BidaskClub lowered 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 Wednesday, July 12th.
Several other equities analysts have also commented on the company. Zacks Investment Research lowered Thomson Reuters Corp from a hold rating to a sell rating in a report on Tuesday, July 4th. Deutsche Bank AG raised Thomson Reuters Corp from a hold rating to a buy rating and raised their price objective for the stock from $44.00 to $50.00 in a report on Monday, June 19th. Macquarie raised Thomson Reuters Corp from a neutral rating to an outperform rating in a report on Thursday, June 15th. BMO Capital Markets raised their price objective on Thomson Reuters Corp from $64.00 to $65.00 and gave the stock an outperform rating in a report on Tuesday, May 2nd. Finally, Royal Bank Of Canada raised their price objective on Thomson Reuters Corp from $43.00 to $44.00 and gave the stock a sector perform rating in a report on Monday, May 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $49.83.
Shares of Thomson Reuters Corp (NYSE:TRI) remained flat at $46.48 on Wednesday. The company’s stock had a trading volume of 1,521,018 shares. The stock has a market capitalization of $33.22 billion, a price-to-earnings ratio of 11.41 and a beta of 0.75. The company’s 50 day moving average price is $46.35 and its 200 day moving average price is $44.49. 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 announced its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.09. The business had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Thomson Reuters Corp had a return on equity of 13.64% and a net margin of 26.81%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the firm earned $0.50 earnings per share. On average, analysts anticipate that Thomson Reuters Corp will post $2.44 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 17th will be paid a $0.345 dividend. The ex-dividend date is Tuesday, August 15th. This represents a $1.38 annualized dividend and a yield of 2.97%. Thomson Reuters Corp’s payout ratio is currently 33.91%.
Thomson Reuters Corp announced that its board has approved a stock buyback program on Wednesday, May 24th that permits the company to repurchase 36,000,000 shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
A number of hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its stake in Thomson Reuters Corp by 175.8% in the fourth quarter. Renaissance Technologies LLC now owns 145,900 shares of the business services provider’s stock valued at $6,379,000 after buying an additional 93,000 shares during the last quarter. A.R.T. Advisors LLC purchased a new stake in Thomson Reuters Corp during the fourth quarter valued at approximately $249,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in Thomson Reuters Corp by 9.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,776 shares of the business services provider’s stock valued at $165,000 after buying an additional 337 shares during the last quarter. Lincluden Management Ltd. boosted its stake in Thomson Reuters Corp by 16.2% in the fourth quarter. Lincluden Management Ltd. now owns 178,320 shares of the business services provider’s stock valued at $7,796,000 after buying an additional 24,835 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in Thomson Reuters Corp by 11.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 115,689 shares of the business services provider’s stock valued at $5,065,000 after buying an additional 11,488 shares during the last quarter. 26.55% of the stock is owned by hedge funds and other institutional investors.
About Thomson Reuters Corp
Thomson Reuters Corporation (Thomson Reuters) is a 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 segment 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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