Thomson Reuters (TSE:TRI) Hits New 52-Week Low - Here's What Happened

Key Points

• Thomson Reuters shares reached a new 52-week low of C$215.83 before recovering slightly to C$216.10, with a trading volume of 794,162 shares.
• Multiple equity research firms have upgraded the stock, with TD Securities raising their target price from C$275 to C$285 and several analysts issuing "Strong Buy" ratings.
• The company recently announced a quarterly dividend of $0.595 per share, reflecting an annual yield of 1.1% and a payout ratio of 62.71%.

Thomson Reuters Co. (TSE:TRI - Get Free Report) NYSE: TRI shares hit a new 52-week low on Wednesday . The stock traded as low as C$215.83 and last traded at C$216.10, with a volume of 794162 shares. The stock had previously closed at C$217.52.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TRI shares. TD Securities upgraded shares of Thomson Reuters from a "hold" rating to a "buy" rating and increased their target price for the stock from C$275.00 to C$285.00 in a research note on Thursday, August 28th. Scotiabank raised shares of Thomson Reuters from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 6th. Cibc World Mkts raised shares of Thomson Reuters from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. National Bankshares increased their price target on shares of Thomson Reuters from C$286.00 to C$300.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Finally, Wells Fargo & Company raised shares of Thomson Reuters from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 9th. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Thomson Reuters has a consensus rating of "Buy" and an average target price of C$265.80.

Thomson Reuters Stock Performance

The company has a quick ratio of 0.52, a current ratio of 0.94 and a debt-to-equity ratio of 24.28. The company has a market capitalization of C$97.39 billion, a PE ratio of 59.70, a PEG ratio of 3.64 and a beta of 0.48. The stock's fifty day simple moving average is C$244.74 and its 200-day simple moving average is C$255.13.

Thomson Reuters Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a yield of 1.1%. Thomson Reuters's dividend payout ratio (DPR) is presently 62.71%.

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.

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