Thomson Reuters (NASDAQ:TRI) Shares Up 5.1% – Time to Buy?

Thomson Reuters Corp (NASDAQ:TRI)’s share price traded up 5.1% during mid-day trading on Tuesday . The stock traded as high as $92.36 and last traded at $92.3410. Approximately 173,740 shares were traded during trading, a decline of 93% from the average daily volume of 2,335,102 shares. The stock had previously closed at $87.86.

Analyst Ratings Changes

A number of brokerages recently weighed in on TRI. Scotiabank set a $138.00 target price on shares of Thomson Reuters and gave the stock a “sector outperform” rating in a research report on Wednesday, May 6th. Wells Fargo & Company set a $85.00 price objective on shares of Thomson Reuters and gave the company an “equal weight” rating in a report on Tuesday, June 30th. Barclays restated an “overweight” rating and set a $130.00 price objective (down from $170.00) on shares of Thomson Reuters in a research report on Friday, May 8th. Weiss Ratings downgraded Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. Finally, TD Securities reissued a “buy” rating on shares of Thomson Reuters in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $143.92.

Thomson Reuters Stock Up 4.3%

The company has a debt-to-equity ratio of 0.11, a current ratio of 0.60 and a quick ratio of 0.60. The company’s 50-day simple moving average is $85.53 and its 200 day simple moving average is $99.20. The firm has a market cap of $39.96 billion, a P/E ratio of 26.64, a price-to-earnings-growth ratio of 1.33 and a beta of 0.77.

Thomson Reuters (NASDAQ:TRI) last posted its earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.05. Thomson Reuters had a net margin of 19.93% and a return on equity of 14.99%. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2 billion. During the same period in the previous year, the firm posted $1.12 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. Research analysts anticipate that Thomson Reuters Corp will post 4.44 EPS for the current fiscal year.

Thomson Reuters Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a $0.655 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $2.62 annualized dividend and a yield of 2.9%. Thomson Reuters’s dividend payout ratio (DPR) is currently 76.16%.

Institutional Investors Weigh In On Thomson Reuters

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRI. First National Bank of Mount Dora Trust Investment Services raised its holdings in Thomson Reuters by 12.5% during the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 45,844 shares of the company’s stock valued at $4,125,000 after buying an additional 5,094 shares during the period. NewEdge Advisors LLC lifted its position in Thomson Reuters by 9.7% in the first quarter. NewEdge Advisors LLC now owns 5,280 shares of the company’s stock worth $475,000 after buying an additional 469 shares during the last quarter. Western Wealth Management LLC purchased a new position in Thomson Reuters during the first quarter worth $48,000. Bank of America Corp DE increased its position in Thomson Reuters by 48.7% during the first quarter. Bank of America Corp DE now owns 1,627,069 shares of the company’s stock valued at $146,404,000 after acquiring an additional 532,803 shares during the last quarter. Finally, Arkadios Wealth Advisors bought a new position in Thomson Reuters during the first quarter valued at $1,775,000. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

About Thomson Reuters

Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies real?time journalism to media organizations worldwide.

Formed in 2008 through the merger of Canada’s Thomson Corporation (founded in 1934) and the UK’s Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.