Thomson Reuters (TSE:TRI) Stock Price Crosses Below 200-Day Moving Average - Here's What Happened

Key Points

• Thomson Reuters stock price fell below its 200-day moving average of C$257.30, trading as low as C$235.55.
• A number of brokerages have upgraded Thomson Reuters, with ratings ranging from "Buy" to "Strong Buy," and an average target price of C$265.80.
• The company announced a quarterly dividend of $0.595, reflecting a 1.0% dividend yield and a 62.71% payout ratio.

Thomson Reuters Co. (TSE:TRI - Get Free Report) NYSE: TRI's share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$257.30 and traded as low as C$235.55. Thomson Reuters shares last traded at C$235.79, with a volume of 340,877 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. BMO Capital Markets increased their target price on shares of Thomson Reuters from C$280.00 to C$308.00 in a research report on Wednesday, July 16th. Scotiabank raised shares of Thomson Reuters from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 6th. National Bankshares increased their target price on shares of Thomson Reuters from C$286.00 to C$300.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Wells Fargo & Company raised shares of Thomson Reuters from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 9th. Finally, TD Securities raised Thomson Reuters from a "hold" rating to a "buy" rating and raised their price target for the company from C$275.00 to C$285.00 in a research report on Thursday, August 28th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of C$265.80.

Thomson Reuters Trading Up 1.0%

The stock has a market cap of C$100.95 billion, a P/E ratio of 61.88, a PEG ratio of 3.64 and a beta of 0.48. The company has a debt-to-equity ratio of 24.28, a current ratio of 0.94 and a quick ratio of 0.52. The business's 50 day simple moving average is C$253.93 and its 200 day simple moving average is C$256.51.

Thomson Reuters Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a yield of 1.1%. Thomson Reuters's dividend payout ratio is 62.71%.

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.