Piper Jaffray Companies reiterated their hold rating on shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) in a research report released on Thursday morning. Piper Jaffray Companies currently has a $50.00 target price on the business services provider’s stock.

Several other equities research analysts also recently issued reports on the stock. National Bank Financial upgraded shares of Thomson Reuters Corp from a sector perform market weight rating to an outperform market weight rating in a research note on Monday, April 17th. Zacks Investment Research downgraded shares of Thomson Reuters Corp from a hold rating to a sell rating in a research note on Thursday, April 13th. BidaskClub upgraded shares of Thomson Reuters Corp from a hold rating to a buy rating in a research note on Saturday, June 24th. Macquarie upgraded shares of Thomson Reuters Corp from a neutral rating to an outperform rating in a research note on Thursday, June 15th. Finally, Deutsche Bank AG upgraded shares of Thomson Reuters Corp from a hold rating to a buy rating and raised their target price for the company from $44.00 to $50.00 in a research note on Monday, June 19th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $49.83.

Thomson Reuters Corp (TRI) traded down 0.27% during mid-day trading on Thursday, reaching $47.17. The company had a trading volume of 174,196 shares. The stock has a market cap of $34.01 billion, a PE ratio of 11.58 and a beta of 0.75. Thomson Reuters Corp has a 12 month low of $39.23 and a 12 month high of $48.57. The firm’s 50-day moving average price is $46.05 and its 200-day moving average price is $44.34.

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last issued its earnings results on Tuesday, August 1st. The business services provider reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.09. Thomson Reuters Corp had a net margin of 26.81% and a return on equity of 13.64%. The business had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period last year, the business posted $0.50 EPS. Thomson Reuters Corp’s revenue was up .5% on a year-over-year basis. Equities research analysts forecast that Thomson Reuters Corp will post $2.43 EPS for the current fiscal year.

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Thomson Reuters Corp declared that its Board of Directors has approved a stock buyback program on Wednesday, May 24th that allows the company to buyback 36,000,000 outstanding shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 17th will be issued a dividend of $0.345 per share. The ex-dividend date is Tuesday, August 15th. This represents a $1.38 annualized dividend and a dividend yield of 2.92%. Thomson Reuters Corp’s dividend payout ratio is presently 33.91%.

Several hedge funds and other institutional investors have recently made changes to their positions in TRI. UBS Asset Management Americas Inc. boosted its position in shares of Thomson Reuters Corp by 11.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 115,689 shares of the business services provider’s stock valued at $5,065,000 after buying an additional 11,488 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of Thomson Reuters Corp by 6.7% in the fourth quarter. Teachers Advisors LLC now owns 321,548 shares of the business services provider’s stock worth $14,077,000 after buying an additional 20,226 shares during the period. Manning & Napier Advisors LLC boosted its position in shares of Thomson Reuters Corp by 6.0% in the first quarter. Manning & Napier Advisors LLC now owns 94,340 shares of the business services provider’s stock worth $4,077,000 after buying an additional 5,306 shares during the period. Denali Advisors LLC boosted its position in shares of Thomson Reuters Corp by 18.3% in the first quarter. Denali Advisors LLC now owns 67,300 shares of the business services provider’s stock worth $2,909,000 after buying an additional 10,400 shares during the period. Finally, Creative Planning boosted its position in shares of Thomson Reuters Corp by 5.1% in the first quarter. Creative Planning now owns 5,743 shares of the business services provider’s stock worth $248,000 after buying an additional 279 shares during the period. 26.55% of the stock is currently owned by institutional investors.

About Thomson Reuters Corp

Thomson Reuters Corporation (Thomson Reuters) is a 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 segment is a provider of critical news, information and analytics, enabling transactions and connecting communities of trading, investment, financial and corporate professionals.

Analyst Recommendations for Thomson Reuters Corp (NYSE:TRI)

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