Thomson Reuters (NASDAQ:TRI) Trading Up 6.4% – What’s Next?

Thomson Reuters Corp (NASDAQ:TRI)’s stock price shot up 6.4% during trading on Wednesday . The company traded as high as $98.71 and last traded at $97.6310. Approximately 935,312 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 2,317,514 shares. The stock had previously closed at $91.74.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TRI. Barclays reaffirmed an “overweight” rating and issued a $130.00 price target (down from $170.00) on shares of Thomson Reuters in a research note on Friday, May 8th. Bank of America reduced their price objective on shares of Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating on the stock in a report on Tuesday, May 19th. UBS Group set a $185.74 target price on shares of Thomson Reuters and gave the company a “buy” rating in a research report on Thursday, April 23rd. TD Securities reaffirmed a “buy” rating on shares of Thomson Reuters in a research note on Wednesday, May 6th. Finally, Argus started coverage on shares of Thomson Reuters in a research note on Wednesday, April 22nd. They issued a “hold” rating on the stock. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Thomson Reuters presently has an average rating of “Moderate Buy” and an average price target of $143.92.

Thomson Reuters Trading Up 3.5%

The company has a 50 day moving average of $85.40 and a 200-day moving average of $96.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market cap of $43.03 billion, a price-to-earnings ratio of 28.75, a price-to-earnings-growth ratio of 1.42 and a beta of 0.77.

Thomson Reuters (NASDAQ:TRI) last announced its earnings results on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.05. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2 billion. Thomson Reuters had a return on equity of 14.99% and a net margin of 19.93%.Thomson Reuters’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the business posted $1.12 EPS. On average, research analysts anticipate that Thomson Reuters Corp will post 4.44 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, May 20th. Thomson Reuters’s dividend payout ratio is presently 76.16%.

Institutional Investors Weigh In On Thomson Reuters

Hedge funds have recently added to or reduced their stakes in the business. TLT Family Holdco ULC purchased a new stake in shares of Thomson Reuters during the second quarter worth $865,442,000. SEG Family Corp. purchased a new position in Thomson Reuters in the second quarter valued at $659,930,000. Invesco Ltd. grew its stake in Thomson Reuters by 461.1% during the 3rd quarter. Invesco Ltd. now owns 2,253,243 shares of the company’s stock worth $349,996,000 after purchasing an additional 1,851,677 shares in the last quarter. Norges Bank acquired a new position in Thomson Reuters during the 4th quarter worth $153,417,000. Finally, Morgan Stanley increased its holdings in Thomson Reuters by 31.2% during the 4th quarter. Morgan Stanley now owns 2,802,312 shares of the company’s stock worth $369,597,000 after purchasing an additional 665,743 shares during the period. 17.31% of the stock is currently owned by institutional investors and hedge funds.

About Thomson Reuters

Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies real‐time journalism to media organizations worldwide.

Formed in 2008 through the merger of Canada’s Thomson Corporation (founded in 1934) and the UK’s Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.