Thomson Reuters (NASDAQ:TRI) Shares Gap Up – Here’s Why

Thomson Reuters Corp (NASDAQ:TRI)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $76.55, but opened at $78.93. Thomson Reuters shares last traded at $79.1810, with a volume of 197,108 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TRI shares. Bank of America dropped their target price on Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 19th. Weiss Ratings raised Thomson Reuters from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 8th. Argus began coverage on Thomson Reuters in a research note on Wednesday, April 22nd. They issued a “hold” rating on the stock. Barclays reiterated an “overweight” rating and issued a $130.00 price objective (down from $170.00) on shares of Thomson Reuters in a research report on Friday, May 8th. Finally, TD Securities reissued a “buy” rating on shares of Thomson Reuters in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.84.

Thomson Reuters Stock Performance

The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $34.67 billion, a PE ratio of 23.14, a PEG ratio of 1.17 and a beta of 0.77. The stock’s fifty day simple moving average is $87.20 and its 200-day simple moving average is $102.68.

Thomson Reuters (NASDAQ:TRI) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.18 by $0.05. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2 billion. Thomson Reuters had a return on equity of 14.99% and a net margin of 19.93%.The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.12 EPS. On average, research analysts predict that Thomson Reuters Corp will post 4.44 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were issued a dividend of $0.655 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $2.62 annualized dividend and a yield of 3.3%. Thomson Reuters’s payout ratio is currently 76.16%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Empowered Funds LLC acquired a new position in shares of Thomson Reuters during the 4th quarter worth $30,000. Timmons Wealth Management LLC acquired a new stake in Thomson Reuters in the 4th quarter valued at about $42,000. Montag A & Associates Inc. purchased a new position in Thomson Reuters during the 4th quarter valued at about $43,000. Western Wealth Management LLC purchased a new position in Thomson Reuters during the 1st quarter valued at about $48,000. Finally, J.Safra Asset Management Corp acquired a new position in Thomson Reuters during the fourth quarter worth about $56,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Company Profile

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.