Thomson Reuters (TSE:TRI) Announces Quarterly Earnings Results

Thomson Reuters (TSE:TRI) (NYSE:TRI) released its earnings results on Thursday. The company reported C$1.47 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$2.76 billion during the quarter. Thomson Reuters had a net margin of 32.12% and a return on equity of 20.19%.

Thomson Reuters Trading Down 4.2%

TRI traded down C$5.32 during midday trading on Thursday, hitting C$122.55. The company’s stock had a trading volume of 889,506 shares, compared to its average volume of 672,065. Thomson Reuters has a 52-week low of C$117.97 and a 52-week high of C$299.24. The firm has a 50-day moving average price of C$174.72 and a two-hundred day moving average price of C$210.15. The firm has a market cap of C$54.52 billion, a P/E ratio of 31.50, a PEG ratio of 3.64 and a beta of -0.02. The company has a current ratio of 0.94, a quick ratio of 0.52 and a debt-to-equity ratio of 24.28.

Analyst Ratings Changes

Several research firms have issued reports on TRI. Huber Research upgraded Thomson Reuters to a “strong-buy” rating in a research note on Monday, October 20th. National Bankshares cut their price target on shares of Thomson Reuters from C$300.00 to C$190.00 and set an “outperform” rating on the stock in a report on Monday. The Goldman Sachs Group upgraded Thomson Reuters from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Finally, Canaccord Genuity Group raised Thomson Reuters from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 5th. Six equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Strong Buy” and an average price target of C$243.80.

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.