CIBC World Markets Cuts Thomson Reuters (TSE:TRI) Price Target to C$140.00

Thomson Reuters (TSE:TRI) (NYSE:TRI) had its target price lowered by CIBC World Markets from C$183.00 to C$140.00 in a research note published on Saturday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other research analysts have also weighed in on TRI. Canaccord Genuity Group raised Thomson Reuters from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. Canadian Imperial Bank of Commerce cut their price objective on shares of Thomson Reuters from C$183.00 to C$140.00 and set an “outperform” rating for the company in a research report on Friday. National Bankshares reduced their price objective on shares of Thomson Reuters from C$300.00 to C$190.00 and set an “outperform” rating for the company in a research note on Monday, February 2nd. The Goldman Sachs Group upgraded shares of Thomson Reuters from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Finally, TD Securities cut their price target on shares of Thomson Reuters from C$285.00 to C$175.00 and set a “buy” rating for the company in a report on Friday. Five analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$175.86.

Thomson Reuters Stock Up 0.9%

Thomson Reuters stock opened at C$121.21 on Friday. The stock has a market cap of C$53.94 billion, a PE ratio of 36.40, a price-to-earnings-growth ratio of 3.64 and a beta of -0.02. The company has a debt-to-equity ratio of 24.28, a quick ratio of 0.52 and a current ratio of 0.94. The firm’s 50-day simple moving average is C$170.66 and its 200 day simple moving average is C$206.36. Thomson Reuters has a fifty-two week low of C$116.21 and a fifty-two week high of C$299.24.

Thomson Reuters (TSE:TRI) (NYSE:TRI) last posted its quarterly earnings results on Thursday, February 5th. The company reported C$1.47 earnings per share for the quarter. Thomson Reuters had a net margin of 32.12% and a return on equity of 20.19%. The company had revenue of C$2.76 billion during the quarter. Research analysts predict that Thomson Reuters will post 5.6395803 EPS for the current fiscal 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.