Scotiabank upgraded shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) from a sector perform rating to an outperform rating in a report issued on Tuesday, October 17th. The firm currently has $55.00 price target on the business services provider’s stock, up from their previous price target of $47.00.
Other research analysts have also issued reports about the stock. Deutsche Bank AG raised their target price on shares of Thomson Reuters Corp from $50.00 to $55.00 and gave the company a buy rating in a research note on Wednesday, August 2nd. BidaskClub upgraded shares of Thomson Reuters Corp from a hold rating to a buy rating in a research note on Saturday, June 24th. Zacks Investment Research upgraded shares of Thomson Reuters Corp from a hold rating to a buy rating and set a $51.00 target price on the stock in a research note on Tuesday, September 5th. TD Securities upgraded shares of Thomson Reuters Corp from a hold rating to a buy rating in a research note on Wednesday, September 6th. Finally, Macquarie upgraded shares of Thomson Reuters Corp to a buy rating and raised their price target for the stock from $51.00 to $58.00 in a research report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $52.25.
Shares of Thomson Reuters Corp (NYSE:TRI) traded up $0.07 on Tuesday, hitting $44.65. 608,905 shares of the stock traded hands, compared to its average volume of 905,241. Thomson Reuters Corp has a 52 week low of $40.74 and a 52 week high of $48.61. The firm has a market cap of $31,861.52, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 2.18 and a beta of 0.74. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.48.
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last posted its earnings results on Wednesday, November 1st. The business services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. Thomson Reuters Corp had a net margin of 27.20% and a return on equity of 13.92%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period last year, the business posted $0.54 EPS. Thomson Reuters Corp’s revenue was up 1.7% compared to the same quarter last year. research analysts anticipate that Thomson Reuters Corp will post 2.45 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Wednesday, November 15th. Thomson Reuters Corp’s payout ratio is 33.09%.
Large investors have recently added to or reduced their stakes in the company. Huntington National Bank bought a new position in shares of Thomson Reuters Corp during the 2nd quarter worth about $106,000. ETF Managers Group LLC bought a new position in Thomson Reuters Corp during the 2nd quarter valued at about $127,000. Omnia Family Wealth LLC lifted its holdings in Thomson Reuters Corp by 0.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 3,538 shares of the business services provider’s stock valued at $164,000 after purchasing an additional 10 shares during the last quarter. Beach Investment Management LLC. bought a new position in Thomson Reuters Corp during the 2nd quarter valued at about $203,000. Finally, SG Americas Securities LLC increased its position in Thomson Reuters Corp by 44.0% in the 2nd quarter. SG Americas Securities LLC now owns 4,900 shares of the business services provider’s stock valued at $227,000 after acquiring an additional 1,497 shares in the last quarter. 26.09% of the stock is owned by institutional investors.
About Thomson Reuters Corp
Thomson Reuters Corporation (Thomson Reuters) is a Canada-based provider of news and information for professional markets. The Company is organized in three business units: Financial & Risk, Legal, and Tax & Accounting. The Financial & Risk unit is a provider of critical news, information and analytics, enabling transactions and connecting communities of trading, investment, financial and corporate professionals.
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