Thomson Reuters (TSE:TRI) Raised to Strong-Buy at Cibc World Mkts

Thomson Reuters (TSE:TRI) (NYSE:TRI) was upgraded by equities research analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

TRI has been the subject of several other research reports. Scotiabank upgraded Thomson Reuters from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 6th. Canaccord Genuity Group increased their price objective on Thomson Reuters from C$175.00 to C$181.00 and gave the stock a “hold” rating in a research report on Friday, May 2nd. National Bankshares increased their price objective on Thomson Reuters from C$286.00 to C$300.00 and gave the stock an “outperform” rating in a research report on Thursday, July 10th. BMO Capital Markets increased their price objective on Thomson Reuters from C$280.00 to C$308.00 in a research report on Wednesday, July 16th. Finally, TD Securities dropped their price objective on Thomson Reuters from C$305.00 to C$275.00 and set a “hold” rating for the company in a research note on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Thomson Reuters presently has an average rating of “Moderate Buy” and an average target price of C$263.80.

Thomson Reuters Price Performance

Shares of TSE:TRI opened at C$243.79 on Tuesday. The company has a 50-day simple moving average of C$267.35 and a 200-day simple moving average of C$258.17. Thomson Reuters has a one year low of C$217.85 and a one year high of C$299.24. The company has a debt-to-equity ratio of 24.28, a quick ratio of 0.52 and a current ratio of 0.94. The stock has a market capitalization of C$77.02 billion, a price-to-earnings ratio of 36.71, a PEG ratio of 3.64 and a beta of 0.40.

Insider Transactions at Thomson Reuters

In other news, Senior Officer Elizabeth Beastrom sold 2,848 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of C$262.48, for a total transaction of C$747,543.04. Also, Senior Officer Mary Alice Vuicic sold 8,621 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of C$269.21, for a total transaction of C$2,320,816.31. In the last three months, insiders have sold 11,601 shares of company stock valued at $3,104,060. 69.76% of the stock is owned by company insiders.

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.