Thomson Reuters (NASDAQ:TRI) Stock Gets Price Target Reduction from Canaccord Genuity Group

Thomson Reuters (NASDAQ:TRI) had its target price trimmed by Canaccord Genuity Group from $132.50 to $129.50 in a research note released on Thursday morning,BayStreet reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also recently commented on the stock. TD Securities reissued a “buy” rating on shares of Thomson Reuters in a research report on Thursday, August 6th. Morgan Stanley set a $110.00 price objective on Thomson Reuters and gave the company an “equal weight” rating in a report on Tuesday, October 13th. Scotiabank reaffirmed a “sector outperform” rating and issued a $135.00 target price on shares of Thomson Reuters in a research report on Thursday, August 6th. Weiss Ratings upgraded Thomson Reuters from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 15th. Finally, Wells Fargo & Company set a $85.00 target price on Thomson Reuters and gave the stock an “equal weight” rating in a report on Tuesday, June 30th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $127.42.

Thomson Reuters Price Performance

NASDAQ TRI opened at $123.17 on Thursday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.12. Thomson Reuters has a 12-month low of $76.28 and a 12-month high of $164.30. The company has a market capitalization of $53.38 billion, a PE ratio of 32.79, a price-to-earnings-growth ratio of 2.36 and a beta of 0.75. The firm’s 50 day moving average is $103.36 and its 200-day moving average is $94.73.

Thomson Reuters (NASDAQ:TRI) last announced its earnings results on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.96 by $0.03. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.87 earnings per share. Equities research analysts anticipate that Thomson Reuters will post 4.48 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were paid a $0.6550 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $2.62 dividend on an annualized basis and a yield of 2.1%. Thomson Reuters’s dividend payout ratio (DPR) is currently 69.68%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Apollon Wealth Management LLC acquired a new stake in Thomson Reuters in the 3rd quarter valued at about $219,000. Signaturefd LLC grew its holdings in Thomson Reuters by 14.8% during the third quarter. Signaturefd LLC now owns 6,362 shares of the company’s stock worth $619,000 after purchasing an additional 819 shares during the period. Bond & Devick Financial Network Inc. grew its holdings in Thomson Reuters by 51.6% during the third quarter. Bond & Devick Financial Network Inc. now owns 9,990 shares of the company’s stock worth $972,000 after purchasing an additional 3,400 shares during the period. Evergreen Capital Management LLC acquired a new position in Thomson Reuters during the third quarter worth approximately $262,000. Finally, Gibbs Wealth Management increased its position in Thomson Reuters by 63.4% during the third quarter. Gibbs Wealth Management now owns 6,415 shares of the company’s stock worth $624,000 after buying an additional 2,489 shares during the last quarter. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Thomson Reuters Company Profile

Thomson Reuters is a global provider of information, software and technology solutions for professionals and institutions. The company serves customers in the legal, tax, accounting, audit, corporate, government, risk and compliance sectors, as well as the media industry. Its offerings combine authoritative content with workflow tools, data analytics and artificial intelligence.

Key products and services include Westlaw and Practical Law for legal research and practice management; Checkpoint and ONESOURCE for tax and accounting professionals; Confirmation for audit-related workflows; and CoCounsel, an AI-assisted legal technology platform.