Canaccord Genuity Downgrades Thomson Reuters (TRI) to Hold
Canaccord Genuity lowered shares of Thomson Reuters (NYSE:TRI) (TSE:TRI) from a buy rating to a hold rating in a report issued on Wednesday morning, MarketBeat reports. They currently have $52.00 target price on the business services provider’s stock, up from their prior target price of $50.00.
A number of other research firms also recently issued reports on TRI. TD Securities reaffirmed a buy rating and set a $69.00 price objective on shares of Thomson Reuters in a report on Wednesday, November 7th. Piper Jaffray Companies reaffirmed a hold rating on shares of Thomson Reuters in a report on Wednesday, November 7th. Royal Bank of Canada lifted their price objective on shares of Thomson Reuters from $47.00 to $50.00 and gave the stock an outperform rating in a report on Wednesday, November 7th. National Bank Financial reaffirmed a buy rating on shares of Thomson Reuters in a report on Wednesday, November 7th. Finally, Morgan Stanley set a $53.00 price objective on shares of Thomson Reuters and gave the stock a buy rating in a report on Wednesday, November 7th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $51.36.
NYSE TRI opened at $50.49 on Wednesday. Thomson Reuters has a 52-week low of $36.52 and a 52-week high of $51.74. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. The firm has a market cap of $25.75 billion, a PE ratio of 18.29, a P/E/G ratio of 8.25 and a beta of 0.55.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Thursday, November 15th will be issued a dividend of $0.35 per share. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.35. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Wednesday, November 14th. Thomson Reuters’s payout ratio is currently 55.80%.
Institutional investors have recently bought and sold shares of the business. Cerebellum GP LLC bought a new stake in Thomson Reuters in the third quarter worth $190,000. Beach Investment Counsel Inc. PA bought a new stake in Thomson Reuters in the third quarter worth $200,000. IFG Advisory LLC bought a new stake in Thomson Reuters in the third quarter worth $205,000. CLARET ASSET MANAGEMENT Corp bought a new stake in Thomson Reuters in the third quarter worth $226,000. Finally, Laurel Wealth Advisors Inc. bought a new stake in Thomson Reuters in the second quarter worth $201,000. 33.08% of the stock is owned by institutional investors and hedge funds.
Thomson Reuters Company Profile
Thomson Reuters Corporation provides news and information for professional markets worldwide. The company operates through three segments: Financial & Risk, Legal, and Tax & Accounting. It sells electronic content and services to professionals primarily on a subscription basis. The Financial & Risk segment offers critical news, information, and analytics enabling transactions and connecting communities of trading, investment, financial, and corporate professionals.
Recommended Story: Initial Public Offering (IPO)
Receive News & Ratings for Thomson Reuters Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thomson Reuters and related companies with MarketBeat.com's FREE daily email newsletter.