Zacks Investment Research Lowers Thomson Reuters Corp (TRI) to Hold
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday.
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. “
A number of other research firms also recently commented on TRI. Royal Bank Of Canada dropped their price target on Thomson Reuters Corp from $48.00 to $47.00 and set a “sector perform” rating for the company in a research note on Thursday. Credit Suisse Group dropped their price target on Thomson Reuters Corp from $52.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday. Deutsche Bank AG boosted their target price on Thomson Reuters Corp from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. BidaskClub downgraded Thomson Reuters Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Morgan Stanley boosted their target price on Thomson Reuters Corp from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday, October 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $52.25.
Thomson Reuters Corp (NYSE TRI) opened at $44.58 on Friday. The company has a market cap of $31,775.76, a P/E ratio of 17.71, a PEG ratio of 2.17 and a beta of 0.74. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.79 and a quick ratio of 0.79.
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results on Wednesday, November 1st. The business services provider reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.10. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. Thomson Reuters Corp had a return on equity of 13.92% and a net margin of 27.20%. Thomson Reuters Corp’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 earnings per share. equities research analysts predict that Thomson Reuters Corp will post 2.46 earnings per share for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in TRI. Ameriprise Financial Inc. grew its holdings in shares of Thomson Reuters Corp by 7.0% during the first quarter. Ameriprise Financial Inc. now owns 35,514 shares of the business services provider’s stock worth $1,535,000 after purchasing an additional 2,312 shares during the last quarter. Teachers Advisors LLC boosted its holdings in Thomson Reuters Corp by 10.7% in the first quarter. Teachers Advisors LLC now owns 356,056 shares of the business services provider’s stock valued at $15,392,000 after acquiring an additional 34,508 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Thomson Reuters Corp by 9.5% in the first quarter. PNC Financial Services Group Inc. now owns 11,392 shares of the business services provider’s stock valued at $492,000 after acquiring an additional 985 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Thomson Reuters Corp by 157.5% in the first quarter. Geode Capital Management LLC now owns 572,389 shares of the business services provider’s stock valued at $24,753,000 after acquiring an additional 350,074 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in Thomson Reuters Corp by 11,279.4% in the first quarter. BlackRock Inc. now owns 3,853,749 shares of the business services provider’s stock valued at $166,597,000 after acquiring an additional 3,819,883 shares during the last quarter. 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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