Thomson Reuters (TSE:TRI) Given New C$185.00 Price Target at TD

Key Points

• TD raised its price target on Thomson Reuters to C$185.00 (from C$175.00) and maintained a "Buy" rating, implying roughly a 46.90% upside from the current share price.
• Analyst consensus remains positive with an average rating of "Buy" and an average price target of C$163.00; breakdown: 4 Strong Buy, 6 Buy and 2 Hold.
• Thomson Reuters reported Q results of C$1.71 EPS on C$2.90 billion revenue with a 20.09% net margin; the stock traded at C$125.94 (50‑day MA C$128.86, 200‑day MA C$160.40) and has a 52‑week range of C$109.20–C$299.24.

Thomson Reuters (TSE:TRI - Get Free Report) NYSE: TRI had its price target lifted by research analysts at TD from C$175.00 to C$185.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. TD's price objective points to a potential upside of 46.90% from the stock's current price.

TRI has been the subject of several other reports. Argus upgraded shares of Thomson Reuters to a "hold" rating in a research report on Wednesday, April 22nd. Canadian Imperial Bank of Commerce reduced their price target on Thomson Reuters from C$183.00 to C$140.00 and set an "outperform" rating for the company in a research report on Friday, February 6th. National Bank Financial reduced their price target on Thomson Reuters from C$190.00 to C$175.00 and set an "outperform" rating for the company in a research report on Sunday, February 8th. TD Securities reduced their price target on Thomson Reuters from C$285.00 to C$175.00 and set a "buy" rating for the company in a research report on Friday, February 6th. Finally, Wells Fargo & Company cut Thomson Reuters from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 23rd. Four investment 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 company's stock. According to data from MarketBeat, Thomson Reuters presently has an average rating of "Buy" and an average price target of C$163.00.

Thomson Reuters Stock Performance

TSE TRI traded down C$3.49 during trading hours on Wednesday, hitting C$125.94. 652,927 shares of the company's stock traded hands, compared to its average volume of 847,723. The business's fifty day moving average price is C$128.86 and its two-hundred day moving average price is C$160.40. The company has a current ratio of 0.64, a quick ratio of 0.52 and a debt-to-equity ratio of 17.82. The firm 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. Thomson Reuters has a 52 week low of C$109.20 and a 52 week high of C$299.24.

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

Insider Buying and Selling

In other news, insider The Woodbridge Company Limited sold 65,000 shares of the company's stock in a transaction dated Friday, March 20th. The stock was sold at an average price of C$127.34, for a total value of C$8,277,100.00. Following the completion of the transaction, the insider owned 312,653,088 shares of the company's stock, valued at C$39,813,244,225.92. This represents a 0.02% decrease in their ownership of the stock. 69.76% of the stock is currently owned by insiders.

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.

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