Shares of Thomson Reuters Corp (NASDAQ:TRI – Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $76.55, but opened at $78.93. Thomson Reuters shares last traded at $79.1810, with a volume of 197,108 shares trading hands.
Analyst Ratings Changes
Several research analysts have issued reports on the company. Bank of America dropped their price objective on Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, May 19th. Weiss Ratings downgraded shares of Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. Barclays reaffirmed an “overweight” rating and issued a $130.00 target price (down from $170.00) on shares of Thomson Reuters in a report on Friday, May 8th. Wells Fargo & Company increased their target price on shares of Thomson Reuters from $87.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Argus began coverage on shares of Thomson Reuters in a report on Wednesday, April 22nd. They set a “hold” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.84.
Read Our Latest Analysis on TRI
Thomson Reuters Stock Up 0.3%
Thomson Reuters (NASDAQ:TRI – Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.05. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2 billion. Thomson Reuters had a return on equity of 14.99% and a net margin of 19.93%.The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company posted $1.12 earnings per share. Equities research analysts forecast that Thomson Reuters Corp will post 4.44 earnings per share for the current year.
Thomson Reuters Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were given a $0.655 dividend. This represents a $2.62 annualized dividend and a yield of 3.2%. The ex-dividend date was Wednesday, May 20th. Thomson Reuters’s dividend payout ratio (DPR) is presently 76.16%.
Hedge Funds Weigh In On Thomson Reuters
A number of large investors have recently modified their holdings of the stock. Empowered Funds LLC acquired a new stake in shares of Thomson Reuters in the fourth quarter valued at approximately $30,000. Timmons Wealth Management LLC acquired a new position in Thomson Reuters during the 4th quarter worth $42,000. Montag A & Associates Inc. acquired a new position in Thomson Reuters during the 4th quarter worth $43,000. J.Safra Asset Management Corp bought a new position in Thomson Reuters in the 4th quarter valued at $56,000. Finally, Western Wealth Management LLC bought a new position in Thomson Reuters in the 1st quarter valued at $48,000. 17.31% of the stock is currently owned by institutional investors and hedge funds.
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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