Barclays Cuts Thomson Reuters (NASDAQ:TRI) Price Target to $130.00

Thomson Reuters (NASDAQ:TRI) had its target price decreased by Barclays from $140.00 to $130.00 in a report issued on Tuesday morning, MarketBeat.com reports. Barclays currently has an overweight rating on the stock.

Several other brokerages have also recently weighed in on TRI. Canaccord Genuity Group lowered their price objective on shares of Thomson Reuters from $134.00 to $132.50 and set a “buy” rating on the stock in a research note on Thursday, August 6th. TD Securities reaffirmed a “buy” rating on shares of Thomson Reuters in a report on Thursday, August 6th. Bank of America reduced their target price on shares of Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating for the company in a report on Tuesday, May 19th. Scotia decreased their price target on shares of Thomson Reuters from $138.00 to $135.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Thomson Reuters from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $131.57.

Thomson Reuters Stock Performance

Shares of TRI opened at $95.71 on Tuesday. The firm has a market capitalization of $41.69 billion, a P/E ratio of 25.48, a PEG ratio of 1.86 and a beta of 0.74. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.51 and a quick ratio of 0.51. Thomson Reuters has a one year low of $76.28 and a one year high of $174.34. The business has a fifty day moving average of $99.50 and a 200 day moving average of $93.50.

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

Thomson Reuters Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were given a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Wednesday, August 19th. Thomson Reuters’s payout ratio is presently 69.68%.

Institutional Investors Weigh In On Thomson Reuters

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC purchased a new position in Thomson Reuters during the fourth quarter valued at approximately $30,000. Timmons Wealth Management LLC bought a new position in shares of Thomson Reuters in the fourth quarter worth approximately $42,000. Continuum Advisory LLC purchased a new stake in shares of Thomson Reuters in the second quarter worth $45,000. Western Wealth Management LLC purchased a new stake in shares of Thomson Reuters in the first quarter worth $48,000. Finally, J.Safra Asset Management Corp bought a new stake in shares of Thomson Reuters during the 4th quarter valued at $56,000. 17.31% of the stock is owned by hedge funds and other institutional investors.

About Thomson Reuters

Thomson Reuters Corporation is a global provider of information, software, and technology solutions for professionals and institutions. Its products and services support legal professionals, corporations, tax and accounting firms, governments, and media organizations, helping customers manage regulatory requirements, research information, analyze data, and improve workflow efficiency.

The company’s offerings include legal research and practice-management solutions, tax and accounting software, corporate compliance and risk-management tools, and products designed for government and regulatory users.