Thomson Reuters (NASDAQ:TRI) Shares Up 6% – Should You Buy?

Thomson Reuters Corp (NASDAQ:TRI) shares traded up 6% on Monday . The stock traded as high as $104.87 and last traded at $103.1830. Approximately 407,959 shares changed hands during trading, a decline of 82% from the average session volume of 2,247,468 shares. The stock had previously closed at $97.35.

Analysts Set New Price Targets

Several brokerages recently issued reports on TRI. Canaccord Genuity Group dropped their target price on shares of Thomson Reuters from $134.00 to $132.50 and set a “buy” rating on the stock in a report on Thursday, August 6th. TD Securities reissued a “buy” rating on shares of Thomson Reuters in a report on Thursday, August 6th. Scotia dropped their price target on Thomson Reuters from $138.00 to $135.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 6th. Barclays reduced their price objective on Thomson Reuters from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, September 8th. Finally, Royal Bank Of Canada increased their target price on Thomson Reuters from $121.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.57.

Thomson Reuters Trading Up 8.9%

The firm has a market capitalization of $45.93 billion, a PE ratio of 28.20, a PEG ratio of 1.86 and a beta of 0.74. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.12. The stock’s fifty day simple moving average is $99.67 and its 200 day simple moving average is $93.61.

Thomson Reuters (NASDAQ:TRI) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.03. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter last year, the company posted $0.87 EPS. The company’s revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts predict that Thomson Reuters Corp will post 4.48 earnings per share for the current year.

Thomson Reuters Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were given a dividend of $0.655 per share. The ex-dividend date was Wednesday, August 19th. This represents a $2.62 annualized dividend and a yield of 2.5%. Thomson Reuters’s payout ratio is 69.68%.

Institutional Trading of Thomson Reuters

Hedge funds have recently bought and sold shares of the stock. TLT Family Holdco ULC bought a new position in shares of Thomson Reuters in the second quarter worth about $865,442,000. SEG Family Corp. bought a new position in shares of Thomson Reuters during the 2nd quarter valued at approximately $659,930,000. Invesco Ltd. grew its stake in shares of Thomson Reuters by 461.1% during the 3rd quarter. Invesco Ltd. now owns 2,253,243 shares of the company’s stock valued at $349,996,000 after acquiring an additional 1,851,677 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Thomson Reuters in the 2nd quarter worth approximately $107,223,000. Finally, Bank of America Corp DE purchased a new stake in Thomson Reuters in the 2nd quarter worth approximately $104,104,000. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Company Profile

Thomson Reuters Corporation is a global provider of information, software, and technology solutions for professionals and institutions. Its products and services support legal professionals, corporations, tax and accounting firms, governments, and media organizations, helping customers manage regulatory requirements, research information, analyze data, and improve workflow efficiency.

The company’s offerings include legal research and practice-management solutions, tax and accounting software, corporate compliance and risk-management tools, and products designed for government and regulatory users.