Thomson Reuters (TSE:TRI) Upgraded at Wells Fargo & Company

Key Points

• Thomson Reuters has been upgraded to a "strong-buy" rating by Wells Fargo, reflecting increased analyst confidence in the stock.
• Multiple analysts, including Scotiabank and Cibc World Mkts, have also upgraded their ratings on Thomson Reuters, contributing to a current consensus rating of "Buy" and a target price of C$265.80.
• The company's stock opened at C$243.34, with a market capitalization of C$109.67 billion and a 12-month high of C$299.24.

Wells Fargo & Company upgraded shares of Thomson Reuters (TSE:TRI - Free Report) NYSE: TRI from a hold rating to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. BMO Capital Markets boosted their price target on shares of Thomson Reuters from C$280.00 to C$308.00 in a research report on Wednesday, July 16th. Cibc World Mkts upgraded shares of Thomson Reuters from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Scotiabank upgraded shares of Thomson Reuters from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 6th. National Bankshares lifted their price objective on shares of Thomson Reuters from C$286.00 to C$300.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Finally, TD Securities raised shares of Thomson Reuters from a "hold" rating to a "buy" rating and raised their target price for the company from C$275.00 to C$285.00 in a research note on Thursday, August 28th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Thomson Reuters presently has an average rating of "Buy" and a consensus price target of C$265.80.

Thomson Reuters Stock Performance

TRI stock traded down C$1.80 on Tuesday, reaching C$237.70. 150,699 shares of the company were exchanged, compared to its average volume of 367,057. The firm has a market capitalization of C$107.13 billion, a PE ratio of 65.66, a PEG ratio of 3.64 and a beta of 0.48. Thomson Reuters has a 12 month low of C$217.85 and a 12 month high of C$299.24. The stock's fifty day moving average price is C$258.39 and its 200 day moving average price is C$257.46. The company has a debt-to-equity ratio of 24.28, a current ratio of 0.94 and a quick ratio of 0.52.

Thomson Reuters Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.0%. Thomson Reuters's dividend payout ratio (DPR) is presently 62.71%.

Insiders Place Their Bets

In other news, Senior Officer Mary Alice Vuicic sold 8,621 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of C$269.21, for a total value of C$2,320,816.31. Insiders own 69.76% of the company's stock.

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.