Zacks Investment Research upgraded shares of Thomson Reuters (NYSE:TRI) (TSE:TRI) from a strong sell rating to a hold rating in a report published on Thursday.
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. “
A number of other research analysts also recently commented on the stock. National Bank Financial downgraded shares of Thomson Reuters from an outperform rating to a sector perform rating in a report on Wednesday, January 31st. Edward Jones downgraded shares of Thomson Reuters from a buy rating to a hold rating in a report on Thursday, February 1st. Royal Bank of Canada reaffirmed a hold rating and issued a $48.00 price target on shares of Thomson Reuters in a report on Wednesday, January 24th. Credit Suisse Group reaffirmed a hold rating on shares of Thomson Reuters in a report on Friday, February 9th. Finally, Morgan Stanley decreased their price objective on shares of Thomson Reuters from $49.00 to $47.00 and set an equal weight rating for the company in a research note on Friday, February 9th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $50.23.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. Thomson Reuters had a net margin of 12.31% and a return on equity of 13.61%. The firm had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter last year, the firm earned $0.60 EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. equities analysts forecast that Thomson Reuters will post 1.89 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, February 22nd were paid a $0.345 dividend. This represents a $1.38 annualized dividend and a yield of 3.49%. The ex-dividend date was Wednesday, February 21st. Thomson Reuters’s payout ratio is currently 54.98%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cerebellum GP LLC bought a new stake in shares of Thomson Reuters during the fourth quarter valued at approximately $125,000. Elkfork Partners LLC bought a new stake in shares of Thomson Reuters during the fourth quarter valued at approximately $126,000. Jackson Grant Investment Advisers Inc. raised its stake in shares of Thomson Reuters by 85.9% during the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 4,005 shares of the business services provider’s stock valued at $175,000 after acquiring an additional 1,851 shares in the last quarter. IFG Advisory LLC bought a new stake in shares of Thomson Reuters during the fourth quarter valued at approximately $200,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of Thomson Reuters during the third quarter valued at approximately $216,000. 25.60% of the stock is owned by institutional investors and hedge funds.
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Thomson Reuters Company Profile
Thomson Reuters Corp (Thomson Reuters) is a Canada-based provider of news and information for professional markets. The Company is organized in three business units: Financial & Risk, Legal, and Tax & Accounting. The Financial & Risk unit is a provider of critical news, information and analytics, enabling transactions and connecting communities of trading, investment, financial and corporate professionals.
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