Thomson Reuters (TSE:TRI) Trading Up 6.3% – Here’s What Happened

Shares of Thomson Reuters Co. (TSE:TRI) (NYSE:TRI) rose 6.3% on Tuesday . The stock traded as high as C$149.12 and last traded at C$146.66. Approximately 699,801 shares traded hands during mid-day trading, a decline of 14% from the average daily volume of 813,069 shares. The stock had previously closed at C$137.93.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TRI. Argus upgraded Thomson Reuters to a “hold” rating in a report on Wednesday, April 22nd. TD increased their price objective on Thomson Reuters from C$175.00 to C$185.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. National Bank Financial decreased their price objective on shares of Thomson Reuters from C$175.00 to C$171.00 and set an “outperform” rating for the company in a research report on Wednesday, July 15th. Finally, Scotia lowered their price target on Thomson Reuters from C$156.00 to C$138.00 and set a “sector outperform” rating for the company in a research report on Wednesday, May 6th. Four investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$162.33.

Thomson Reuters Stock Down 6.6%

The company has a debt-to-equity ratio of 22.71, a current ratio of 0.60 and a quick ratio of 0.52. The business’s fifty day simple moving average is C$122.03 and its two-hundred day simple moving average is C$129.34. The company has a market cap of C$60.88 billion, a PE ratio of 40.38, a PEG 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 (EPS) 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 predict that Thomson Reuters Co. will post 5.6395803 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jason Williams sold 2,864 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of C$122.18, for a total value of C$349,923.52. Also, Director Sean Cannizzaro sold 320 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of C$130.70, for a total value of C$41,824.00. Following the completion of the transaction, the director directly owned 1,075 shares of the company’s stock, valued at approximately C$140,502.50. This represents a 22.94% decrease in their ownership of the stock. Insiders have sold 3,497 shares of company stock valued at $432,829 over the last 90 days. 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.