Thomson Reuters (TRI) Downgraded by Canaccord Genuity to Hold

Thomson Reuters (NYSE:TRI) (TSE:TRI) was downgraded by stock analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, MarketBeat reports. They currently have a $52.00 price objective on the business services provider’s stock, up from their previous price objective of $50.00. Canaccord Genuity’s price target points to a potential upside of 1.98% from the company’s current price.

Several other research analysts have also issued reports on the stock. Goldman Sachs Group started coverage on shares of Thomson Reuters in a research report on Thursday, October 18th. They issued a “neutral” rating on the stock. Morgan Stanley set a $51.00 price target on shares of Thomson Reuters and gave the stock a “buy” rating in a research report on Monday, October 15th. ValuEngine upgraded shares of Thomson Reuters from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. TD Securities restated a “buy” rating and issued a $69.00 price target on shares of Thomson Reuters in a research report on Wednesday, November 7th. Finally, Royal Bank of Canada restated a “buy” rating on shares of Thomson Reuters in a research report on Thursday, November 8th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Thomson Reuters currently has an average rating of “Hold” and a consensus target price of $51.00.

Shares of NYSE:TRI opened at $50.99 on Wednesday. Thomson Reuters has a 12 month low of $36.52 and a 12 month high of $51.74. The company has a market cap of $25.75 billion, a P/E ratio of 18.47, a PEG ratio of 8.25 and a beta of 0.55. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.39.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Tuesday, November 6th. The business services provider reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.07. Thomson Reuters had a return on equity of 6.10% and a net margin of 16.21%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the company earned $0.27 earnings per share. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, analysts anticipate that Thomson Reuters will post 0.69 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Aperio Group LLC grew its position in Thomson Reuters by 3.6% during the 2nd quarter. Aperio Group LLC now owns 150,653 shares of the business services provider’s stock worth $6,074,000 after purchasing an additional 5,293 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Thomson Reuters by 2.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 921,103 shares of the business services provider’s stock worth $37,173,000 after purchasing an additional 18,092 shares in the last quarter. State of Wisconsin Investment Board grew its position in Thomson Reuters by 14.3% during the 2nd quarter. State of Wisconsin Investment Board now owns 196,347 shares of the business services provider’s stock worth $7,918,000 after purchasing an additional 24,600 shares in the last quarter. Tobam grew its position in Thomson Reuters by 151.1% during the 2nd quarter. Tobam now owns 261,100 shares of the business services provider’s stock worth $10,530,000 after purchasing an additional 157,100 shares in the last quarter. Finally, Global Financial Private Capital LLC purchased a new position in Thomson Reuters during the 2nd quarter worth approximately $328,000. Hedge funds and other institutional investors own 33.08% 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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