Thomson Reuters (NASDAQ:TRI) Trading 7.2% Higher – Here’s What Happened

Shares of Thomson Reuters Corp (NASDAQ:TRI) traded up 7.2% during trading on Monday . The stock traded as high as $95.34 and last traded at $96.6130. Approximately 352,521 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 2,304,307 shares. The stock had previously closed at $90.15.

Analyst Upgrades and Downgrades

TRI has been the topic of several analyst reports. Barclays reissued an “overweight” rating and set a $130.00 target price (down from $170.00) on shares of Thomson Reuters in a research report on Friday, May 8th. TD Securities reiterated a “buy” rating on shares of Thomson Reuters in a research note on Wednesday, May 6th. Argus began coverage on shares of Thomson Reuters in a report on Wednesday, April 22nd. They issued a “hold” rating on the stock. UBS Group set a $185.74 target price on shares of Thomson Reuters and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, Bank of America dropped their price objective on Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $143.92.

Thomson Reuters Price Performance

The firm has a market cap of $42.56 billion, a P/E ratio of 28.33, a price-to-earnings-growth ratio of 1.34 and a beta of 0.77. The stock’s 50-day moving average is $86.04 and its 200-day moving average is $95.05. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.11.

Thomson Reuters (NASDAQ:TRI) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2 billion. During the same period last year, the business posted $1.12 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts anticipate that Thomson Reuters Corp will post 4.44 EPS for the current fiscal year.

Thomson Reuters Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a $0.655 dividend. This represents a $2.62 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, May 20th. Thomson Reuters’s payout ratio is 76.16%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TLT Family Holdco ULC bought a new stake in Thomson Reuters in the second quarter valued at $865,442,000. SEG Family Corp. bought a new stake in Thomson Reuters during the second quarter worth about $659,930,000. Invesco Ltd. grew its stake in Thomson Reuters by 461.1% during the third quarter. Invesco Ltd. now owns 2,253,243 shares of the company’s stock worth $349,996,000 after buying an additional 1,851,677 shares during the last quarter. Norges Bank acquired a new stake in shares of Thomson Reuters during the fourth quarter worth approximately $153,417,000. Finally, Morgan Stanley grew its position in Thomson Reuters by 31.2% during the 4th quarter. Morgan Stanley now owns 2,802,312 shares of the company’s stock worth $369,597,000 after acquiring an additional 665,743 shares during the last quarter. Institutional investors own 17.31% of the company’s stock.

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.