StockNews.com Upgrades Thomson Reuters (NYSE:TRI) to Hold

Thomson Reuters (NYSE:TRI) (TSE:TRI) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other equities research analysts also recently weighed in on TRI. Royal Bank of Canada upped their price objective on shares of Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 6th. CIBC upped their price target on shares of Thomson Reuters from $164.00 to $165.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. Scotiabank raised their price objective on shares of Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company initiated coverage on Thomson Reuters in a research report on Tuesday, November 26th. They issued an “equal weight” rating and a $165.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Thomson Reuters has an average rating of “Hold” and a consensus target price of $176.10.

Thomson Reuters Stock Performance

NYSE TRI traded down $0.85 on Wednesday, hitting $159.64. The stock had a trading volume of 313,609 shares, compared to its average volume of 270,642. The company’s 50-day moving average is $164.41 and its two-hundred day moving average is $165.89. Thomson Reuters has a one year low of $142.80 and a one year high of $176.03. The stock has a market cap of $71.83 billion, a price-to-earnings ratio of 31.43, a P/E/G ratio of 5.69 and a beta of 0.72. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.16.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its 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 return on equity of 14.85% and a net margin of 32.12%. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the firm earned $0.82 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. On average, analysts expect that Thomson Reuters will post 3.69 earnings per share for the current year.

Hedge Funds Weigh In On Thomson Reuters

A number of institutional investors have recently bought and sold shares of TRI. Aigen Investment Management LP boosted its position in shares of Thomson Reuters by 87.4% in the third quarter. Aigen Investment Management LP now owns 7,326 shares of the business services provider’s stock worth $1,250,000 after buying an additional 3,417 shares during the period. Meridian Wealth Management LLC acquired a new position in Thomson Reuters during the third quarter valued at $4,506,000. Icon Wealth Advisors LLC boosted its position in Thomson Reuters by 547.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 7,943 shares of the business services provider’s stock worth $1,355,000 after acquiring an additional 6,716 shares during the period. Toronto Dominion Bank increased its holdings in shares of Thomson Reuters by 87.1% in the 2nd quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider’s stock valued at $85,136,000 after purchasing an additional 235,145 shares during the period. Finally, Qsemble Capital Management LP purchased a new stake in shares of Thomson Reuters in the third quarter worth approximately $2,127,000. 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.