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 changing hands.

Wall Street Analysts Forecast Growth

TRI has been the topic of a number of recent analyst reports. Scotiabank upgraded Thomson Reuters from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. National Bank Financial raised shares of Thomson Reuters from a “hold” rating to a “strong-buy” rating in a report on Sunday, September 8th. BMO Capital Markets boosted their target price on shares of Thomson Reuters from C$251.00 to C$256.00 in a research note on Wednesday, November 6th. Wells Fargo & Company raised shares of Thomson Reuters to a “hold” rating in a research note on Tuesday, November 26th. Finally, 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. Six investment analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$197.50.

Thomson Reuters Stock Performance

The company has a market cap of C$105.29 billion, a PE ratio of 33.02, a PEG ratio of 3.64 and a beta of 0.40. 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 firm’s 50 day moving average is C$232.40 and its 200-day moving average is C$229.55.

Thomson Reuters Increases Dividend

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

Insider Buying and Selling

In other news, Senior Officer David Franklin Wong sold 2,417 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of C$165.58, for a total value of C$400,206.86. 69.76% of the stock is currently owned by company insiders.

About Thomson Reuters

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.