Thomson Reuters Corp. (NYSE:TRI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “Thomson Corporation is a leading provider of value-added information and technology to users in the fields of law, tax, accounting, financial services, higher education, reference information, corporate training and assessment, scientific research and healthcare. “
TRI has been the topic of a number of other reports. Barclays PLC raised their price target on shares of Thomson Reuters Corp. from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, August 23rd. TD Securities lowered shares of Thomson Reuters Corp. from a “buy” rating to a “hold” rating in a research report on Monday, June 27th. Macquarie initiated coverage on shares of Thomson Reuters Corp. in a research report on Thursday, August 25th. They issued a “neutral” rating for the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $60.00 price objective (up from $57.50) on shares of Thomson Reuters Corp. in a research report on Monday, August 1st. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Thomson Reuters Corp. in a research report on Thursday, September 8th. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $48.00.
Thomson Reuters Corp. (NYSE:TRI) opened at 41.20 on Thursday. Thomson Reuters Corp. has a 52-week low of $33.96 and a 52-week high of $43.68. The firm has a 50 day moving average of $41.35 and a 200-day moving average of $41.30. The company has a market capitalization of $30.72 billion, a price-to-earnings ratio of 24.51 and a beta of 0.82.
Thomson Reuters Corp. (NYSE:TRI) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. Thomson Reuters Corp. had a net margin of 11.09% and a return on equity of 12.81%. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same period last year, the business earned $0.52 EPS. The company’s revenue was down 1.2% compared to the same quarter last year. Equities analysts expect that Thomson Reuters Corp. will post $2.01 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, August 18th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Tuesday, August 16th. Thomson Reuters Corp.’s dividend payout ratio (DPR) is 80.95%.
Several institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. raised its position in Thomson Reuters Corp. by 132.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,195 shares of the company’s stock valued at $130,000 after buying an additional 1,819 shares during the period. BlackRock Advisors LLC boosted its stake in Thomson Reuters Corp. by 708.8% in the second quarter. BlackRock Advisors LLC now owns 3,389 shares of the company’s stock worth $137,000 after buying an additional 2,970 shares in the last quarter. Daiwa SB Investments Ltd. bought a new stake in Thomson Reuters Corp. during the second quarter worth about $182,000. Creative Planning boosted its stake in Thomson Reuters Corp. by 31.9% in the second quarter. Creative Planning now owns 4,490 shares of the company’s stock worth $181,000 after buying an additional 1,085 shares in the last quarter. Finally, Archford Capital Strategies LLC boosted its stake in Thomson Reuters Corp. by 2,606.6% in the second quarter. Archford Capital Strategies LLC now owns 5,359 shares of the company’s stock worth $217,000 after buying an additional 5,161 shares in the last quarter. 28.76% of the stock is owned by hedge funds and other institutional investors.
About Thomson Reuters Corp.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Thomson Reuters Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thomson Reuters Corp. and related companies with MarketBeat.com's FREE daily email newsletter.