Thomson Reuters (TRI) Receives Hold Rating from Piper Jaffray Companies

Piper Jaffray Companies restated their hold rating on shares of Thomson Reuters (NYSE:TRI) (TSE:TRI) in a research note issued to investors on Wednesday morning. Piper Jaffray Companies also issued estimates for Thomson Reuters’ FY2018 earnings at $0.61 EPS, Q3 2019 earnings at $0.27 EPS, FY2019 earnings at $1.22 EPS and FY2020 earnings at $1.94 EPS.

A number of other analysts have also recently commented on the company. TD Securities reiterated a buy rating and set a $69.00 target price on shares of Thomson Reuters in a research report on Wednesday. Zacks Investment Research cut Thomson Reuters from a buy rating to a hold rating in a research report on Thursday, October 18th. Goldman Sachs Group assumed coverage on Thomson Reuters in a research report on Thursday, October 18th. They set a neutral rating on the stock. Morgan Stanley set a $51.00 target price on Thomson Reuters and gave the stock a buy rating in a research report on Monday, October 15th. Finally, Bank of America reiterated a neutral rating and set a $48.00 target price on shares of Thomson Reuters in a research report on Wednesday, October 10th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $49.09.

Shares of TRI traded up $0.29 during midday trading on Wednesday, reaching $48.05. 76,931 shares of the stock were exchanged, compared to its average volume of 1,733,627. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.31 and a current ratio of 2.31. Thomson Reuters has a twelve month low of $36.52 and a twelve month high of $48.14. The stock has a market capitalization of $27.06 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 10.71 and a beta of 0.52.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Tuesday, November 6th. The business services provider reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.07. Thomson Reuters had a return on equity of 6.04% and a net margin of 16.21%. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts forecast that Thomson Reuters will post 0.64 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Thursday, November 15th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Wednesday, November 14th. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.35. Thomson Reuters’s payout ratio is currently 54.98%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC boosted its holdings in Thomson Reuters by 6,100.0% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,480 shares of the business services provider’s stock valued at $100,000 after purchasing an additional 2,440 shares in the last quarter. Daiwa SB Investments Ltd. purchased a new stake in Thomson Reuters in the 2nd quarter valued at approximately $141,000. Cerebellum GP LLC purchased a new stake in Thomson Reuters in the 3rd quarter valued at approximately $190,000. Beach Investment Counsel Inc. PA purchased a new stake in Thomson Reuters in the 3rd quarter valued at approximately $200,000. Finally, Laurel Wealth Advisors Inc. purchased a new stake in Thomson Reuters in the 2nd quarter valued at approximately $201,000. 28.18% of the stock is currently owned by institutional investors.

About Thomson Reuters

Thomson Reuters Corporation provides news and information for professional markets worldwide. The company operates through three segments: Financial & Risk, Legal, and Tax & Accounting. It sells electronic content and services to professionals primarily on a subscription basis. The Financial & Risk segment offers critical news, information, and analytics enabling transactions and connecting communities of trading, investment, financial, and corporate professionals.

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