, a P/E/G ratio of 3.64 and a beta of 0.11. Thomson Reuters has a 1 year low of C$109.20 and a 1 year high of C$299.24. The company has a debt-to-equity ratio of 17.82, a quick ratio of 0.52 and a current ratio of 0.64. The company’s 50-day simple moving average is C$128.86 and its 200-day simple moving average is C$160.40.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company lowered shares of Thomson Reuters from a “strong-buy” rating to a “hold” rating in a report on Monday, March 23rd. TD Securities lowered their price target on shares of Thomson Reuters from C$285.00 to C$175.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Royal Bank Of Canada raised shares of Thomson Reuters from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, February 10th. BMO Capital Markets lowered their price target on shares of Thomson Reuters from C$275.00 to C$165.00 in a research report on Friday, February 6th. Finally, Canadian Imperial Bank of Commerce lowered their price target on shares of Thomson Reuters from C$183.00 to C$140.00 and set an “outperform” rating on the stock in a research report on Friday, February 6th. Four equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Thomson Reuters presently has a consensus rating of “Buy” and an average target price of C$163.75.

Insider Activity

In other news, insider The Woodbridge Company Limited sold 65,000 shares of the stock in a transaction dated Friday, March 20th. The shares were sold at an average price of C$127.34, for a total transaction of C$8,277,100.00. Following the sale, the insider owned 312,653,088 shares of the company’s stock, valued at approximately C$39,813,244,225.92. This represents a 0.02% decrease in their ownership of the stock. Corporate insiders own 69.76% of the company’s stock.

Thomson Reuters Company Profile

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.