Zacks Investment Research Lowers Thomson Reuters Corp (NYSE:TRI) to Hold

Zacks Investment Research cut shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) from a buy rating to a hold rating in a research report sent to investors on Saturday, November 4th.

According to Zacks, “Thomson Corporation is a leading provider of value-added information and technology to users in the fields of law, tax, accounting, financial services, higher education, reference information, corporate training and assessment, scientific research and healthcare. “

Other equities analysts also recently issued reports about the stock. Scotiabank increased their price objective on shares of Thomson Reuters Corp from $45.00 to $47.00 and gave the company a sector perform rating in a research note on Wednesday, August 2nd. Royal Bank Of Canada increased their price objective on shares of Thomson Reuters Corp from $45.00 to $47.00 and gave the company a sector perform rating in a research note on Wednesday, August 2nd. Deutsche Bank AG increased their price objective 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. Morgan Stanley increased their price objective on shares of Thomson Reuters Corp from $51.00 to $52.00 and gave the company an equal weight rating in a research note on Monday, October 23rd. Finally, Credit Suisse Group began coverage on shares of Thomson Reuters Corp in a research note on Tuesday, October 24th. They set a neutral rating and a $52.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $51.23.

Shares of Thomson Reuters Corp (NYSE:TRI) traded up $0.10 during trading hours on Friday, hitting $44.08. 911,500 shares of the stock were exchanged, compared to its average volume of 1,145,445. The stock has a market capitalization of $31,294.39, a price-to-earnings ratio of 17.52, a PEG ratio of 2.15 and a beta of 0.74. Thomson Reuters Corp has a fifty-two week low of $42.22 and a fifty-two week high of $48.61. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.41.

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last issued its earnings results on Wednesday, November 1st. The business services provider reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.10. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. Thomson Reuters Corp had a net margin of 27.20% and a return on equity of 13.91%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company posted $0.54 earnings per share. sell-side analysts expect that Thomson Reuters Corp will post 2.46 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 16th will be paid a $0.345 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.38 annualized dividend and a yield of 3.13%. Thomson Reuters Corp’s dividend payout ratio (DPR) is 33.09%.

A number of institutional investors and hedge funds have recently made changes to their positions in TRI. Huntington National Bank acquired a new stake in Thomson Reuters Corp in the second quarter valued at approximately $106,000. ETF Managers Group LLC acquired a new stake in Thomson Reuters Corp in the second quarter valued at approximately $127,000. Omnia Family Wealth LLC boosted its stake in Thomson Reuters Corp by 0.3% in the second quarter. Omnia Family Wealth LLC now owns 3,538 shares of the business services provider’s stock valued at $164,000 after acquiring an additional 10 shares in the last quarter. Beach Investment Management LLC. acquired a new stake in Thomson Reuters Corp in the second quarter valued at approximately $203,000. Finally, Boothbay Fund Management LLC acquired a new stake in Thomson Reuters Corp in the third quarter valued at approximately $216,000. Institutional investors own 24.73% of the company’s stock.

Thomson Reuters Corp Company Profile

Thomson Reuters Corp (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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Analyst Recommendations for Thomson Reuters Corp (NYSE:TRI)

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