Thomson Reuters (TSE:TRI) Trading Down 15.8% After Analyst Downgrade

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

A number of other research analysts also recently issued reports on the stock. Huber Research upgraded shares of Thomson Reuters to a “strong-buy” rating in a research note on Monday, October 20th. Canaccord Genuity Group upgraded shares of Thomson Reuters from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. Finally, 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. Six 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Strong Buy” and an average target price of C$243.80.

Thomson Reuters Price Performance

The stock has a market capitalization of C$55.79 billion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 3.64 and a beta of -0.02. The company has a current ratio of 0.94, a quick ratio of 0.52 and a debt-to-equity ratio of 24.28. The company’s 50 day moving average is C$175.92 and its 200 day moving average is C$210.73.

Thomson Reuters (TSE:TRI) (NYSE:TRI) last released its quarterly earnings data on Tuesday, November 4th. The company reported C$0.85 earnings per share (EPS) 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$2.48 billion during the quarter. Research analysts anticipate 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.