Thomson Reuters (TSE:TRI) Shares Up 6.3% – Here’s Why

Thomson Reuters Co. (TSE:TRI) (NYSE:TRI) shares rose 6.3% during mid-day trading on Tuesday . The stock traded as high as C$149.12 and last traded at C$146.66. 699,801 shares traded hands during mid-day trading, a decline of 14% from the average session volume of 813,069 shares. The stock had previously closed at C$137.93.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Argus raised shares of Thomson Reuters to a “hold” rating in a research report on Wednesday, April 22nd. TD lifted their target price on shares of Thomson Reuters from C$175.00 to C$185.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. National Bank Financial decreased their target price on shares of Thomson Reuters from C$175.00 to C$171.00 and set an “outperform” rating for the company in a report on Wednesday, July 15th. Finally, Scotia dropped their target price on shares of Thomson Reuters from C$156.00 to C$138.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, May 6th. Four analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$162.33.

Thomson Reuters Stock Up 5.5%

The company has a 50 day moving average price of C$120.88 and a two-hundred day moving average price of C$129.78. The company has a debt-to-equity ratio of 22.71, a current ratio of 0.60 and a quick ratio of 0.52. The stock has a market cap of C$63.54 billion, a PE ratio of 42.15, a PEG ratio of 3.64 and a beta of 0.06.

Thomson Reuters (TSE:TRI) (NYSE:TRI) last announced its quarterly earnings results on Tuesday, May 5th. The company reported C$1.71 earnings per share (EPS) for the quarter. Thomson Reuters had a return on equity of 12.70% and a net margin of 19.93%.The firm had revenue of C$2.90 billion for the quarter. Analysts expect that Thomson Reuters Co. will post 5.6395803 EPS for the current year.

Insider Activity

In other news, Director Sean Cannizzaro sold 320 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of C$130.70, for a total transaction of C$41,824.00. Following the sale, the director owned 1,075 shares of the company’s stock, valued at C$140,502.50. This trade represents a 22.94% decrease in their position. Also, Director Jason Williams sold 2,864 shares of Thomson Reuters stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of C$122.18, for a total transaction of C$349,923.52. Insiders have sold a total of 3,497 shares of company stock worth $432,829 in the last 90 days. Company insiders own 69.76% of the company’s stock.

About Thomson Reuters

Thomson Reuters (TSX/Nasdaq: TRI) powers business-critical professions with trusted AI technology built for high-stakes work. The company serves professionals across legal, tax, audit, accounting, compliance, government, and media with products that combine highly specialized software, authoritative content, and deep domain expertise. Reuters, part of Thomson Reuters, is a world-leading provider of trusted journalism and news.