Scotia Lowers Thomson Reuters (TSE:TRI) Price Target to C$138.00

Thomson Reuters (TSE:TRI) (NYSE:TRI) had its price target decreased by research analysts at Scotia from C$156.00 to C$138.00 in a report issued on Wednesday,BayStreet.CA reports. The firm currently has a “sector outperform” rating on the stock. Scotia’s target price would suggest a potential upside of 9.58% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. BMO Capital Markets decreased their price target on shares of Thomson Reuters from C$275.00 to C$165.00 in a report on Friday, February 6th. Argus upgraded shares of Thomson Reuters to a “hold” rating in a report on Wednesday, April 22nd. National Bank Financial decreased their price target on shares of 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. Wells Fargo & Company lowered shares of Thomson Reuters from a “strong-buy” rating to a “hold” rating in a report on Monday, March 23rd. Finally, Royal Bank Of Canada upgraded shares of Thomson Reuters from a “hold” rating to a “moderate buy” rating in a report on Tuesday, February 10th. Four research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Thomson Reuters currently has an average rating of “Buy” and a consensus price target of C$163.00.

Thomson Reuters Trading Down 2.7%

TRI stock traded down C$3.49 during midday trading on Wednesday, hitting C$125.94. The stock had a trading volume of 652,927 shares, compared to its average volume of 847,723. The firm has a market cap of C$55.79 billion, a PE ratio of 37.82, a price-to-earnings-growth ratio of 3.64 and a beta of 0.11. The company has a debt-to-equity ratio of 17.82, a current ratio of 0.64 and a quick ratio of 0.52. Thomson Reuters has a 12-month low of C$109.20 and a 12-month high of C$299.24. The company’s 50-day moving average price is C$128.86 and its 200 day moving average price is C$160.40.

Thomson Reuters (TSE:TRI) (NYSE:TRI) last announced its quarterly earnings results on Tuesday, May 5th. The company reported C$1.71 earnings per share for the quarter. The company had revenue of C$2.90 billion for the quarter. Thomson Reuters had a net margin of 20.09% and a return on equity of 12.37%. On average, equities research analysts predict that Thomson Reuters will post 5.6395803 earnings per share for the current fiscal year.

Insider Buying and Selling at Thomson Reuters

In related news, insider The Woodbridge Company Limited sold 135,000 shares of Thomson Reuters stock in a transaction on Friday, March 20th. The shares were sold at an average price of C$126.85, for a total transaction of C$17,124,750.00. Following the transaction, the insider owned 312,518,088 shares in the company, valued at approximately C$39,642,919,462.80. The trade was a 0.04% decrease in their position. 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.