BidaskClub Downgrades Thomson Reuters Corp (TRI) to Hold
BidaskClub cut shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) from a buy rating to a hold rating in a research note released on Wednesday, July 12th.
A number of other analysts have also issued reports on TRI. Zacks Investment Research raised Thomson Reuters Corp from a hold rating to a buy rating and set a $48.00 target price on the stock in a research report on Thursday, April 20th. Berenberg Bank assumed coverage on Thomson Reuters Corp in a research report on Thursday, April 20th. They set a sell rating and a $37.00 target price on the stock. Scotiabank lifted their target price on Thomson Reuters Corp from $43.00 to $45.00 and gave the stock a sector perform rating in a research report on Monday, May 1st. Canaccord Genuity lowered Thomson Reuters Corp from a buy rating to a hold rating and set a $47.00 price objective for the company. in a report on Monday, May 1st. Finally, Royal Bank Of Canada boosted their price objective on Thomson Reuters Corp from $43.00 to $44.00 and gave the company a sector perform rating in a report on Monday, May 1st. One equities 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 company’s stock. The company has a consensus rating of Hold and a consensus price target of $49.83.
Thomson Reuters Corp (NYSE:TRI) traded down 0.55% during mid-day trading on Wednesday, reaching $47.02. The company’s stock had a trading volume of 835,784 shares. The stock has a market cap of $33.90 billion, a price-to-earnings ratio of 11.55 and a beta of 0.75. The firm’s 50 day moving average price is $46.25 and its 200 day moving average price is $44.41. 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 earnings results on Tuesday, August 1st. The business services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.09. Thomson Reuters Corp had a return on equity of 13.64% and a net margin of 26.81%. The business had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period in the previous year, the company earned $0.50 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities analysts predict that Thomson Reuters Corp will post $2.43 earnings per share for the current year.
The firm also recently disclosed 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 is Tuesday, August 15th. This represents a $1.38 annualized dividend and a dividend yield of 2.93%. Thomson Reuters Corp’s dividend payout ratio is presently 33.91%.
Thomson Reuters Corp declared that its Board of Directors has initiated a stock buyback program on Wednesday, May 24th that allows the company to buyback 36,000,000 shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
Several institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its stake in Thomson Reuters Corp by 0.4% in the first quarter. Wellington Management Group LLP now owns 11,896,855 shares of the business services provider’s stock worth $514,297,000 after buying an additional 52,932 shares during the period. Bank of Montreal Can increased its stake in Thomson Reuters Corp by 10.7% in the first quarter. Bank of Montreal Can now owns 8,345,670 shares of the business services provider’s stock worth $360,784,000 after buying an additional 806,046 shares during the period. Vanguard Group Inc. increased its stake in Thomson Reuters Corp by 2.7% in the first quarter. Vanguard Group Inc. now owns 7,317,244 shares of the business services provider’s stock worth $316,324,000 after buying an additional 193,354 shares during the period. TD Asset Management Inc. increased its stake in Thomson Reuters Corp by 3.6% in the second quarter. TD Asset Management Inc. now owns 7,155,761 shares of the business services provider’s stock worth $330,813,000 after buying an additional 247,665 shares during the period. Finally, Beutel Goodman & Co Ltd. increased its stake in Thomson Reuters Corp by 4.9% in the first quarter. Beutel Goodman & Co Ltd. now owns 5,057,257 shares of the business services provider’s stock worth $218,332,000 after buying an additional 236,410 shares during the period. Institutional investors and hedge funds own 26.55% of the company’s stock.
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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