Thomson Reuters Corp (TRI) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) from a hold rating to a buy rating in a report published on Wednesday. Zacks Investment Research currently has $53.00 price target on the business services provider’s stock.
According to Zacks, “Thomson Corporation is a leading provider of value-added information and technology to users in the fields of law, tax, accounting, financial services, higher education, reference information, corporate training and assessment, scientific research and healthcare. “
TRI has been the subject of several other reports. Piper Jaffray Companies reaffirmed a hold rating and set a $50.00 price objective on shares of Thomson Reuters Corp in a research report on Thursday, August 3rd. Royal Bank Of Canada set a $45.00 price objective on shares of Thomson Reuters Corp and gave the stock a hold rating in a research report on Thursday, July 27th. Morgan Stanley lifted their price objective on shares of Thomson Reuters Corp from $51.00 to $52.00 and gave the stock an equal weight rating in a research report on Monday, October 23rd. Scotiabank raised shares of Thomson Reuters Corp from a sector perform rating to an outperform rating and lifted their price objective for the stock from $47.00 to $55.00 in a research report on Tuesday, October 17th. Finally, Deutsche Bank AG lifted their price objective on shares of Thomson Reuters Corp from $50.00 to $55.00 and gave the stock a buy rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $52.25.
Thomson Reuters Corp (NYSE TRI) opened at $44.58 on Wednesday. The stock has a market cap of $31,775.76, a P/E ratio of 17.71, a P/E/G ratio of 2.17 and a beta of 0.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.79 and a current ratio of 0.79.
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Wednesday, November 1st. The business services provider reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.10. Thomson Reuters Corp had a net margin of 27.20% and a return on equity of 13.92%. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter last year, the company posted $0.54 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. analysts anticipate that Thomson Reuters Corp will post 2.46 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 16th will be paid a dividend of $0.345 per share. The ex-dividend date is Wednesday, November 15th. This represents a $1.38 annualized dividend and a yield of 3.10%. Thomson Reuters Corp’s dividend payout ratio is currently 33.09%.
Large investors have recently made changes to their positions in the stock. Huntington National Bank acquired a new stake in Thomson Reuters Corp during the 2nd quarter worth $106,000. ETF Managers Group LLC acquired a new stake in Thomson Reuters Corp during the 2nd quarter worth $127,000. Omnia Family Wealth LLC raised its stake in Thomson Reuters Corp by 0.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 3,538 shares of the business services provider’s stock worth $164,000 after acquiring an additional 10 shares in the last quarter. Beach Investment Management LLC. acquired a new stake in Thomson Reuters Corp during the 2nd quarter worth $203,000. Finally, SG Americas Securities LLC raised its stake in Thomson Reuters Corp by 44.0% during the 2nd quarter. SG Americas Securities LLC now owns 4,900 shares of the business services provider’s stock worth $227,000 after acquiring an additional 1,497 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.
About Thomson Reuters Corp
Thomson Reuters Corporation (Thomson Reuters) is a Canada-based provider of news and information for professional markets. The Company is organized in three business units: Financial & Risk, Legal, and Tax & Accounting. The Financial & Risk unit is a provider of critical news, information and analytics, enabling transactions and connecting communities of trading, investment, financial and corporate professionals.
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