Tower Research Capital LLC TRC boosted its stake in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 99.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,826 shares of the business services provider’s stock after purchasing an additional 6,400 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Thomson Reuters were worth $589,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in TRI. Cerebellum GP LLC acquired a new position in shares of Thomson Reuters in the third quarter valued at $190,000. Beach Investment Counsel Inc. PA acquired a new position in shares of Thomson Reuters in the third quarter valued at $200,000. Laurel Wealth Advisors Inc. acquired a new position in shares of Thomson Reuters in the second quarter valued at $201,000. Marathon Trading Investment Management LLC acquired a new position in shares of Thomson Reuters in the second quarter valued at $202,000. Finally, IFG Advisory LLC acquired a new position in Thomson Reuters during the third quarter worth $205,000. 33.08% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on TRI shares. Zacks Investment Research upgraded Thomson Reuters from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Wednesday, October 17th. Morgan Stanley set a $51.00 target price on Thomson Reuters and gave the company a “buy” rating in a research note on Monday, October 15th. National Bank Financial restated a “buy” rating on shares of Thomson Reuters in a research note on Wednesday, November 7th. TD Securities restated a “buy” rating and issued a $69.00 target price on shares of Thomson Reuters in a research note on Wednesday, November 7th. Finally, ValuEngine upgraded Thomson Reuters from a “hold” rating to a “buy” rating in a research note on Wednesday, September 12th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. Thomson Reuters has an average rating of “Hold” and a consensus target price of $51.36.
Thomson Reuters stock opened at $50.49 on Friday. The stock has a market capitalization of $25.75 billion, a P/E ratio of 18.29, a PEG ratio of 8.51 and a beta of 0.55. Thomson Reuters Corp has a 12-month low of $36.52 and a 12-month high of $51.74. 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 posted its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.07. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Thomson Reuters had a return on equity of 6.10% and a net margin of 16.21%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.27 earnings per share. As a group, equities analysts predict that Thomson Reuters Corp will post 0.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Thursday, November 15th will be issued a $0.35 dividend. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.40 annualized dividend and a yield of 2.77%. Thomson Reuters’s dividend payout ratio (DPR) is currently 55.80%.
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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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