Thomson Reuters (TSE:TRI) Sets New 52-Week High - Here's Why

Thomson Reuters Co. (TSE:TRI - Get Free Report) NYSE: TRI's share price reached a new 52-week high during trading on Monday . The stock traded as high as C$274.74 and last traded at C$274.26, with a volume of 21933 shares traded. The stock had previously closed at C$271.86.

Wall Street Analysts Forecast Growth

TRI has been the topic of several recent research reports. Bank of America set a C$255.00 price objective on shares of Thomson Reuters and gave the stock a "neutral" rating in a research report on Thursday, April 10th. BMO Capital Markets boosted their price objective on shares of Thomson Reuters from C$265.00 to C$280.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Canaccord Genuity Group upped their target price on shares of Thomson Reuters from C$175.00 to C$181.00 and gave the company a "hold" rating in a report on Friday, May 2nd. Finally, Scotiabank lowered shares of Thomson Reuters from a "strong-buy" rating to a "hold" rating in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of C$252.40.

Thomson Reuters Stock Performance

The stock's 50-day moving average is C$265.73 and its 200-day moving average is C$250.75. The stock has a market cap of C$86.83 billion, a price-to-earnings ratio of 41.39, a P/E/G ratio of 3.64 and a beta of 0.40. The company has a current ratio of 0.94, a quick ratio of 0.52 and a debt-to-equity ratio of 24.28.

Insider Transactions at Thomson Reuters

In other Thomson Reuters news, Director Michael Parker sold 286 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of C$257.96, for a total value of C$73,777.70. Following the completion of the transaction, the director owned 594 shares in the company, valued at C$153,230.62. This represents a 32.50% decrease in their position. Also, Director Heather Anne O'hagan sold 875 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of C$267.45, for a total value of C$234,019.98. Following the completion of the transaction, the director owned 631 shares of the company's stock, valued at approximately C$168,761.83. This represents a 58.10% decrease in their position. Insiders have sold 29,227 shares of company stock worth $7,571,100 over the last 90 days. 69.76% of the stock is owned by corporate insiders.

About Thomson Reuters

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.