Thomson Reuters (NASDAQ:TRI) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Thomson Reuters (NASDAQ:TRI) from a hold rating to a sell rating in a report issued on Saturday,Wall Street Zen reports.

TRI has been the subject of a number of other research reports. Jefferies Financial Group began coverage on shares of Thomson Reuters in a research report on Tuesday, October 20th. They issued a “buy” rating and a $130.00 price objective for the company. Weiss Ratings upgraded Thomson Reuters from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 15th. Scotia reduced their target price on Thomson Reuters from $138.00 to $135.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 6th. Canaccord Genuity Group boosted their target price on Thomson Reuters from $129.50 to $130.50 and gave the company a “buy” rating in a research note on Wednesday, November 4th. Finally, RBC Dominion Securities increased their price target on Thomson Reuters from $124.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, October 28th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Thomson Reuters presently has a consensus rating of “Moderate Buy” and an average price target of $128.96.

Thomson Reuters Stock Down 3.8%

Shares of Thomson Reuters stock opened at $108.30 on Friday. The business has a fifty day simple moving average of $105.95 and a 200 day simple moving average of $97.02. The stock has a market cap of $46.93 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 2.26 and a beta of 0.69. The company has a quick ratio of 0.51, a current ratio of 1.08 and a debt-to-equity ratio of 0.29. Thomson Reuters has a 12 month low of $76.28 and a 12 month high of $142.04.

Thomson Reuters (NASDAQ:TRI) last released its earnings results on Tuesday, November 3rd. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.08). The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.80 billion. Thomson Reuters had a net margin of 20.02% and a return on equity of 15.72%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS. Research analysts predict that Thomson Reuters will post 4.33 EPS for the current year.

Thomson Reuters Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be issued a dividend of $0.6550 per share. This represents a $2.62 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Wednesday, November 18th. Thomson Reuters’s dividend payout ratio is 73.18%.

Institutional Trading of Thomson Reuters

A number of institutional investors have recently modified their holdings of TRI. Danske Bank A S bought a new stake in Thomson Reuters in the 3rd quarter valued at approximately $28,000. Continuum Advisory LLC bought a new position in shares of Thomson Reuters during the 2nd quarter worth approximately $45,000. Western Wealth Management LLC bought a new position in shares of Thomson Reuters during the 1st quarter worth approximately $48,000. GK Wealth Management LLC acquired a new stake in shares of Thomson Reuters in the third quarter valued at approximately $53,000. Finally, Westside Investment Management Inc. raised its holdings in shares of Thomson Reuters by 80.7% in the third quarter. Westside Investment Management Inc. now owns 600 shares of the company’s stock valued at $59,000 after purchasing an additional 268 shares during the last quarter. 17.31% of the stock is currently owned by institutional investors.

Thomson Reuters Company Profile

Thomson Reuters is a global provider of information, software and services for legal, tax, accounting, compliance, risk and financial professionals. Its products help customers research complex issues, manage workflows and make informed decisions.

Key offerings include Westlaw and Practical Law for legal research and practice management, Checkpoint for tax and accounting research, and ONESOURCE for tax and trade compliance. The company also provides news and information through Reuters, its global news organization.

Thomson Reuters was formed in 2008 through the combination of Thomson Corporation and Reuters Group.