Thomson Reuters (TSE:TRI) Stock Price Up 11.5% – What’s Next?

Thomson Reuters Co. (TSE:TRI) (NYSE:TRI)’s share price was up 11.5% during trading on Tuesday . The company traded as high as C$124.39 and last traded at C$123.58. Approximately 645,667 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 823,801 shares. The stock had previously closed at C$110.84.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Canadian Imperial Bank of Commerce dropped their target price on shares of 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. Canaccord Genuity Group upgraded Thomson Reuters from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 5th. BMO Capital Markets lowered their target price on Thomson Reuters from C$275.00 to C$165.00 in a report on Friday, February 6th. National Bank Financial cut their price target on Thomson Reuters from C$190.00 to C$175.00 and set an “outperform” rating on the stock in a report on Sunday, February 8th. Finally, TD Securities reduced their price objective on shares of Thomson Reuters from C$285.00 to C$175.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Five research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$181.83.

Thomson Reuters Trading Up 0.4%

The company has a quick ratio of 0.52, a current ratio of 0.94 and a debt-to-equity ratio of 24.28. The company has a market capitalization of C$60.75 billion, a P/E ratio of 40.99, a P/E/G ratio of 3.64 and a beta of -0.02. The firm’s 50-day moving average price is C$155.45 and its 200 day moving average price is C$194.22.

Thomson Reuters (TSE:TRI) (NYSE:TRI) last released its quarterly earnings results on Thursday, February 5th. The company reported C$1.47 earnings per share (EPS) for the quarter. The business had revenue of C$2.76 billion during the quarter. Thomson Reuters had a return on equity of 20.19% and a net margin of 32.12%. As a group, equities research analysts predict that Thomson Reuters Co. will post 5.6395803 earnings per share for the current year.

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.