Thomson Reuters Corp (NASDAQ:TRI – Get Free Report) shares saw strong trading volume on Tuesday . Approximately 4,874,060 shares traded hands during trading, an increase of 111% from the previous session’s volume of 2,307,919 shares.The stock last traded at $101.3120 and had previously closed at $99.06.
Analysts Set New Price Targets
TRI has been the subject of a number of recent research reports. UBS Group set a $185.74 price objective on Thomson Reuters and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Canaccord Genuity Group decreased their price objective on shares of Thomson Reuters from $134.00 to $132.50 and set a “buy” rating for the company in a research note on Thursday, August 6th. Argus started coverage on shares of Thomson Reuters in a research note on Wednesday, April 22nd. They set a “hold” rating for the company. Scotiabank reissued a “sector outperform” rating and issued a $135.00 target price on shares of Thomson Reuters in a research report on Thursday, August 6th. Finally, Weiss Ratings lowered shares of Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Thomson Reuters presently has a consensus rating of “Moderate Buy” and an average price target of $142.83.
View Our Latest Stock Report on Thomson Reuters
Thomson Reuters Trading Up 4.0%
Thomson Reuters (NASDAQ:TRI – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.89 billion. Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%.The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned $0.87 EPS. Research analysts predict that Thomson Reuters Corp will post 4.45 EPS for the current fiscal year.
Thomson Reuters Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a $0.655 dividend. This represents a $2.62 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Thomson Reuters’s payout ratio is 69.68%.
Hedge Funds Weigh In On Thomson Reuters
Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Thomson Reuters by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 5,776,640 shares of the company’s stock worth $762,320,000 after purchasing an additional 85,684 shares in the last quarter. TD Asset Management Inc boosted its holdings in Thomson Reuters by 0.7% during the fourth quarter. TD Asset Management Inc now owns 4,664,372 shares of the company’s stock valued at $616,342,000 after purchasing an additional 33,418 shares in the last quarter. TLT Family Holdco ULC bought a new stake in shares of Thomson Reuters in the 2nd quarter valued at approximately $865,442,000. SEG Family Corp. acquired a new position in shares of Thomson Reuters in the 2nd quarter worth approximately $659,930,000. Finally, Morgan Stanley raised its holdings in shares of Thomson Reuters by 31.2% in the 4th quarter. Morgan Stanley now owns 2,802,312 shares of the company’s stock worth $369,597,000 after buying an additional 665,743 shares in the last quarter. 17.31% of the stock is owned by institutional investors.
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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