Thomson Reuters (NYSE:TRI) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Thomson Reuters (NYSE:TRI) (TSE:TRI) from a sell rating to a hold rating in a report issued on Wednesday.

Other research analysts have also issued reports about the stock. Scotiabank increased their price target on shares of Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. CIBC upped their price objective on shares of Thomson Reuters from $164.00 to $165.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. Royal Bank of Canada lifted their target price on shares of Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company assumed coverage on Thomson Reuters in a research note on Tuesday, November 26th. They issued an “equal weight” rating and a $165.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $176.10.

Thomson Reuters Stock Performance

Thomson Reuters stock opened at $159.64 on Wednesday. Thomson Reuters has a fifty-two week low of $142.80 and a fifty-two week high of $176.03. The stock’s 50 day simple moving average is $164.41 and its two-hundred day simple moving average is $165.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $71.83 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 5.69 and a beta of 0.72.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 earnings per share. As a group, analysts expect that Thomson Reuters will post 3.69 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were issued a dividend of $0.54 per share. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.15. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Thursday, November 21st. Thomson Reuters’s dividend payout ratio is presently 42.52%.

Institutional Investors Weigh In On Thomson Reuters

Several institutional investors have recently modified their holdings of TRI. Asset Dedication LLC lifted its stake in Thomson Reuters by 125.0% during the 3rd quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 130 shares during the period. Clean Yield Group bought a new position in Thomson Reuters during the third quarter valued at approximately $42,000. Ashton Thomas Securities LLC purchased a new stake in Thomson Reuters in the third quarter worth approximately $47,000. Exchange Traded Concepts LLC grew its position in Thomson Reuters by 104.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 327 shares of the business services provider’s stock worth $56,000 after purchasing an additional 167 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Thomson Reuters during the 2nd quarter valued at $73,000. 17.31% of the stock is owned by hedge funds and other institutional investors.

About Thomson Reuters

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting 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 to law firms and governments.