TD Securities Lowers Thomson Reuters (NYSE:TRI) to Hold

TD Securities cut shares of Thomson Reuters (NYSE:TRI) (TSE:TRI) from a buy rating to a hold rating in a research report released on Wednesday, BenzingaRatingsTable reports. TD Securities currently has $94.00 target price on the business services provider’s stock, up from their prior target price of $92.00.

Other equities analysts have also issued reports about the stock. ValuEngine lowered shares of Thomson Reuters from a strong-buy rating to a buy rating in a research report on Thursday, August 1st. BMO Capital Markets reiterated a hold rating and issued a $95.00 price objective on shares of Thomson Reuters in a research report on Friday, August 2nd. Morgan Stanley lifted their price objective on shares of Thomson Reuters from $66.00 to $67.00 and gave the company an overweight rating in a research report on Monday, April 29th. Credit Suisse Group upgraded shares of Thomson Reuters from a neutral rating to an outperform rating and lifted their price objective for the company from $70.00 to $80.00 in a research report on Monday, July 29th. Finally, National Bank Financial lowered shares of Thomson Reuters from an outperform rating to a sector perform rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $70.59.

NYSE:TRI opened at $65.72 on Wednesday. The firm’s fifty day moving average price is $67.35 and its 200 day moving average price is $61.83. Thomson Reuters has a 1-year low of $46.45 and a 1-year high of $70.93. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.93 and a quick ratio of 1.93. The firm has a market cap of $33.80 billion, a price-to-earnings ratio of 87.63, a price-to-earnings-growth ratio of 3.07 and a beta of 0.54.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.08. Thomson Reuters had a net margin of 69.36% and a return on equity of 5.16%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the firm posted $0.17 EPS. Thomson Reuters’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, analysts expect that Thomson Reuters will post 1.21 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 22nd will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.10 annualized dividend and a dividend yield of 1.67%. Thomson Reuters’s payout ratio is currently 192.00%.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Natixis purchased a new stake in shares of Thomson Reuters during the 2nd quarter worth $317,000. Summit Global Investments purchased a new stake in shares of Thomson Reuters during the 2nd quarter worth $729,000. Voloridge Investment Management LLC boosted its position in shares of Thomson Reuters by 42.0% during the 2nd quarter. Voloridge Investment Management LLC now owns 22,322 shares of the business services provider’s stock worth $1,439,000 after purchasing an additional 6,602 shares in the last quarter. Zacks Investment Management boosted its position in shares of Thomson Reuters by 1.0% during the 2nd quarter. Zacks Investment Management now owns 707,602 shares of the business services provider’s stock worth $45,611,000 after purchasing an additional 6,921 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. boosted its position in shares of Thomson Reuters by 100.0% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 3,572,696 shares of the business services provider’s stock worth $220,932,000 after purchasing an additional 1,786,691 shares in the last quarter. Institutional investors own 19.48% of the company’s stock.

About Thomson Reuters

Thomson Reuters Corporation provides news and information-based tools to professionals worldwide. It operates through five segments: Legal Professionals, Corporates, Tax Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics.

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