Thomson Reuters Corp. (NYSE:TRI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
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. “
TRI has been the topic of several other reports. Barclays PLC reissued an “equal weight” rating and set a $40.00 price target on shares of Thomson Reuters Corp. in a research report on Friday, July 15th. BMO Capital Markets restated an “outperform” rating and set a $60.00 price objective (up from $57.50) on shares of Thomson Reuters Corp. in a report on Monday, August 1st. TD Securities downgraded Thomson Reuters Corp. from a “buy” rating to a “hold” rating in a report on Monday, June 27th. Credit Suisse Group AG restated a “buy” rating on shares of Thomson Reuters Corp. in a report on Tuesday, July 12th. Finally, Macquarie began coverage on Thomson Reuters Corp. in a report on Thursday, August 25th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $48.00.
Shares of Thomson Reuters Corp. (NYSE:TRI) opened at 39.76 on Tuesday. The firm has a market capitalization of $29.65 billion, a P/E ratio of 23.65 and a beta of 0.82. The company’s 50 day moving average price is $41.02 and its 200 day moving average price is $41.31. Thomson Reuters Corp. has a one year low of $33.96 and a one year high of $43.68.
Thomson Reuters Corp. (NYSE:TRI) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.49 by $0.01. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.83 billion. Thomson Reuters Corp. had a return on equity of 12.81% and a net margin of 11.09%. Thomson Reuters Corp.’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 EPS. On average, analysts expect that Thomson Reuters Corp. will post $2.01 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Montrusco Bolton Investments Inc. raised its position in shares of Thomson Reuters Corp. by 361.8% in the second quarter. Montrusco Bolton Investments Inc. now owns 2,191,105 shares of the company’s stock worth $88,187,000 after buying an additional 1,716,626 shares during the period. Emerald Acquisition Ltd. acquired a new position in shares of Thomson Reuters Corp. during the second quarter worth about $32,420,000. Credit Agricole S A raised its position in shares of Thomson Reuters Corp. by 443.7% in the first quarter. Credit Agricole S A now owns 774,986 shares of the company’s stock worth $31,371,000 after buying an additional 632,449 shares during the period. Vanguard Group Inc. raised its position in shares of Thomson Reuters Corp. by 9.9% in the second quarter. Vanguard Group Inc. now owns 6,720,025 shares of the company’s stock worth $271,624,000 after buying an additional 607,976 shares during the period. Finally, Virginia Retirement Systems ET AL acquired a new position in shares of Thomson Reuters Corp. during the second quarter worth about $16,373,000. Institutional investors and hedge funds own 28.76% of the company’s stock.
About Thomson Reuters Corp.
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