Thomson Reuters (TSE:TRI) Stock Passes Below 200 Day Moving Average – Here’s Why

Thomson Reuters Co. (TSE:TRI) (NYSE:TRI)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$146.51 and traded as low as C$115.23. Thomson Reuters shares last traded at C$115.91, with a volume of 438,456 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TRI shares. Wells Fargo & Company downgraded shares of Thomson Reuters from a “strong-buy” rating to a “hold” rating in a research note 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 note on Tuesday, February 10th. Canadian Imperial Bank of Commerce dropped their price target on shares of Thomson Reuters from C$183.00 to C$140.00 and set an “outperform” rating for the company in a research note on Friday, February 6th. BMO Capital Markets dropped their price target on shares of Thomson Reuters from C$275.00 to C$165.00 in a research note on Friday, February 6th. Finally, TD Securities dropped their price target on shares of Thomson Reuters from C$285.00 to C$175.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Four analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Thomson Reuters has a consensus rating of “Buy” and a consensus price target of C$163.00.

Thomson Reuters Trading Up 0.6%

The company has a quick ratio of 0.52, a current ratio of 0.60 and a debt-to-equity ratio of 20.72. The business’s 50 day moving average is C$122.03 and its 200-day moving average is C$145.78. The firm has a market cap of C$52.44 billion, a P/E ratio of 34.78, a price-to-earnings-growth ratio of 3.64 and a beta of 0.08.

Thomson Reuters (TSE:TRI) (NYSE:TRI) last issued its quarterly earnings results on Tuesday, May 5th. The company reported C$1.71 earnings per share (EPS) for the quarter. Thomson Reuters had a net margin of 19.83% and a return on equity of 12.64%. The business had revenue of C$2.90 billion during the quarter. As a group, analysts forecast that Thomson Reuters Co. will post 5.6395803 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jason Williams sold 2,864 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of C$122.18, for a total value of C$349,923.52. Also, Director Sean Cannizzaro sold 320 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of C$130.70, for a total value of C$41,824.00. Following the completion of the sale, the director owned 1,075 shares of the company’s stock, valued at C$140,502.50. This trade represents a 22.94% decrease in their ownership of the stock. In the last ninety days, insiders sold 203,497 shares of company stock worth $25,834,679. 69.76% of the stock is currently 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.