Thomson Reuters (TSE:TRI) Hits New 52-Week Low – Here’s Why

Thomson Reuters Co. (TSE:TRI) (NYSE:TRI) shares hit a new 52-week low on Thursday . The stock traded as low as C$108.70 and last traded at C$109.32, with a volume of 324653 shares. The stock had previously closed at C$112.62.

Wall Street Analysts Forecast Growth

TRI has been the subject of several recent research reports. National Bank Financial reduced their price target 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. Canadian Imperial Bank of Commerce cut their price target on shares of Thomson Reuters from C$183.00 to C$140.00 and set an “outperform” rating for the company in a research note on Friday, February 6th. BMO Capital Markets cut their target price on shares of Thomson Reuters from C$275.00 to C$165.00 in a research note on Friday, February 6th. Wells Fargo & Company downgraded Thomson Reuters from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 23rd. Finally, TD Securities dropped their price objective on Thomson Reuters from C$285.00 to C$175.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Four 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. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$163.00.

Thomson Reuters Stock Performance

The stock has a market cap of C$47.27 billion, a P/E ratio of 31.36, a price-to-earnings-growth ratio of 3.64 and a beta of 0.11. 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 stock has a 50 day simple moving average of C$128.07 and a 200 day simple moving average of C$156.06.

Thomson Reuters (TSE:TRI) (NYSE:TRI) last released its earnings results on Tuesday, May 5th. The company reported C$1.71 earnings per share (EPS) for the quarter. The company had revenue of C$2.90 billion for the quarter. Thomson Reuters had a return on equity of 12.64% and a net margin of 19.92%. On average, equities analysts expect that Thomson Reuters Co. will post 5.6395803 earnings per share for the current year.

Insider Transactions at Thomson Reuters

In other Thomson Reuters news, Director Jason Williams sold 2,864 shares of the company’s stock in a transaction on 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 65,000 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of C$127.34, for a total value of C$8,277,100.00. Following the sale, the insider owned 312,653,088 shares in the company, valued at approximately C$39,813,244,225.92. This trade represents a 0.02% decrease in their ownership of the stock. In the last 90 days, insiders sold 203,497 shares of company stock valued at $25,834,679. Company insiders own 69.76% of the company’s stock.

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.