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

Key Points

• Scotia cut its price target for Thomson Reuters to C$138.00 (from C$156.00) while maintaining a "sector outperform" rating, implying roughly a 9.6% upside from the current share price.
• Despite several recent target cuts by banks, the analyst consensus remains a "Buy" with an average target of C$163.00 and a mix of ratings (4 Strong Buy, 6 Buy, 2 Hold).
• Thomson Reuters shares traded at C$125.94, below both the 50- and 200-day averages, while the latest quarter showed solid results with EPS of C$1.71 on C$2.90 billion in revenue and a net margin of 20.09%.

Thomson Reuters (TSE:TRI - Get Free Report) NYSE: TRI had its price objective dropped by investment analysts at Scotia from C$156.00 to C$138.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a "sector outperform" rating on the stock. Scotia's price objective would suggest a potential upside of 9.58% from the company's current price.

A number of other research analysts have also recently issued reports on TRI. Royal Bank Of Canada raised shares of Thomson Reuters from a "hold" rating to a "moderate buy" rating in a report on Tuesday, February 10th. TD Securities dropped 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 note on Friday, February 6th. Wells Fargo & Company cut shares of Thomson Reuters from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 23rd. BMO Capital Markets dropped their price objective on shares of Thomson Reuters from C$275.00 to C$165.00 in a research note on Friday, February 6th. Finally, National Bank Financial dropped their price objective on shares of Thomson Reuters from C$190.00 to C$175.00 and set an "outperform" rating for the company in a research note on Sunday, February 8th. Four 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 company's stock. According to data from MarketBeat.com, Thomson Reuters presently has an average rating of "Buy" and a consensus target price of C$163.00.

Thomson Reuters Price Performance

Thomson Reuters stock traded down C$3.49 during mid-day trading on Wednesday, reaching C$125.94. The company had a trading volume of 652,927 shares, compared to its average volume of 847,723. Thomson Reuters has a 1 year low of C$109.20 and a 1 year high of C$299.24. The company has a debt-to-equity ratio of 17.82, a current ratio of 0.64 and a quick ratio of 0.52. The company has a market capitalization of C$55.79 billion, a P/E ratio of 37.82, a P/E/G ratio of 3.64 and a beta of 0.11. The stock's 50-day simple moving average is C$128.86 and its 200-day simple moving average is C$160.40.

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

Insider Buying and Selling

In other Thomson Reuters news, insider The Woodbridge Company Limited sold 65,000 shares of Thomson Reuters stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of C$127.34, for a total value of C$8,277,100.00. Following the completion of the sale, the insider directly owned 312,653,088 shares of the company's stock, valued at approximately C$39,813,244,225.92. The trade was a 0.02% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.