Thomson Reuters (TSE:TRI) Shares Down 15.8% Following Analyst Downgrade

Key Points

• Thomson Reuters shares fell 15.8% after National Bankshares cut its price target from C$300 to C$190 while keeping an outperform rating; the stock traded as low as C$124.13 and volume rose about 43%.
• Analysts remain broadly bullish despite the drop — MarketBeat shows a consensus "Strong Buy" (six Strong Buys, three Buys, one Hold) with a consensus target price of C$243.80.
• Latest quarter: EPS of C$0.85 on C$2.48 billion in revenue; valuation metrics include a market cap of C$55.81 billion and a P/E of 32.25.

Thomson Reuters Co. (TSE:TRI - Get Free Report) NYSE: TRI shares were down 15.8% on Tuesday after National Bankshares lowered their price target on the stock from C$300.00 to C$190.00. National Bankshares currently has an outperform rating on the stock. Thomson Reuters traded as low as C$124.13 and last traded at C$125.46. Approximately 741,010 shares were traded during trading, an increase of 43% from the average daily volume of 517,837 shares. The stock had previously closed at C$149.00.

Several other equities research analysts have also recently issued reports on TRI. Huber Research upgraded shares of Thomson Reuters to a "strong-buy" rating in a research report on Monday, October 20th. Canaccord Genuity Group upgraded Thomson Reuters from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, November 5th. Finally, The Goldman Sachs Group raised shares of Thomson Reuters from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 15th. Six equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Thomson Reuters has an average rating of "Strong Buy" and a consensus target price of C$243.80.

Thomson Reuters Stock Down 15.8%

The company's 50 day moving average price is C$177.19 and its two-hundred day moving average price is C$211.86. 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 stock has a market cap of C$55.81 billion, a P/E ratio of 32.25, a P/E/G ratio of 3.64 and a beta of 0.14.

Thomson Reuters (TSE:TRI - Get Free Report) NYSE: TRI last announced its quarterly earnings data on Tuesday, November 4th. The company reported C$0.85 earnings per share (EPS) for the quarter. The company had revenue of C$2.48 billion for the quarter. Thomson Reuters had a return on equity of 20.19% and a net margin of 32.12%. As a group, research analysts expect that Thomson Reuters Co. will post 5.6395803 earnings per share for the current year.

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.

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