TD Securities upgraded shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) from a hold rating to a buy rating in a research report report published on Wednesday morning, Marketbeat.com reports.
Several other research firms have also issued reports on TRI. Scotiabank increased their target price on shares of Thomson Reuters Corp from $45.00 to $47.00 and gave the stock a sector perform rating in a report on Wednesday, August 2nd. Royal Bank Of Canada upped their price target on Thomson Reuters Corp from $45.00 to $47.00 and gave the stock a sector perform rating in a research note on Wednesday, August 2nd. Deutsche Bank AG upped their price target on Thomson Reuters Corp from $50.00 to $55.00 and gave the stock a buy rating in a research note on Wednesday, August 2nd. Piper Jaffray Companies restated a hold rating and issued a $50.00 price target on shares of Thomson Reuters Corp in a research note on Thursday, August 3rd. Finally, Zacks Investment Research upgraded Thomson Reuters Corp from a sell rating to a hold rating and set a $53.00 price target for the company in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $50.36.
Thomson Reuters Corp (NYSE TRI) opened at 45.53 on Wednesday. The firm’s 50-day moving average is $46.14 and its 200-day moving average is $44.62. The company has a market cap of $32.54 billion, a price-to-earnings ratio of 11.18 and a beta of 0.75. Thomson Reuters Corp has a 12 month low of $39.23 and a 12 month high of $48.57.
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last released its earnings results on Tuesday, August 1st. The business services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.09. The company had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.78 billion. Thomson Reuters Corp had a net margin of 26.81% and a return on equity of 13.64%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS. On average, analysts anticipate that Thomson Reuters Corp will post $2.44 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 17th will be given a dividend of $0.345 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.03%. Thomson Reuters Corp’s dividend payout ratio is currently 33.91%.
Thomson Reuters Corp declared that its board has approved a share repurchase plan on Wednesday, May 24th that permits the company to buyback 36,000,000 shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
Several hedge funds and other institutional investors have recently bought and sold shares of TRI. Huntington National Bank bought a new position in shares of Thomson Reuters Corp during the 2nd quarter valued at approximately $106,000. ETF Managers Group LLC bought a new position in shares of Thomson Reuters Corp during the 2nd quarter valued at approximately $127,000. Omnia Family Wealth LLC boosted its position in shares of 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 acquiring an additional 10 shares during the last quarter. Beach Investment Management LLC. bought a new position in shares of Thomson Reuters Corp during the 2nd quarter valued at approximately $203,000. Finally, Laurel Wealth Advisors Inc. bought a new position in shares of Thomson Reuters Corp during the 1st quarter valued at approximately $216,000. Hedge funds and other institutional investors own 26.16% of the company’s stock.
Thomson Reuters Corp Company Profile
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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