Thomson Reuters (TSE:TRI) Posts Quarterly Earnings Results

Thomson Reuters (TSE:TRI) (NYSE:TRI) posted its quarterly earnings results on Tuesday. The company reported C$1.71 EPS for the quarter, FiscalAI reports. The company had revenue of C$2.90 billion for the quarter. Thomson Reuters had a return on equity of 12.64% and a net margin of 19.92%.

Thomson Reuters Stock Performance

TSE:TRI traded up C$1.22 during midday trading on Thursday, hitting C$127.08. The company’s stock had a trading volume of 92,348 shares, compared to its average volume of 843,940. Thomson Reuters has a fifty-two week low of C$109.20 and a fifty-two week high of C$299.24. The company has a debt-to-equity ratio of 20.72, a current ratio of 0.60 and a quick ratio of 0.52. The firm has a market cap of C$55.42 billion, a P/E ratio of 37.57, a P/E/G ratio of 3.64 and a beta of 0.11. The firm’s 50 day moving average is C$129.16 and its 200-day moving average is C$159.74.

Wall Street Analyst Weigh In

Several brokerages have commented on TRI. Royal Bank Of Canada upgraded shares of Thomson Reuters from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, February 10th. Canadian Imperial Bank of Commerce dropped their price target on shares of Thomson Reuters from C$183.00 to C$140.00 and set an “outperform” rating for the company in a research note on Friday, February 6th. Wells Fargo & Company lowered shares of Thomson Reuters from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 23rd. TD lifted their price target on shares of Thomson Reuters from C$175.00 to C$185.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, BMO Capital Markets lowered their price objective on shares of Thomson Reuters from C$275.00 to C$165.00 in a research note on Friday, February 6th. Four analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$163.00.

Insiders Place Their Bets

In other Thomson Reuters news, insider The Woodbridge Company Limited sold 135,000 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of C$126.85, for a total value of C$17,124,750.00. Following the sale, the insider owned 312,518,088 shares in the company, valued at approximately C$39,642,919,462.80. This represents a 0.04% decrease in their position. Corporate insiders own 69.76% of the company’s stock.

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.