Thomson Reuters (TSE:TRI) Trading Up 9.3% – Time to Buy?

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TRI shares. Argus upgraded shares of Thomson Reuters to a “hold” rating in a research report on Wednesday, April 22nd. Scotia dropped their price objective on Thomson Reuters from C$156.00 to C$138.00 and set a “sector outperform” rating for the company in a report on Wednesday, May 6th. Canadian Imperial Bank of Commerce reduced their target price on Thomson Reuters from C$183.00 to C$140.00 and set an “outperform” rating on the stock in a report on Friday, February 6th. TD raised their price target on Thomson Reuters from C$175.00 to C$185.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, National Bank Financial dropped 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 note on Sunday, February 8th. Four investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$163.00.

Thomson Reuters Stock Up 9.3%

The company has a quick ratio of 0.52, a current ratio of 0.60 and a debt-to-equity ratio of 20.72. The firm has a 50 day moving average of C$126.07 and a two-hundred day moving average of C$153.64. The firm has a market capitalization of C$54.41 billion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 3.64 and a beta of 0.11.

Thomson Reuters (TSE:TRI) (NYSE:TRI) last issued its earnings results on Tuesday, May 5th. The company reported C$1.71 EPS for the quarter. The firm 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 anticipate that Thomson Reuters Co. will post 5.6395803 EPS for the current fiscal year.

Insider Activity at Thomson Reuters

In other Thomson Reuters news, Director Jason Williams sold 2,864 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of C$122.18, for a total transaction of C$349,923.52. Also, Director Sean Cannizzaro sold 320 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of C$130.70, for a total transaction of C$41,824.00. Following the transaction, the director owned 1,075 shares of the company’s stock, valued at C$140,502.50. This trade represents a 22.94% decrease in their ownership of the stock. Insiders sold a total of 203,497 shares of company stock valued at $25,834,679 in the last quarter. 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.