Thomson Reuters Corp (NASDAQ:TRI – Get Free Report)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $79.60 and last traded at $79.82, with a volume of 486925 shares trading hands. The stock had previously closed at $82.03.
Wall Street Analyst Weigh In
TRI has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their target price on shares of Thomson Reuters from $87.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Scotiabank set a $138.00 target price on shares of Thomson Reuters and gave the company a “sector outperform” rating in a report on Wednesday, May 6th. BMO Capital Markets set a $167.47 price objective on Thomson Reuters in a research note on Friday, February 6th. Barclays reissued an “overweight” rating and set a $130.00 target price (down from $170.00) on shares of Thomson Reuters in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. cut their price target on shares of Thomson Reuters from $162.40 to $101.50 and set a “neutral” rating on the stock in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Thomson Reuters currently has an average rating of “Moderate Buy” and a consensus price target of $146.28.
View Our Latest Research Report on TRI
Thomson Reuters Price Performance
Thomson Reuters (NASDAQ:TRI – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.18 by $0.05. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2 billion. Thomson Reuters had a net margin of 19.93% and a return on equity of 14.99%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.12 earnings per share. Equities research analysts expect that Thomson Reuters Corp will post 4.44 EPS for the current year.
Thomson Reuters Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be issued a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Wednesday, May 20th. Thomson Reuters’s dividend payout ratio is presently 77.33%.
Institutional Trading of Thomson Reuters
A number of institutional investors have recently modified their holdings of TRI. Empowered Funds LLC acquired a new position in shares of Thomson Reuters during the 4th quarter valued at $30,000. Cullen Frost Bankers Inc. raised its holdings in shares of Thomson Reuters by 50.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 249 shares of the company’s stock valued at $39,000 after buying an additional 83 shares during the period. Timmons Wealth Management LLC acquired a new position in Thomson Reuters during the 4th quarter worth approximately $42,000. Montag A & Associates Inc. acquired a new stake in Thomson Reuters in the fourth quarter valued at approximately $43,000. Finally, Westside Investment Management Inc. lifted its holdings in Thomson Reuters by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 338 shares of the company’s stock worth $52,000 after buying an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.
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.
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