Thomson Reuters (NASDAQ:TRI) Downgraded by Wall Street Zen to Sell

Wall Street Zen lowered shares of Thomson Reuters (NASDAQ:TRI) from a hold rating to a sell rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Other analysts have also recently issued research reports about the company. Barclays dropped their target price on Thomson Reuters from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 8th. Jefferies Financial Group started coverage on Thomson Reuters in a research report on Tuesday, October 20th. They issued a “buy” rating and a $130.00 price target for the company. Scotiabank reissued a “sector outperform” rating and issued a $135.00 price target on shares of Thomson Reuters in a research report on Thursday, August 6th. Royal Bank Of Canada upped their price objective on Thomson Reuters from $124.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 28th. Finally, JPMorgan Chase & Co. raised their price objective on Thomson Reuters from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Wednesday. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $128.96.

Thomson Reuters Price Performance

Shares of TRI opened at $112.57 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.51 and a current ratio of 1.08. The company has a 50 day moving average price of $105.91 and a 200-day moving average price of $97.09. Thomson Reuters has a fifty-two week low of $76.28 and a fifty-two week high of $142.04. The stock has a market capitalization of $48.78 billion, a PE ratio of 31.43, a PEG ratio of 2.23 and a beta of 0.69.

Thomson Reuters (NASDAQ:TRI) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.08). The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Thomson Reuters had a net margin of 20.02% and a return on equity of 15.72%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 earnings per share. Equities analysts predict that Thomson Reuters will post 4.33 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be paid a dividend of $0.6550 per share. The ex-dividend date is Wednesday, November 18th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.3%. Thomson Reuters’s payout ratio is presently 73.18%.

Hedge Funds Weigh In On Thomson Reuters

Several hedge funds and other institutional investors have recently modified their holdings of TRI. Bank of America Corp DE increased its stake in Thomson Reuters by 48.7% during the 1st quarter. Bank of America Corp DE now owns 1,627,069 shares of the company’s stock valued at $146,404,000 after purchasing an additional 532,803 shares in the last quarter. TD Waterhouse Canada Inc. lifted its stake in shares of Thomson Reuters by 13.2% during the third quarter. TD Waterhouse Canada Inc. now owns 1,468,484 shares of the company’s stock worth $143,304,000 after buying an additional 171,375 shares during the period. First Trust Advisors LP lifted its stake in shares of Thomson Reuters by 33.3% during the first quarter. First Trust Advisors LP now owns 1,588,756 shares of the company’s stock worth $142,956,000 after buying an additional 397,150 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Thomson Reuters by 65.1% during the first quarter. The Manufacturers Life Insurance Company now owns 1,500,365 shares of the company’s stock valued at $135,297,000 after buying an additional 591,642 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Thomson Reuters during the second quarter valued at $107,223,000. 17.31% of the stock is owned by hedge funds and other institutional investors.

Thomson Reuters Company Profile

Thomson Reuters is a global provider of information, software and services for legal, tax, accounting, compliance, risk and financial professionals. Its products help customers research complex issues, manage workflows and make informed decisions.

Key offerings include Westlaw and Practical Law for legal research and practice management, Checkpoint for tax and accounting research, and ONESOURCE for tax and trade compliance. The company also provides news and information through Reuters, its global news organization.

Thomson Reuters was formed in 2008 through the combination of Thomson Corporation and Reuters Group.