Thomson Reuters (NASDAQ:TRI) Now Covered by Argus

Argus began coverage on shares of Thomson Reuters (NASDAQ:TRI) in a research note released on Wednesday, MarketBeat reports. The firm issued a hold rating on the stock.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings cut Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Scotiabank reiterated an “outperform” rating and issued a $156.00 price objective (down from $189.00) on shares of Thomson Reuters in a report on Friday, February 6th. JPMorgan Chase & Co. lowered their price objective on Thomson Reuters from $160.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, February 6th. Canaccord Genuity Group lowered their price objective on Thomson Reuters from $174.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. Finally, Canadian Imperial Bank of Commerce set a $183.00 price objective on Thomson Reuters and gave the stock an “outperformer” rating in a report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $144.27.

Thomson Reuters Price Performance

Shares of Thomson Reuters stock opened at $92.86 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.11. Thomson Reuters has a twelve month low of $79.71 and a twelve month high of $218.42. The firm has a market cap of $41.13 billion, a PE ratio of 27.89, a P/E/G ratio of 1.44 and a beta of 0.83. The business has a 50-day moving average price of $92.95 and a 200 day moving average price of $119.24.

Thomson Reuters (NASDAQ:TRI) last posted its quarterly earnings data on Thursday, February 5th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. Thomson Reuters had a return on equity of 14.51% and a net margin of 20.09%.The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Sell-side analysts predict that Thomson Reuters will post 4.4 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were issued a dividend of $0.655 per share. The ex-dividend date was Tuesday, February 17th. This represents a $2.62 annualized dividend and a dividend yield of 2.8%. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.60. Thomson Reuters’s payout ratio is presently 78.68%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TRI. Empowered Funds LLC acquired a new position in shares of Thomson Reuters during the 4th quarter worth approximately $30,000. Cullen Frost Bankers Inc. boosted its holdings in shares of Thomson Reuters by 50.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 249 shares of the company’s stock worth $39,000 after purchasing an additional 83 shares during the last quarter. Timmons Wealth Management LLC acquired a new position in shares of Thomson Reuters during the 4th quarter worth approximately $42,000. Montag A & Associates Inc. acquired a new position in shares of Thomson Reuters during the 4th quarter worth approximately $43,000. Finally, Westside Investment Management Inc. boosted its holdings in shares of Thomson Reuters by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 338 shares of the company’s stock worth $52,000 after purchasing an additional 169 shares during the last quarter. 17.31% of the stock is currently owned by institutional investors and hedge funds.

About Thomson Reuters

Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies real‐time journalism to media organizations worldwide.

Formed in 2008 through the merger of Canada’s Thomson Corporation (founded in 1934) and the UK’s Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.