Thomson Reuters (NASDAQ:TRI) Trading 5.1% Higher – Time to Buy?

Shares of Thomson Reuters Corp (NASDAQ:TRI) shot up 5.1% during trading on Tuesday . The company traded as high as $92.36 and last traded at $92.3410. Approximately 173,740 shares traded hands during trading, a decline of 93% from the average session volume of 2,335,102 shares. The stock had previously closed at $87.86.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Barclays reissued 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. Weiss Ratings downgraded shares of Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. Argus started coverage on shares of Thomson Reuters in a research note on Wednesday, April 22nd. They issued a “hold” rating on the stock. Scotiabank set a $138.00 price target on shares of Thomson Reuters and gave the company a “sector outperform” rating in a report on Wednesday, May 6th. Finally, TD Securities restated a “buy” rating on shares of Thomson Reuters in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $143.92.

Thomson Reuters Stock Down 2.1%

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 cap of $38.77 billion, a price-to-earnings ratio of 25.86, a P/E/G ratio of 1.35 and a beta of 0.77. The stock has a fifty day moving average price of $85.49 and a two-hundred day moving average price of $98.58.

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

Thomson Reuters Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a $0.655 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $2.62 dividend on an annualized basis and a yield of 2.9%. Thomson Reuters’s payout ratio is currently 76.16%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Thomson Reuters by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 5,776,640 shares of the company’s stock worth $762,320,000 after acquiring an additional 85,684 shares during the period. Bank of Nova Scotia lifted its position in shares of Thomson Reuters by 16.5% during the 3rd quarter. Bank of Nova Scotia now owns 435,265 shares of the company’s stock valued at $67,612,000 after acquiring an additional 61,597 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Thomson Reuters by 19.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 77,601 shares of the company’s stock valued at $10,235,000 after acquiring an additional 12,470 shares during the period. Magnetar Financial LLC acquired a new stake in shares of Thomson Reuters during the 3rd quarter worth $7,832,000. Finally, Numerai GP LLC increased its position in shares of Thomson Reuters by 401.1% in the third quarter. Numerai GP LLC now owns 17,049 shares of the company’s stock worth $2,648,000 after purchasing an additional 13,647 shares during the period. 17.31% of the stock is owned by institutional investors.

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.