Thomson Reuters (NYSE:TRI) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Thomson Reuters (NYSE:TRI) (TSE:TRI) in a research report report published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an equal weight rating and a $165.00 price target on the business services provider’s stock.

A number of other research analysts have also recently commented on TRI. Royal Bank of Canada raised their price target on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 6th. National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. lifted their price target on Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Scotiabank lifted their price objective on Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. Finally, StockNews.com lowered Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $175.20.

Thomson Reuters Stock Up 0.6 %

TRI opened at $161.70 on Tuesday. Thomson Reuters has a fifty-two week low of $138.57 and a fifty-two week high of $176.03. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $72.75 billion, a P/E ratio of 31.83, a P/E/G ratio of 5.44 and a beta of 0.73. The stock has a fifty day moving average of $166.69 and a 200-day moving average of $167.08.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the business earned $0.82 earnings per share. Thomson Reuters’s revenue was up 8.2% on a year-over-year basis. On average, equities analysts expect that Thomson Reuters will post 3.69 EPS for the current year.

Thomson Reuters Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.54 per share. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, November 21st. This represents a $2.16 annualized dividend and a dividend yield of 1.34%. Thomson Reuters’s payout ratio is currently 42.52%.

Institutional Investors Weigh In On Thomson Reuters

Several hedge funds and other institutional investors have recently modified their holdings of TRI. National Bank of Canada FI increased its holdings in shares of Thomson Reuters by 115.7% during the third quarter. National Bank of Canada FI now owns 963,315 shares of the business services provider’s stock valued at $164,292,000 after acquiring an additional 516,715 shares in the last quarter. Cibc World Market Inc. grew its holdings in Thomson Reuters by 26.3% during the second quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider’s stock worth $223,525,000 after buying an additional 276,206 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in Thomson Reuters during the second quarter worth $45,514,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Thomson Reuters by 11.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider’s stock worth $439,665,000 after buying an additional 255,387 shares in the last quarter. Finally, Toronto Dominion Bank grew its holdings in Thomson Reuters by 87.1% during the second quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider’s stock worth $85,136,000 after buying an additional 235,145 shares in the last quarter. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Company Profile

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.