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

Shares of Thomson Reuters Co. (TSE:TRI) (NYSE:TRI) dropped 15.8% 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 changed hands during trading, an increase of 43% from the average daily volume of 517,837 shares. The stock had previously closed at C$149.00.

TRI has been the topic of several other reports. The Goldman Sachs Group raised 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 shares of Thomson Reuters from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. Finally, Huber Research upgraded Thomson Reuters to a “strong-buy” rating in a research note on Monday, October 20th. Six analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Strong Buy” and a consensus price target of C$243.80.

Thomson Reuters Stock Up 2.0%

The stock has a market cap of C$56.88 billion, a P/E ratio of 32.87, a PEG ratio of 3.64 and a beta of -0.02. The company has a debt-to-equity ratio of 24.28, a current ratio of 0.94 and a quick ratio of 0.52. The stock’s fifty day simple moving average is C$174.72 and its 200-day simple moving average is C$210.15.

Thomson Reuters (TSE:TRI) (NYSE:TRI) last issued its quarterly earnings data on Tuesday, November 4th. The company reported C$0.85 EPS for the quarter. Thomson Reuters had a return on equity of 20.19% and a net margin of 32.12%.The firm had revenue of C$2.48 billion during the quarter. On average, research analysts anticipate that Thomson Reuters Co. will post 5.6395803 earnings per share for the current 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.