Thomson Reuters Co. (TSE:TRI) Receives C$263.80 Average Price Target from Brokerages

Key Points

• Thomson Reuters Co. has a consensus rating of “Moderate Buy” from eight brokerages, with an average price target of C$263.80.
• Recent insider activity included significant stock sales, with Director Michael Parker reducing his stake by 32.50% and Senior Officer Mary Alice Vuicic selling 8,621 shares for over C$2.3 million.
• The company announced a quarterly dividend of $0.595 per share, reflecting an annualized yield of 1.0% and a payout ratio of 44.12%.

Thomson Reuters Co. (TSE:TRI - Get Free Report) NYSE: TRI has been given a consensus recommendation of "Moderate Buy" by the eight research firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is C$263.80.

A number of brokerages recently commented on TRI. BMO Capital Markets lifted their price target on Thomson Reuters from C$280.00 to C$308.00 in a report on Wednesday, July 16th. TD Securities lowered their price target on Thomson Reuters from C$305.00 to C$275.00 and set a "hold" rating for the company in a research report on Thursday, August 7th. National Bankshares upped their price target on Thomson Reuters from C$286.00 to C$300.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th. Scotiabank raised Thomson Reuters from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 6th. Finally, Canaccord Genuity Group increased their target price on Thomson Reuters from C$175.00 to C$181.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd.

Insider Transactions at Thomson Reuters

In related news, Senior Officer Elizabeth Beastrom sold 2,848 shares of Thomson Reuters stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of C$262.48, for a total transaction of C$747,543.04. Also, Senior Officer Mary Alice Vuicic sold 8,621 shares of the firm's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of C$269.21, for a total value of C$2,320,816.31. Insiders have sold a total of 12,476 shares of company stock worth $3,338,080 in the last ninety days. Insiders own 69.76% of the company's stock.

Thomson Reuters Stock Up 2.2%

Shares of TSE:TRI traded up C$5.02 during mid-day trading on Tuesday, hitting C$236.88. 95,963 shares of the company traded hands, compared to its average volume of 359,705. The stock has a 50-day moving average price of C$269.30 and a two-hundred day moving average price of C$258.22. The stock has a market cap of C$74.83 billion, a P/E ratio of 35.67, a P/E/G ratio of 3.64 and a beta of 0.40. Thomson Reuters has a 12-month low of C$217.85 and a 12-month high of C$299.24. The company has a current ratio of 0.94, a quick ratio of 0.52 and a debt-to-equity ratio of 24.28.

Thomson Reuters Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be paid a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.0%. Thomson Reuters's dividend payout ratio (DPR) is currently 44.12%.

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.