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

Thomson Reuters Co. (TSE:TRI) (NYSE:TRI)’s stock price fell 15.8% during trading 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. 741,010 shares were traded during mid-day trading, an increase of 43% from the average session volume of 517,837 shares. The stock had previously closed at C$149.00.

Several other research analysts have also commented on TRI. 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. Canaccord Genuity Group upgraded Thomson Reuters from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 5th. Finally, Huber Research raised shares of Thomson Reuters to a “strong-buy” rating in a report on Monday, October 20th. Six research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Strong Buy” and a consensus price target of C$243.80.

Thomson Reuters Price Performance

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 firm has a market capitalization of C$55.81 billion, a PE ratio of 32.25, a PEG ratio of 3.64 and a beta of 0.14. The stock has a 50-day moving average price of C$177.19 and a 200 day moving average price of C$211.86.

Thomson Reuters (TSE:TRI) (NYSE:TRI) last announced its earnings results on Tuesday, November 4th. The company reported C$0.85 earnings per share (EPS) for the quarter. The firm 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%. Equities analysts forecast that Thomson Reuters Co. 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.