Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Thomson Corporation is a leading provider of value-added information and technology to users in the fields of law, tax, accounting, financial services, higher education, reference information, corporate training and assessment, scientific research and healthcare. “
A number of other research analysts also recently issued reports on TRI. Macquarie upgraded shares of Thomson Reuters Corp from a “neutral” rating to an “outperform” rating in a research note on Thursday, June 15th. Deutsche Bank AG raised shares of Thomson Reuters Corp from a “hold” rating to a “buy” rating and increased their price objective for the company from $44.00 to $50.00 in a research report on Monday, June 19th. BidaskClub raised shares of Thomson Reuters Corp from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Morgan Stanley reissued an “equal weight” rating and issued a $49.00 price objective (up from $48.00) on shares of Thomson Reuters Corp in a research report on Tuesday, July 18th. Finally, TD Securities reduced their price objective on shares of Thomson Reuters Corp from $65.00 to $61.00 and set a “hold” rating on the stock in a report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. Thomson Reuters Corp presently has a consensus rating of “Hold” and an average target price of $51.00.
Thomson Reuters Corp (NYSE:TRI) traded up 0.76% during mid-day trading on Wednesday, hitting $46.46. 371,763 shares of the stock were exchanged. Thomson Reuters Corp has a 12-month low of $39.23 and a 12-month high of $48.57. The company has a 50 day moving average of $45.71 and a 200 day moving average of $44.97. The firm has a market cap of $33.21 billion, a P/E ratio of 11.41 and a beta of 0.75.
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.60 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 during the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the company posted $0.50 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities analysts anticipate that Thomson Reuters Corp will post $2.44 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Thomson Reuters Corp by 11,279.4% in the first quarter. BlackRock Inc. now owns 3,853,749 shares of the business services provider’s stock valued at $166,597,000 after acquiring an additional 3,819,883 shares in the last quarter. CIBC World Markets Inc. grew its holdings in shares of Thomson Reuters Corp by 112.8% during the second quarter. CIBC World Markets Inc. now owns 4,066,504 shares of the business services provider’s stock worth $188,238,000 after purchasing an additional 2,155,229 shares during the last quarter. FMR LLC grew its holdings in shares of Thomson Reuters Corp by 73.8% during the second quarter. FMR LLC now owns 3,320,519 shares of the business services provider’s stock worth $153,736,000 after purchasing an additional 1,409,777 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Thomson Reuters Corp by 943.3% during the first quarter. Renaissance Technologies LLC now owns 1,522,200 shares of the business services provider’s stock worth $65,809,000 after purchasing an additional 1,376,300 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Thomson Reuters Corp by 70.1% during the second quarter. Goldman Sachs Group Inc. now owns 2,827,001 shares of the business services provider’s stock worth $130,862,000 after purchasing an additional 1,164,780 shares during the last quarter. 26.15% of the stock is owned by hedge funds and other institutional investors.
About Thomson Reuters Corp
Thomson Reuters Corporation (Thomson Reuters) is a Canada-based 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 unit 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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