Thomson Reuters (NASDAQ:TRI) Trading Up 7.2% – Here’s What Happened

Thomson Reuters Corp (NASDAQ:TRI) rose 7.2% during trading on Monday . The stock traded as high as $95.34 and last traded at $96.6130. Approximately 352,521 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 2,304,307 shares. The stock had previously closed at $90.15.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TRI. TD Securities restated a “buy” rating on shares of Thomson Reuters in a research report on Wednesday, May 6th. Weiss Ratings downgraded shares of Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. UBS Group set a $185.74 price target on Thomson Reuters and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Argus began coverage on Thomson Reuters in a report on Wednesday, April 22nd. They issued a “hold” rating on the stock. Finally, Scotiabank set a $138.00 price objective on Thomson Reuters and gave the company a “sector outperform” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $143.92.

Thomson Reuters Trading Up 5.7%

The company has a market cap of $44.99 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 1.45 and a beta of 0.77. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.60 and a quick ratio of 0.60. The business’s 50-day simple moving average is $86.52 and its 200-day simple moving average is $94.62.

Thomson Reuters (NASDAQ:TRI) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.18 by $0.05. Thomson Reuters had a net margin of 19.93% and a return on equity of 14.99%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2 billion. During the same period in the prior year, the business earned $1.12 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Research analysts predict that Thomson Reuters Corp will post 4.44 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Wednesday, May 20th. Thomson Reuters’s dividend payout ratio is 76.16%.

Hedge Funds Weigh In On Thomson Reuters

A number of institutional investors have recently made changes to their positions in TRI. Public Sector Pension Investment Board boosted its stake in shares of Thomson Reuters by 0.8% during the second quarter. Public Sector Pension Investment Board now owns 13,098 shares of the company’s stock valued at $2,629,000 after acquiring an additional 100 shares during the last quarter. Evergreen Capital Management LLC grew its holdings in shares of Thomson Reuters by 1.8% during the fourth quarter. Evergreen Capital Management LLC now owns 5,743 shares of the company’s stock worth $757,000 after buying an additional 101 shares in the last quarter. Natixis Advisors LLC raised its position in shares of Thomson Reuters by 0.6% in the third quarter. Natixis Advisors LLC now owns 16,424 shares of the company’s stock valued at $2,551,000 after buying an additional 103 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Thomson Reuters by 1.3% during the first quarter. PNC Financial Services Group Inc. now owns 9,834 shares of the company’s stock valued at $885,000 after buying an additional 130 shares during the period. Finally, Kestra Advisory Services LLC lifted its stake in shares of Thomson Reuters by 1.4% during the first quarter. Kestra Advisory Services LLC now owns 9,682 shares of the company’s stock valued at $871,000 after buying an additional 134 shares during the period. 17.31% of the stock is owned by institutional investors and hedge funds.

About Thomson Reuters

Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies real‐time journalism to media organizations worldwide.

Formed in 2008 through the merger of Canada’s Thomson Corporation (founded in 1934) and the UK’s Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.