Thomson Reuters (NASDAQ:TRI) Trading Up 6.5% – Time to Buy?

Shares of Thomson Reuters Corp (NASDAQ:TRI) shot up 6.5% on Monday . The stock traded as high as $87.25 and last traded at $88.0910. 130,570 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 2,481,742 shares. The stock had previously closed at $82.73.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TRI shares. Barclays reissued an “overweight” rating and set a $130.00 price target (down from $170.00) on shares of Thomson Reuters in a report on Friday, May 8th. Scotiabank set a $138.00 price target on shares of Thomson Reuters and gave the company a “sector outperform” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. cut their price objective on shares of Thomson Reuters from $162.40 to $101.50 and set a “neutral” rating for the company in a report on Friday, February 6th. Royal Bank Of Canada raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating and set a $127.89 target price for the company in a report on Tuesday, February 10th. Finally, TD Securities reaffirmed a “buy” rating on shares of Thomson Reuters in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $144.84.

Thomson Reuters Stock Performance

The company has a market cap of $38.10 billion, a P/E ratio of 25.41, a P/E/G ratio of 1.34 and a beta of 0.80. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.60 and a quick ratio of 0.60. The business has a 50-day moving average of $92.52 and a two-hundred day moving average of $112.43.

Thomson Reuters (NASDAQ:TRI) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.05. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2 billion. Thomson Reuters had a net margin of 19.93% and a return on equity of 14.99%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.12 EPS. On average, sell-side analysts predict that Thomson Reuters Corp will post 4.44 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be given a $0.655 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $2.62 dividend on an annualized basis and a yield of 3.0%. Thomson Reuters’s dividend payout ratio is currently 77.33%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TRI. Empowered Funds LLC purchased a new position in shares of Thomson Reuters during the 4th quarter valued at approximately $30,000. Cullen Frost Bankers Inc. lifted its holdings in Thomson Reuters by 50.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 249 shares of the company’s stock valued at $39,000 after purchasing an additional 83 shares in the last quarter. Timmons Wealth Management LLC purchased a new position in shares of Thomson Reuters in the fourth quarter worth about $42,000. Montag A & Associates Inc. purchased a new position in Thomson Reuters in the 4th quarter worth approximately $43,000. Finally, Western Wealth Management LLC purchased a new position in Thomson Reuters during the first quarter worth approximately $48,000. 17.31% of the stock is owned by institutional investors and hedge funds.

Thomson Reuters Company Profile

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.