Thomson Reuters (NASDAQ:TRI) Stock Jumps 6.5% – What’s Next?

Shares of Thomson Reuters Corp (NASDAQ:TRI) shot up 6.5% during mid-day trading on Thursday. The company traded as high as $122.25 and last traded at $122.72. 487,813 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 2,149,547 shares. The stock had previously closed at $115.26.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Scotiabank reaffirmed a “sector outperform” rating and set a $135.00 price objective on shares of Thomson Reuters in a research note on Thursday, August 6th. Morgan Stanley set a $110.00 target price on Thomson Reuters and gave the stock an “equal weight” rating in a research note on Tuesday, October 13th. TD Securities restated a “buy” rating on shares of Thomson Reuters in a report on Thursday, August 6th. Barclays reduced their price target on Thomson Reuters from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, September 8th. Finally, Royal Bank Of Canada upped their price target on Thomson Reuters from $121.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Thomson Reuters has a consensus rating of “Moderate Buy” and a consensus target price of $127.42.

Thomson Reuters Price Performance

The company has a market cap of $53.38 billion, a PE ratio of 32.79, a PEG ratio of 2.36 and a beta of 0.75. The firm’s 50-day moving average is $103.36 and its 200-day moving average is $94.73. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.12.

Thomson Reuters (NASDAQ:TRI) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.96 by $0.03. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. Thomson Reuters’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the business posted $0.87 earnings per share. On average, equities analysts anticipate that Thomson Reuters Corp will post 4.48 EPS for the current year.

Thomson Reuters Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were paid a $0.6550 dividend. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Wednesday, August 19th. Thomson Reuters’s dividend payout ratio (DPR) is presently 69.68%.

Institutional Investors Weigh In On Thomson Reuters

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board bought a new stake in Thomson Reuters in the second quarter worth $107,223,000. Bank of America Corp DE purchased a new stake in shares of Thomson Reuters in the second quarter worth $104,104,000. The Manufacturers Life Insurance Company bought a new position in shares of Thomson Reuters during the second quarter valued at $102,215,000. Cibc World Market Inc. bought a new position in shares of Thomson Reuters during the second quarter valued at $100,711,000. Finally, BlackRock Inc. bought a new position in shares of Thomson Reuters during the second quarter valued at $91,548,000. 17.31% of the stock is owned by hedge funds and other institutional investors.

About Thomson Reuters

Thomson Reuters is a global provider of information, software and technology solutions for professionals and institutions. The company serves customers in the legal, tax, accounting, audit, corporate, government, risk and compliance sectors, as well as the media industry. Its offerings combine authoritative content with workflow tools, data analytics and artificial intelligence.

Key products and services include Westlaw and Practical Law for legal research and practice management; Checkpoint and ONESOURCE for tax and accounting professionals; Confirmation for audit-related workflows; and CoCounsel, an AI-assisted legal technology platform.