Thomson Reuters (NYSE:TRI) Trading 7.7% Higher

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) traded up 7.7% on Tuesday . The stock traded as high as $57.17 and last traded at $56.80, 1,340,532 shares were traded during mid-day trading. An increase of 101% from the average session volume of 667,597 shares. The stock had previously closed at $52.75.

TRI has been the topic of a number of recent research reports. Bank of America raised their price objective on shares of Thomson Reuters from $83.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Zacks Investment Research raised Thomson Reuters from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Royal Bank of Canada downgraded Thomson Reuters from an “outperform” rating to a “sector perform” rating and increased their price target for the company from $70.00 to $82.00 in a research note on Friday, February 7th. ValuEngine lowered Thomson Reuters from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Barclays reaffirmed a “hold” rating and set a $75.00 price objective on shares of Thomson Reuters in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $81.79.

The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.28. The stock has a market cap of $28.96 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 2.22 and a beta of 0.53. The stock’s fifty day moving average is $73.45 and its 200-day moving average is $71.44.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Tuesday, February 25th. The business services provider reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.06. Thomson Reuters had a net margin of 26.84% and a return on equity of 7.13%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the business posted $0.20 earnings per share. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, equities research analysts predict that Thomson Reuters Corp will post 1.9 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Friday, March 6th were paid a dividend of $0.287 per share. This represents a $1.15 annualized dividend and a yield of 1.90%. The ex-dividend date was Thursday, March 5th. Thomson Reuters’s payout ratio is presently 117.83%.

A number of hedge funds have recently bought and sold shares of TRI. Executive Wealth Management LLC acquired a new position in shares of Thomson Reuters in the third quarter valued at approximately $41,000. First American Bank acquired a new stake in shares of Thomson Reuters in the 4th quarter valued at about $4,073,000. Nisa Investment Advisors LLC lifted its holdings in shares of Thomson Reuters by 32.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 15,509 shares of the business services provider’s stock valued at $1,110,000 after purchasing an additional 3,800 shares in the last quarter. Beutel Goodman & Co Ltd. lifted its holdings in shares of Thomson Reuters by 6.9% in the third quarter. Beutel Goodman & Co Ltd. now owns 1,910,119 shares of the business services provider’s stock valued at $127,684,000 after purchasing an additional 123,428 shares in the last quarter. Finally, M&G Investment Management Ltd. acquired a new position in shares of Thomson Reuters during the fourth quarter worth about $8,156,000. Hedge funds and other institutional investors own 20.27% of the company’s stock.

About Thomson Reuters (NYSE:TRI)

Thomson Reuters Corporation provides news and information-based tools to professionals worldwide. It operates through five segments: Legal Professionals, Corporates, Tax Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics.

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