Thomson Reuters (NASDAQ:TRI) Stock Price Down 4.9% – Here’s What Happened

Thomson Reuters Corp (NASDAQ:TRI)’s share price traded down 4.9% during trading on Friday . The stock traded as low as $105.26 and last traded at $106.3330. Approximately 106,494 shares traded hands during trading, a decline of 95% from the average session volume of 2,269,819 shares. The stock had previously closed at $111.76.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays reaffirmed an “overweight” rating and issued a $130.00 price objective (down from $170.00) on shares of Thomson Reuters in a research report on Friday, May 8th. Bank of America reduced their target price on shares of Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 19th. Scotia decreased their target price on shares of Thomson Reuters from $138.00 to $135.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 6th. TD Securities reaffirmed a “buy” rating on shares of Thomson Reuters in a report on Thursday, August 6th. Finally, Royal Bank Of Canada lifted their price target on shares of Thomson Reuters from $121.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $131.57.

Thomson Reuters Stock Down 4.5%

The firm has a fifty day simple moving average of $97.89 and a 200-day simple moving average of $92.99. The company has a market capitalization of $46.48 billion, a PE ratio of 28.35, a P/E/G ratio of 2.04 and a beta of 0.74. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.51 and a current ratio of 0.51.

Thomson Reuters (NASDAQ:TRI) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the company earned $0.87 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. Equities research analysts anticipate that Thomson Reuters Corp will post 4.45 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, August 19th. Thomson Reuters’s dividend payout ratio is 69.68%.

Institutional Investors Weigh In On Thomson Reuters

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Amundi lifted its position in shares of Thomson Reuters by 41.0% during the second quarter. Amundi now owns 564,556 shares of the company’s stock worth $46,107,000 after purchasing an additional 164,034 shares during the last quarter. HighTower Advisors LLC increased its holdings in Thomson Reuters by 8.9% in the second quarter. HighTower Advisors LLC now owns 7,609 shares of the company’s stock valued at $621,000 after buying an additional 625 shares during the last quarter. Concurrent Investment Advisors LLC increased its holdings in Thomson Reuters by 15.0% in the second quarter. Concurrent Investment Advisors LLC now owns 7,063 shares of the company’s stock valued at $577,000 after buying an additional 923 shares during the last quarter. NEOS Investment Management LLC raised its stake in Thomson Reuters by 10.1% during the second quarter. NEOS Investment Management LLC now owns 263,473 shares of the company’s stock valued at $21,518,000 after buying an additional 24,264 shares in the last quarter. Finally, Continuum Advisory LLC acquired a new stake in Thomson Reuters during the second quarter valued at approximately $45,000. 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.