Thomson Reuters (NASDAQ:TRI) Trading Up 5.1% – Time to Buy?

Shares of Thomson Reuters Corp (NASDAQ:TRI) rose 5.1% during trading on Tuesday . The company traded as high as $92.36 and last traded at $92.3410. Approximately 173,740 shares were traded during trading, a decline of 93% from the average session volume of 2,335,102 shares. The stock had previously closed at $87.86.

Analysts Set New Price Targets

TRI has been the topic of a number of recent analyst reports. Bank of America reduced their price objective 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. TD Securities restated a “buy” rating on shares of Thomson Reuters in a research report on Wednesday, May 6th. Barclays reaffirmed an “overweight” rating and set a $130.00 target price (down from $170.00) on shares of Thomson Reuters in a research note on Friday, May 8th. Argus initiated coverage on Thomson Reuters in a research note on Wednesday, April 22nd. They set a “hold” rating for the company. Finally, UBS Group set a $185.74 price objective on Thomson Reuters and gave the company a “buy” rating in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $143.92.

Thomson Reuters Stock Up 4.3%

The business’s fifty day moving average is $85.53 and its two-hundred day moving average is $99.20. The company has a market cap of $39.96 billion, a P/E ratio of 26.64, a price-to-earnings-growth ratio of 1.33 and a beta of 0.77. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.60 and a current ratio of 0.60.

Thomson Reuters (NASDAQ:TRI) last issued its earnings results on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.05. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2 billion. Thomson Reuters had a net margin of 19.93% and a return on equity of 14.99%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 EPS. Equities analysts predict that Thomson Reuters Corp will post 4.44 EPS for the current year.

Thomson Reuters Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a yield of 2.9%. The ex-dividend date was Wednesday, May 20th. Thomson Reuters’s dividend payout ratio (DPR) is presently 76.16%.

Institutional Investors Weigh In On Thomson Reuters

Hedge funds have recently made changes to their positions in the company. First National Bank of Mount Dora Trust Investment Services grew its position in shares of Thomson Reuters by 12.5% during the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 45,844 shares of the company’s stock worth $4,125,000 after buying an additional 5,094 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Thomson Reuters by 9.7% in the first quarter. NewEdge Advisors LLC now owns 5,280 shares of the company’s stock valued at $475,000 after acquiring an additional 469 shares in the last quarter. Western Wealth Management LLC purchased a new stake in Thomson Reuters in the first quarter worth about $48,000. Bank of America Corp DE lifted its stake in Thomson Reuters by 48.7% in the first quarter. Bank of America Corp DE now owns 1,627,069 shares of the company’s stock worth $146,404,000 after acquiring an additional 532,803 shares during the period. Finally, Arkadios Wealth Advisors bought a new position in Thomson Reuters during the 1st quarter worth about $1,775,000. 17.31% of the stock is currently owned by hedge funds and other 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.