Thomson Reuters Corp (NASDAQ:TRI) Stock Rated “Moderate Buy” by Sell-Side Analysts

Thomson Reuters Corp (NASDAQ:TRI) has been given an average recommendation of “Moderate Buy” by the seventeen research firms that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $130.97.

TRI has been the subject of a number of recent research reports. Barclays lowered their price objective on shares of Thomson Reuters from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, September 8th. Scotiabank reaffirmed a “sector outperform” rating and set a $135.00 target price on shares of Thomson Reuters in a report on Thursday, August 6th. Royal Bank Of Canada lifted their target price on shares of Thomson Reuters from $121.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. TD Securities reiterated a “buy” rating on shares of Thomson Reuters in a research report on Thursday, August 6th. Finally, Canaccord Genuity Group cut their price target on shares of Thomson Reuters from $134.00 to $132.50 and set a “buy” rating for the company in a research report on Thursday, August 6th.

Institutional Investors Weigh In On Thomson Reuters

A number of hedge funds and other institutional investors have recently modified their holdings of TRI. TD Waterhouse Canada Inc. boosted its holdings in Thomson Reuters by 13.2% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,468,484 shares of the company’s stock valued at $143,304,000 after acquiring an additional 171,375 shares during the period. Triasima Portfolio Management inc. purchased a new position in Thomson Reuters in the 3rd quarter worth approximately $2,613,000. Assenagon Asset Management S.A. increased its stake in Thomson Reuters by 17.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,997 shares of the company’s stock worth $487,000 after purchasing an additional 748 shares during the period. Ninety One UK Ltd purchased a new position in Thomson Reuters in the 3rd quarter worth approximately $391,000. Finally, Burkett Asset Management Ltd lifted its position in Thomson Reuters by 1.6% in the third quarter. Burkett Asset Management Ltd now owns 15,627 shares of the company’s stock valued at $1,525,000 after purchasing an additional 253 shares during the last quarter. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Performance

NASDAQ:TRI opened at $109.01 on Tuesday. The business has a 50 day moving average of $102.14 and a 200 day moving average of $93.85. The company has a market capitalization of $47.23 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 2.09 and a beta of 0.75. Thomson Reuters has a 1-year low of $76.28 and a 1-year high of $164.30. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.51 and a quick ratio of 0.51.

Thomson Reuters (NASDAQ:TRI) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.03. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the business earned $0.87 earnings per share. On average, sell-side analysts predict that Thomson Reuters will post 4.48 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were issued a $0.6550 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $2.62 annualized dividend and a dividend yield of 2.4%. Thomson Reuters’s payout ratio is currently 69.68%.

Thomson Reuters Company Profile

Thomson Reuters Corporation is a global content and technology company that provides trusted information, software, and services to professionals and organizations. Its offerings are designed to support legal, tax, accounting, corporate, government, and media customers with research, workflow management, compliance, and decision-making.

The company serves legal professionals through products such as Westlaw, Practical Law, and CoCounsel, its generative artificial intelligence legal assistant.