Goldman Sachs Group began coverage on shares of Thomson Reuters (NYSE:TRI) (TSE:TRI) in a report published on Thursday morning, MarketBeat Ratings reports. The brokerage issued a neutral rating on the business services provider’s stock.
A number of other analysts have also recently issued reports on TRI. Zacks Investment Research upgraded Thomson Reuters from a hold rating to a buy rating and set a $51.00 price objective on the stock in a research report on Wednesday. Royal Bank of Canada boosted their price objective on Thomson Reuters from $44.00 to $45.00 and gave the company an outperform rating in a research report on Tuesday, August 7th. Bank of America restated a neutral rating and set a $48.00 price objective on shares of Thomson Reuters in a research report on Wednesday, October 10th. Morgan Stanley set a $51.00 price objective on Thomson Reuters and gave the company a buy rating in a research report on Monday. Finally, ValuEngine upgraded Thomson Reuters from a hold rating to a buy rating in a research report on Wednesday, September 12th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $46.60.
NYSE TRI traded down $0.25 during trading on Thursday, hitting $46.61. The company’s stock had a trading volume of 87,524 shares, compared to its average volume of 4,642,534. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.41. The company has a market cap of $26.31 billion, a P/E ratio of 18.71, a P/E/G ratio of 10.48 and a beta of 0.66. Thomson Reuters has a 52 week low of $36.52 and a 52 week high of $48.09.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Wednesday, August 8th. The business services provider reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.06. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.31 billion. Thomson Reuters had a return on equity of 9.17% and a net margin of 14.15%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 EPS. Sell-side analysts expect that Thomson Reuters will post 0.64 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Thursday, November 15th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.35. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.00%. Thomson Reuters’s payout ratio is currently 54.98%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TRI. Cornerstone Wealth Management LLC boosted its stake in Thomson Reuters by 17.0% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 135,872 shares of the business services provider’s stock valued at $2,966,000 after buying an additional 19,790 shares in the last quarter. Seven Eight Capital LP boosted its stake in Thomson Reuters by 146.3% in the 3rd quarter. Seven Eight Capital LP now owns 166,162 shares of the business services provider’s stock valued at $7,590,000 after buying an additional 98,700 shares in the last quarter. Aperio Group LLC boosted its stake in Thomson Reuters by 9.9% in the 3rd quarter. Aperio Group LLC now owns 165,510 shares of the business services provider’s stock valued at $7,560,000 after buying an additional 14,857 shares in the last quarter. First American Bank acquired a new stake in Thomson Reuters in the 3rd quarter valued at $3,012,000. Finally, Cerebellum GP LLC acquired a new position in Thomson Reuters in the third quarter worth $190,000. Institutional investors and hedge funds own 22.58% of the company’s stock.
About Thomson Reuters
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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