Thomson Reuters (NYSE:TRI) Hits New 1-Year High After Analyst Upgrade

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) shares reached a new 52-week high on Tuesday after TD Securities raised their price target on the stock from $177.00 to $182.00. TD Securities currently has a sector perform rating on the stock. Thomson Reuters traded as high as $184.54 and last traded at $184.16, with a volume of 244314 shares traded. The stock had previously closed at $182.41.

TRI has been the subject of a number of other research reports. Scotiabank increased their price target on Thomson Reuters from $187.00 to $188.00 and gave the stock a “sector outperform” rating in a research note on Friday, February 7th. Wells Fargo & Company increased their target price on Thomson Reuters from $165.00 to $177.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. lifted their target price on Thomson Reuters from $175.00 to $177.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. CIBC upped their price target on Thomson Reuters from $165.00 to $174.00 in a research note on Friday, February 7th. Finally, Bank of America assumed coverage on shares of Thomson Reuters in a research report on Thursday, April 10th. They set a “neutral” rating and a $180.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Thomson Reuters presently has an average rating of “Hold” and a consensus target price of $178.18.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp boosted its position in shares of Thomson Reuters by 139.5% during the fourth quarter. Mackenzie Financial Corp now owns 8,544,503 shares of the business services provider’s stock valued at $1,370,564,000 after buying an additional 4,977,006 shares during the period. Norges Bank purchased a new position in Thomson Reuters in the fourth quarter valued at about $148,221,000. Geode Capital Management LLC lifted its position in Thomson Reuters by 74.3% during the fourth quarter. Geode Capital Management LLC now owns 1,315,080 shares of the business services provider’s stock valued at $214,236,000 after acquiring an additional 560,450 shares during the last quarter. TD Asset Management Inc. grew its stake in Thomson Reuters by 12.2% during the 4th quarter. TD Asset Management Inc. now owns 4,764,429 shares of the business services provider’s stock worth $764,654,000 after buying an additional 516,605 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Thomson Reuters by 52.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider’s stock valued at $185,011,000 after acquiring an additional 395,481 shares in the last quarter. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Up 1.0 %

The firm has a market capitalization of $83.01 billion, a price-to-earnings ratio of 37.69, a P/E/G ratio of 5.67 and a beta of 0.70. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average price is $174.61 and its 200 day moving average price is $168.86.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. As a group, research analysts forecast that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 20th were issued a $0.595 dividend. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $2.38 dividend on an annualized basis and a yield of 1.29%. Thomson Reuters’s dividend payout ratio is presently 48.67%.

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.