Thomson Reuters (TSE:TRI) Share Price Passes Above 200 Day Moving Average – Here’s Why

Thomson Reuters Co. (TSE:TRI) (NYSE:TRI)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$229.55 and traded as high as C$235.02. Thomson Reuters shares last traded at C$234.13, with a volume of 56,582 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TRI shares. BMO Capital Markets upped their price objective on shares of Thomson Reuters from C$251.00 to C$256.00 in a research report on Wednesday, November 6th. Wells Fargo & Company upgraded shares of Thomson Reuters to a “hold” rating in a research report on Tuesday, November 26th. TD Securities boosted their price objective on Thomson Reuters from C$235.00 to C$250.00 in a research note on Wednesday, November 6th. Finally, National Bank Financial upgraded Thomson Reuters from a “hold” rating to a “strong-buy” rating in a research report on Sunday, September 8th. Six equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Thomson Reuters currently has an average rating of “Moderate Buy” and an average price target of C$197.50.

Thomson Reuters Price Performance

The company has a debt-to-equity ratio of 29.05, a quick ratio of 0.52 and a current ratio of 0.88. The stock’s 50 day simple moving average is C$232.55 and its two-hundred day simple moving average is C$229.62. The firm has a market capitalization of C$105.29 billion, a PE ratio of 33.02, a price-to-earnings-growth ratio of 3.64 and a beta of 0.40.

Thomson Reuters Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.73 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.92 dividend on an annualized basis and a yield of 1.25%. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.20. Thomson Reuters’s payout ratio is 41.33%.

Insiders Place Their Bets

In related news, Senior Officer David Franklin Wong sold 2,417 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of C$165.58, for a total value of C$400,206.86. Corporate insiders own 69.76% of the company’s stock.

Thomson Reuters Company Profile

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.