Thomson Reuters (NYSE:TRI) Hits New 12-Month High After Earnings Beat

Shares of Thomson Reuters Co. (NYSE:TRIGet Free Report) (TSE:TRI) reached a new 52-week high on Thursday following a better than expected earnings announcement. The company traded as high as $176.95 and last traded at $175.92, with a volume of 60653 shares changing hands. The stock had previously closed at $169.23.

The business services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%.

Analysts Set New Price Targets

A number of analysts have recently commented on TRI shares. CIBC boosted their price objective on shares of Thomson Reuters from $164.00 to $165.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Royal Bank of Canada lifted their target price on Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 6th. Scotiabank increased their price target on Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. Wells Fargo & Company assumed coverage on shares of Thomson Reuters in a research report on Tuesday, November 26th. They set an “equal weight” rating and a $165.00 price objective for the company. Finally, StockNews.com upgraded shares of Thomson Reuters from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Thomson Reuters presently has an average rating of “Hold” and a consensus target price of $176.10.

Check Out Our Latest Analysis on TRI

Hedge Funds Weigh In On Thomson Reuters

A number of large investors have recently made changes to their positions in TRI. SBI Securities Co. Ltd. bought a new stake in Thomson Reuters during the 4th quarter worth approximately $27,000. Jones Financial Companies Lllp grew its position in Thomson Reuters by 25.1% during the fourth quarter. Jones Financial Companies Lllp now owns 23,869 shares of the business services provider’s stock worth $3,828,000 after buying an additional 4,792 shares in the last quarter. Noble Wealth Management PBC bought a new position in Thomson Reuters in the 4th quarter worth about $33,000. US Bancorp DE grew its holdings in shares of Thomson Reuters by 4.2% during the fourth quarter. US Bancorp DE now owns 19,357 shares of the business services provider’s stock worth $3,104,000 after purchasing an additional 778 shares in the last quarter. Finally, First American Bank raised its stake in Thomson Reuters by 1.2% in the fourth quarter. First American Bank now owns 23,677 shares of the business services provider’s stock valued at $3,797,000 after purchasing an additional 283 shares in the last quarter. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Stock Up 4.6 %

The stock’s fifty day moving average price is $163.68 and its 200 day moving average price is $165.33. The stock has a market cap of $79.67 billion, a P/E ratio of 34.80, a price-to-earnings-growth ratio of 5.31 and a beta of 0.73. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16.

About Thomson Reuters

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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.

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