Thomson Reuters (NYSE:TRI) Now Covered by 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, Marketbeat Ratings reports. The brokerage issued an equal weight rating and a $165.00 price target on the business services provider’s stock.

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

Thomson Reuters Trading Up 0.6 %

NYSE TRI opened at $162.75 on Tuesday. 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 firm has a market cap of $73.22 billion, a price-to-earnings ratio of 32.04, a PEG ratio of 5.47 and a beta of 0.73. The firm has a 50 day simple moving average of $166.55 and a 200-day simple moving average of $167.04. Thomson Reuters has a one year low of $138.80 and a one year high of $176.03.

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, beating the consensus estimate of $0.77 by $0.03. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the company posted $0.82 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. Equities research analysts anticipate that Thomson Reuters will post 3.69 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.33%. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.15. Thomson Reuters’s payout ratio is 42.52%.

Institutional Investors Weigh In On Thomson Reuters

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rothschild Investment LLC acquired a new stake in shares of Thomson Reuters during the second quarter worth about $25,000. EverSource Wealth Advisors LLC lifted its position in Thomson Reuters by 76.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock worth $28,000 after acquiring an additional 80 shares during the period. Asset Dedication LLC grew its stake in shares of Thomson Reuters by 125.0% in the 3rd quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 130 shares during the last quarter. Clean Yield Group acquired a new position in shares of Thomson Reuters in the third quarter valued at approximately $42,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Thomson Reuters in the third quarter valued at approximately $47,000. 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.