Thomson Reuters Co. (TSE:TRI – Get Free Report) (NYSE:TRI) shares hit a new 52-week low during trading on Thursday . The company traded as low as C$108.70 and last traded at C$109.32, with a volume of 324653 shares changing hands. The stock had previously closed at C$112.62.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the stock. National Bank Financial cut their target price on shares of Thomson Reuters from C$190.00 to C$175.00 and set an “outperform” rating on the stock in a research note on Sunday, February 8th. Scotia lowered their price objective on shares of Thomson Reuters from C$156.00 to C$138.00 and set a “sector outperform” rating on the stock in a report on Wednesday, May 6th. Wells Fargo & Company downgraded shares of Thomson Reuters from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 23rd. Royal Bank Of Canada raised shares of Thomson Reuters from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, February 10th. Finally, Argus upgraded Thomson Reuters to a “hold” rating in a research note on Wednesday, April 22nd. Four analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$163.00.
Check Out Our Latest Research Report on TRI
Thomson Reuters Price Performance
Thomson Reuters (TSE:TRI – Get Free Report) (NYSE:TRI) last announced its 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 12.64% and a net margin of 19.92%.The firm had revenue of C$2.90 billion during the quarter. Research analysts expect that Thomson Reuters Co. will post 5.6395803 earnings per share for the current fiscal year.
Insider Transactions at Thomson Reuters
In related news, Director Sean Cannizzaro sold 320 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of C$130.70, for a total transaction of C$41,824.00. Following the sale, the director directly owned 1,075 shares in the company, valued at approximately C$140,502.50. The trade was a 22.94% decrease in their position. Also, Director Jason Williams sold 2,864 shares of Thomson Reuters stock in a transaction dated Monday, May 11th. The shares were sold at an average price of C$122.18, for a total value of C$349,923.52. Insiders sold 203,497 shares of company stock worth $25,834,679 over the last quarter. Corporate 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. 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.
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