Morgan Stanley upgraded shares of Thomson Reuters (NYSE:TRI) (TSE:TRI) from an equal weight rating to an overweight rating in a research report sent to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has $52.00 price objective on the business services provider’s stock.
Other research analysts have also recently issued research reports about the company. Canaccord Genuity reissued a buy rating and issued a $50.00 target price on shares of Thomson Reuters in a research note on Wednesday, September 5th. Zacks Investment Research raised Thomson Reuters from a hold rating to a buy rating and set a $43.00 target price on the stock in a research note on Wednesday, May 16th. Royal Bank of Canada upped their price target on shares of Thomson Reuters from $45.00 to $47.00 and gave the company an outperform rating in a research report on Wednesday, August 29th. Piper Jaffray Companies upped their price target on shares of Thomson Reuters to $45.00 and gave the company a neutral rating in a research report on Thursday, June 14th. Finally, ValuEngine upgraded shares of Thomson Reuters from a hold rating to a buy rating in a research report on Wednesday, September 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. Thomson Reuters presently has a consensus rating of Hold and a consensus target price of $46.00.
TRI opened at $45.52 on Thursday. The firm has a market capitalization of $31.77 billion, a P/E ratio of 18.14, a PEG ratio of 12.81 and a beta of 0.68. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.41. Thomson Reuters has a 52 week low of $36.52 and a 52 week high of $48.61.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its earnings results on Wednesday, August 8th. The business services provider reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.06. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Thomson Reuters had a return on equity of 9.17% and a net margin of 14.15%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 earnings per share. sell-side analysts anticipate that Thomson Reuters will post 0.64 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Thursday, August 16th will be given a dividend of $0.345 per share. The ex-dividend date of this dividend is Wednesday, August 15th. This represents a $1.38 annualized dividend and a yield of 3.03%. Thomson Reuters’s payout ratio is 54.98%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank boosted its position in Thomson Reuters by 80.1% during the second quarter. Toronto Dominion Bank now owns 1,845,888 shares of the business services provider’s stock valued at $74,758,000 after buying an additional 821,146 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Thomson Reuters by 210.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,742,479 shares of the business services provider’s stock worth $352,496,000 after purchasing an additional 5,923,592 shares during the period. Commonwealth Bank of Australia boosted its holdings in shares of Thomson Reuters by 28.5% during the second quarter. Commonwealth Bank of Australia now owns 102,187 shares of the business services provider’s stock worth $4,080,000 after purchasing an additional 22,684 shares during the period. Nisa Investment Advisors LLC purchased a new stake in shares of Thomson Reuters during the second quarter worth about $797,000. Finally, Intact Investment Management Inc. boosted its holdings in shares of Thomson Reuters by 27.4% during the second quarter. Intact Investment Management Inc. now owns 1,085,948 shares of the business services provider’s stock worth $57,588,000 after purchasing an additional 233,700 shares during the period. Institutional investors and hedge funds own 22.61% of the company’s stock.
Thomson Reuters Company Profile
Thomson Reuters Corporation provides news and information for professional markets worldwide. The company operates through three segments: Financial & Risk, Legal, and Tax & Accounting. It sells electronic content and services to professionals primarily on a subscription basis. The Financial & Risk segment offers critical news, information, and analytics enabling transactions and connecting communities of trading, investment, financial, and corporate professionals.
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