Thomson Reuters (NYSE:TRI) Hits New 12-Month High at $119.87

Thomson Reuters Co. (NYSE:TRI – Get Rating) (TSE:TRI) reached a new 52-week high during trading on Tuesday . The company traded as high as $119.87 and last traded at $119.26, with a volume of 15778 shares changing hands. The stock had previously closed at $117.80.

Analyst Ratings Changes

Several brokerages have recently issued reports on TRI. Barclays increased their price target on shares of Thomson Reuters from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Friday, December 2nd. BNP Paribas cut shares of Thomson Reuters from a “neutral” rating to an “underperform” rating in a research report on Thursday, December 1st. TD Securities increased their price target on shares of Thomson Reuters from C$165.00 to C$170.00 in a research report on Wednesday, December 14th. Exane BNP Paribas cut shares of Thomson Reuters from a “neutral” rating to an “underperform” rating in a research report on Thursday, December 1st. Finally, Morgan Stanley increased their price target on shares of Thomson Reuters from $108.00 to $111.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $131.11.

Thomson Reuters Price Performance

The stock’s 50 day moving average is $114.64 and its two-hundred day moving average is $110.39. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market capitalization of $55.93 billion, a PE ratio of 60.69, a price-to-earnings-growth ratio of 3.29 and a beta of 0.59.

Thomson Reuters (NYSE:TRI – Get Rating) (TSE:TRI) last announced its quarterly earnings results on Tuesday, November 1st. The business services provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.49 by $0.08. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.59 billion. Thomson Reuters had a net margin of 14.38% and a return on equity of 8.10%. As a group, sell-side analysts forecast that Thomson Reuters Co. will post 2.47 earnings per share for the current fiscal year.

Thomson Reuters Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, November 17th were paid a $0.322 dividend. The ex-dividend date of this dividend was Wednesday, November 16th. This represents a $1.29 annualized dividend and a yield of 1.10%. Thomson Reuters’s dividend payout ratio is currently 92.23%.

Hedge Funds Weigh In On Thomson Reuters

Several hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp increased its stake in Thomson Reuters by 9.7% in the second quarter. Mackenzie Financial Corp now owns 7,796,702 shares of the business services provider’s stock valued at $812,803,000 after purchasing an additional 691,135 shares during the last quarter. Bank of Montreal Can increased its stake in Thomson Reuters by 45.0% in the third quarter. Bank of Montreal Can now owns 7,593,951 shares of the business services provider’s stock valued at $785,341,000 after purchasing an additional 2,357,199 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Thomson Reuters by 2.8% during the third quarter. Vanguard Group Inc. now owns 5,584,932 shares of the business services provider’s stock worth $573,125,000 after acquiring an additional 150,880 shares during the last quarter. FMR LLC grew its position in shares of Thomson Reuters by 2.7% during the second quarter. FMR LLC now owns 4,351,171 shares of the business services provider’s stock worth $453,608,000 after acquiring an additional 114,071 shares during the last quarter. Finally, Fiera Capital Corp grew its position in shares of Thomson Reuters by 12.2% during the second quarter. Fiera Capital Corp now owns 3,146,340 shares of the business services provider’s stock worth $327,880,000 after acquiring an additional 341,428 shares during the last quarter. 20.84% of the stock is currently owned by hedge funds and other institutional investors.

About Thomson Reuters

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Thomson Reuters Corporation provides business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting 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 to law firms and governments.