Thomson Reuters (TSE:TRI) Shares Up 5.1% – Here’s Why

Shares of Thomson Reuters Co. (TSE:TRI) (NYSE:TRI) traded up 5.1% on Thursday . The stock traded as high as C$140.87 and last traded at C$140.72. 224,597 shares were traded during mid-day trading, a decline of 72% from the average session volume of 814,200 shares. The stock had previously closed at C$133.87.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. TD boosted their target price 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. Scotia lowered their price objective on shares of Thomson Reuters from C$156.00 to C$138.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, May 6th. Argus upgraded shares of Thomson Reuters to a “hold” rating in a research report on Wednesday, April 22nd. Wells Fargo & Company downgraded shares of Thomson Reuters from a “strong-buy” rating to a “hold” rating in a report on Monday, March 23rd. Finally, National Bank Financial lowered their target price on Thomson Reuters from C$175.00 to C$171.00 and set an “outperform” rating on the stock in a report on Wednesday. Four investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$162.33.

Thomson Reuters Stock Performance

The stock’s 50-day moving average is C$118.90 and its 200-day moving average is C$132.57. The company has a current ratio of 0.60, a quick ratio of 0.52 and a debt-to-equity ratio of 22.71. The stock has a market cap of C$61.37 billion, a price-to-earnings ratio of 40.71, a P/E/G ratio of 3.64 and a beta of 0.06.

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 for the quarter. Thomson Reuters had a net margin of 19.93% and a return on equity of 12.70%. On average, analysts expect that Thomson Reuters Co. will post 5.6395803 EPS for the current year.

Insiders Place Their Bets

In other news, Director Sean Cannizzaro sold 320 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 1,075 shares in the company, valued at approximately C$140,502.50. This represents a 22.94% decrease in their position. Also, Director Jason Williams sold 2,864 shares of the 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. Insiders sold a total of 3,497 shares of company stock worth $432,829 in the last quarter. 69.76% of the stock is currently owned by company insiders.

About Thomson Reuters

Thomson Reuters (TSX/Nasdaq: TRI) powers business-critical professions with trusted AI technology built for high-stakes work. The company serves professionals across legal, tax, audit, accounting, compliance, government, and media with products that combine highly specialized software, authoritative content, and deep domain expertise. Reuters, part of Thomson Reuters, is a world-leading provider of trusted journalism and news.