Thomson Reuters (NYSE:TRI) Hits New 52-Week Low – Here’s Why

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $120.34 and last traded at $121.03, with a volume of 1469181 shares changing hands. The stock had previously closed at $124.02.

Wall Street Analysts Forecast Growth

TRI has been the subject of several recent research reports. Wells Fargo & Company reduced their price objective on Thomson Reuters from $212.00 to $160.00 and set an “overweight” rating for the company in a research report on Wednesday, January 14th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Thomson Reuters in a research report on Wednesday, November 5th. CIBC set a $183.00 price objective on shares of Thomson Reuters and gave the company an “outperformer” rating in a report on Friday. JPMorgan Chase & Co. cut their price objective on shares of Thomson Reuters from $178.00 to $160.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Finally, The Goldman Sachs Group set a $186.00 target price on shares of Thomson Reuters and gave the company a “buy” rating in a research report on Wednesday, October 15th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Thomson Reuters currently has a consensus rating of “Moderate Buy” and an average price target of $188.55.

Thomson Reuters Trading Down 2.4%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. The firm has a fifty day moving average price of $131.72 and a 200 day moving average price of $158.48. The company has a market cap of $53.84 billion, a price-to-earnings ratio of 24.75, a P/E/G ratio of 5.67 and a beta of 0.80.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results on Tuesday, November 4th. The business services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the firm posted $0.80 earnings per share. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts predict that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were issued a dividend of $0.595 per share. The ex-dividend date was Tuesday, November 18th. This represents a $2.38 dividend on an annualized basis and a yield of 2.0%. Thomson Reuters’s dividend payout ratio (DPR) is presently 61.18%.

Institutional Trading of Thomson Reuters

Hedge funds have recently made changes to their positions in the business. Curio Wealth LLC increased its holdings in shares of Thomson Reuters by 16,200.0% during the 2nd quarter. Curio Wealth LLC now owns 163 shares of the business services provider’s stock worth $33,000 after acquiring an additional 162 shares during the last quarter. Westside Investment Management Inc. acquired a new stake in Thomson Reuters during the 2nd quarter valued at $34,000. Ameritas Advisory Services LLC bought a new position in Thomson Reuters during the second quarter worth $37,000. AlphaCore Capital LLC acquired a new position in shares of Thomson Reuters in the second quarter valued at $39,000. Finally, Cullen Frost Bankers Inc. increased its holdings in shares of Thomson Reuters by 50.0% in the third quarter. Cullen Frost Bankers Inc. now owns 249 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 83 shares during the last quarter. 17.31% of the stock is owned by institutional investors and hedge funds.

Thomson Reuters Company Profile

Thomson Reuters (NYSE: TRI) is a multinational information and media company that provides content, technology and services to professionals in the legal, tax & accounting, compliance, risk, corporate and media sectors. Headquartered in Toronto, Canada, the company combines news and editorial content from the Reuters news agency with specialist workflow platforms and databases designed to support decision-making and regulatory compliance across industries worldwide.

The company’s product portfolio spans legal research and workflow tools, tax and accounting software, regulatory and risk management solutions, and real-time news and data services.