Thomson Reuters (NASDAQ:TRI) Shares Down 9.2% – Time to Sell?

Thomson Reuters Corp (NASDAQ:TRI)’s share price fell 9.2% during trading on Wednesday . The company traded as low as $99.20 and last traded at $99.1420. 1,763,910 shares were traded during trading, a decline of 25% from the average daily volume of 2,353,317 shares. The stock had previously closed at $109.15.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TRI shares. Royal Bank Of Canada boosted their price target on shares of Thomson Reuters from $121.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday. Scotiabank restated a “sector outperform” rating and issued a $135.00 price objective on shares of Thomson Reuters in a report on Thursday. Weiss Ratings lowered shares of Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. TD Securities reissued a “buy” rating on shares of Thomson Reuters in a research report on Thursday. Finally, Canaccord Genuity Group dropped their price target on shares of Thomson Reuters from $134.00 to $132.50 and set a “buy” rating for the company in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $142.83.

Thomson Reuters Trading Up 1.6%

The company’s fifty day moving average is $88.91 and its two-hundred day moving average is $93.28. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.11. The stock has a market cap of $44.33 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 1.47 and a beta of 0.75.

Thomson Reuters (NASDAQ:TRI) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.03. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.59%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the firm posted $0.87 EPS. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, research analysts predict that Thomson Reuters Corp will post 4.44 EPS for the current fiscal year.

Thomson Reuters Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $0.655 dividend. This represents a $2.62 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, August 19th. Thomson Reuters’s dividend payout ratio is 69.68%.

Institutional Trading of Thomson Reuters

A number of hedge funds and other institutional investors have recently bought and sold shares of TRI. BlackRock Inc. acquired a new position in shares of Thomson Reuters during the 2nd quarter worth about $91,548,000. Deutsche Bank AG acquired a new stake in shares of Thomson Reuters during the 2nd quarter worth about $27,142,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Thomson Reuters during the second quarter worth approximately $2,933,000. Alberta Investment Management Corp purchased a new stake in Thomson Reuters during the second quarter worth approximately $38,770,000. Finally, Bank of New York Mellon Corp acquired a new position in Thomson Reuters in the second quarter valued at approximately $28,710,000. 17.31% of the stock is currently 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.