Thomson Reuters Corp (NYSE:TRI) (TSE:TRI)‘s stock had its “hold” rating reissued by research analysts at Piper Jaffray Companies in a report released on Tuesday. They currently have a $50.00 price target on the business services provider’s stock. Piper Jaffray Companies’ price target indicates a potential upside of 10.08% from the stock’s previous close.
TRI has been the topic of several other reports. BidaskClub upgraded shares of Thomson Reuters Corp from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Royal Bank Of Canada set a $45.00 target price on shares of Thomson Reuters Corp and gave the company a “hold” rating in a report on Thursday, July 27th. Scotiabank boosted their target price on shares of Thomson Reuters Corp from $45.00 to $47.00 and gave the company a “sector perform” rating in a report on Wednesday, August 2nd. Zacks Investment Research lowered shares of Thomson Reuters Corp from a “buy” rating to a “hold” rating in a report on Saturday, September 2nd. Finally, TD Securities decreased their target price on shares of Thomson Reuters Corp from $65.00 to $61.00 and set a “hold” rating on the stock in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Thomson Reuters Corp has a consensus rating of “Hold” and an average price target of $50.36.
Shares of Thomson Reuters Corp (NYSE:TRI) opened at 45.42 on Tuesday. Thomson Reuters Corp has a 52 week low of $39.23 and a 52 week high of $48.57. The company has a market cap of $32.46 billion, a P/E ratio of 11.15 and a beta of 0.75. The firm has a 50-day moving average of $46.08 and a 200 day moving average of $44.76.
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last posted its earnings results on Tuesday, August 1st. The business services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.09. The company had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.78 billion. Thomson Reuters Corp had a net margin of 26.81% and a return on equity of 13.64%. Thomson Reuters Corp’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 EPS. Equities analysts expect that Thomson Reuters Corp will post $2.44 EPS for the current fiscal year.
Thomson Reuters Corp declared that its Board of Directors has approved a stock repurchase program on Wednesday, May 24th that authorizes the company to repurchase 36,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
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Several hedge funds have recently modified their holdings of TRI. UBS Asset Management Americas Inc. lifted its holdings in shares of Thomson Reuters Corp by 375.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 550,176 shares of the business services provider’s stock worth $23,784,000 after acquiring an additional 434,487 shares during the last quarter. Meadow Creek Investment Management LLC lifted its holdings in shares of Thomson Reuters Corp by 252.4% in the 1st quarter. Meadow Creek Investment Management LLC now owns 5,808 shares of the business services provider’s stock worth $251,000 after acquiring an additional 4,160 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in Thomson Reuters Corp during the 1st quarter worth approximately $350,000. Ameriprise Financial Inc. increased its stake in Thomson Reuters Corp by 7.0% during the 1st quarter. Ameriprise Financial Inc. now owns 35,514 shares of the business services provider’s stock worth $1,535,000 after buying an additional 2,312 shares during the period. Finally, Parametric Portfolio Associates LLC increased its stake in Thomson Reuters Corp by 31.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 379,988 shares of the business services provider’s stock worth $16,427,000 after buying an additional 90,278 shares during the period. Hedge funds and other institutional investors own 26.15% 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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