Shares of Thomson Reuters Co. (NYSE:TRI – Get Free Report) (TSE:TRI) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $128.20 and traded as high as $130.75. Thomson Reuters shares last traded at $130.23, with a volume of 203,785 shares trading hands.
Analyst Ratings Changes
A number of research firms recently issued reports on TRI. The Goldman Sachs Group boosted their target price on shares of Thomson Reuters to $144.00 in a research report on Tuesday, June 27th. TD Securities lifted their target price on shares of Thomson Reuters from $185.00 to $190.00 and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Royal Bank of Canada downgraded shares of Thomson Reuters from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $135.00 to $139.00 in a report on Thursday, August 3rd. Barclays upped their target price on Thomson Reuters from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 3rd. Finally, National Bank Financial downgraded shares of Thomson Reuters from an “outperform” rating to a “sector perform” rating in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Thomson Reuters currently has an average rating of “Hold” and an average target price of $148.62.
Thomson Reuters Price Performance
Thomson Reuters (NYSE:TRI – Get Free Report) (TSE:TRI) last issued its quarterly earnings results on Wednesday, August 2nd. The business services provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.07. Thomson Reuters had a return on equity of 11.91% and a net margin of 32.12%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.66 billion. On average, analysts expect that Thomson Reuters Co. will post 3.34 EPS for the current year.
Thomson Reuters Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 17th will be issued a dividend of $0.49 per share. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.36. The ex-dividend date is Wednesday, August 16th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.51%. Thomson Reuters’s dividend payout ratio is presently 42.15%.
Institutional Investors Weigh In On Thomson Reuters
A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Thomson Reuters by 2.8% in the third quarter. Vanguard Group Inc. now owns 5,584,932 shares of the business services provider’s stock worth $573,125,000 after purchasing an additional 150,880 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Thomson Reuters by 26.8% during the second quarter. The Manufacturers Life Insurance Company now owns 3,848,670 shares of the business services provider’s stock valued at $519,364,000 after acquiring an additional 814,295 shares during the last quarter. TD Asset Management Inc lifted its holdings in Thomson Reuters by 35.8% in the second quarter. TD Asset Management Inc now owns 2,876,681 shares of the business services provider’s stock valued at $388,833,000 after acquiring an additional 758,199 shares during the period. Norges Bank bought a new position in Thomson Reuters in the fourth quarter valued at about $207,419,000. Finally, 1832 Asset Management L.P. lifted its holdings in Thomson Reuters by 1.8% in the second quarter. 1832 Asset Management L.P. now owns 1,607,628 shares of the business services provider’s stock valued at $216,933,000 after acquiring an additional 28,908 shares during the period. Hedge funds and other institutional investors own 17.31% of the company’s stock.
About Thomson Reuters
Thomson Reuters Corporation engages in the provision of 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.
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