Thomson Reuters (TSE:TRI) Stock Price Down 9.4% – Here’s Why

Shares of Thomson Reuters Co. (TSE:TRI) (NYSE:TRI) dropped 9.4% during trading on Wednesday . The stock traded as low as C$138.37 and last traded at C$138.74. Approximately 622,615 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 819,307 shares. The stock had previously closed at C$153.12.

Analyst Ratings Changes

TRI has been the subject of several research analyst reports. TD raised their target price on shares of Thomson Reuters from C$185.00 to C$200.00 and gave the company a “buy” rating in a research note on Thursday. Argus upgraded shares of Thomson Reuters to a “hold” rating in a research note on Wednesday, April 22nd. National Bank Financial increased their price objective on shares of Thomson Reuters from C$171.00 to C$180.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Scotia dropped their price objective on shares of Thomson Reuters from C$156.00 to C$138.00 and set a “sector outperform” rating for the company in a report on Wednesday, May 6th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Thomson Reuters presently has an average rating of “Buy” and a consensus target price of C$166.33.

Thomson Reuters Trading Up 1.7%

The firm has a market cap of C$61.71 billion, a P/E ratio of 37.93, a P/E/G ratio of 3.64 and a beta of 0.08. The stock has a 50 day simple moving average of C$124.88 and a 200-day simple moving average of C$127.84. The company has a current ratio of 0.60, a quick ratio of 0.52 and a debt-to-equity ratio of 22.71.

Thomson Reuters (TSE:TRI) (NYSE:TRI) last posted its earnings results on Wednesday, August 5th. The company reported C$1.41 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$2.78 billion during the quarter. On average, equities research analysts expect that Thomson Reuters Co. will post 5.6395803 EPS for the current fiscal year.

Insiders Place Their Bets

In other Thomson Reuters news, Director Jason Williams sold 2,864 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of C$122.18, for a total transaction of C$349,923.52. Also, insider David Franklin Wong sold 299 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of C$139.82, for a total transaction of C$41,806.18. Following the transaction, the insider owned 21,848 shares of the company’s stock, valued at C$3,054,787.36. This trade represents a 1.35% decrease in their position. In the last ninety days, insiders have sold 5,864 shares of company stock worth $769,302. 69.76% of the stock is owned by insiders.

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.