Thomson Reuters (NYSE:TRI) Upgraded at Scotiabank

Scotiabank upgraded shares of Thomson Reuters (NYSE:TRI) (TSE:TRI) from a sector perform rating to a sector outperform rating in a research note published on Tuesday morning, MarketBeat Ratings reports. They currently have $182.00 price objective on the business services provider’s stock, up from their prior price objective of $164.00.

TRI has been the topic of several other reports. Canaccord Genuity Group increased their price target on Thomson Reuters from $149.00 to $156.00 and gave the stock a hold rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. increased their target price on shares of Thomson Reuters from $163.00 to $164.00 and gave the stock a neutral rating in a research note on Friday, August 2nd. UBS Group upped their price target on Thomson Reuters from $177.00 to $190.00 and gave the stock a buy rating in a report on Friday, May 3rd. Canaccord Genuity Group raised their price objective on Thomson Reuters from $149.00 to $156.00 and gave the company a hold rating in a report on Friday, May 3rd. Finally, CIBC increased their target price on Thomson Reuters from $152.00 to $156.00 and gave the company a neutral rating in a research report on Friday, May 3rd. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Thomson Reuters has a consensus rating of Hold and an average target price of $173.45.

Thomson Reuters Stock Performance

Shares of TRI opened at $169.59 on Tuesday. The stock has a 50-day moving average of $164.59 and a two-hundred day moving average of $162.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $76.27 billion, a P/E ratio of 32.30, a P/E/G ratio of 5.96 and a beta of 0.72. Thomson Reuters has a one year low of $117.46 and a one year high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the prior year, the company earned $0.84 EPS. Thomson Reuters’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, research analysts predict that Thomson Reuters will post 3.72 EPS for the current year.

Thomson Reuters Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a $0.146 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.34%. Thomson Reuters’s dividend payout ratio (DPR) is presently 41.14%.

Hedge Funds Weigh In On Thomson Reuters

A number of institutional investors have recently added to or reduced their stakes in TRI. Clearbridge Investments LLC grew its holdings in Thomson Reuters by 9.4% in the 2nd quarter. Clearbridge Investments LLC now owns 1,458,700 shares of the business services provider’s stock valued at $245,893,000 after buying an additional 125,167 shares in the last quarter. Ariadne Wealth Management LP purchased a new position in shares of Thomson Reuters during the 2nd quarter worth $1,409,000. IMS Capital Management raised its holdings in shares of Thomson Reuters by 36.7% during the 2nd quarter. IMS Capital Management now owns 3,243 shares of the business services provider’s stock worth $531,000 after acquiring an additional 870 shares during the period. Creative Planning raised its holdings in shares of Thomson Reuters by 1.0% during the 2nd quarter. Creative Planning now owns 16,828 shares of the business services provider’s stock worth $2,837,000 after acquiring an additional 164 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Thomson Reuters during the 2nd quarter worth $4,905,000. Hedge funds and other institutional investors own 17.31% 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.