Thomson Reuters (NYSE:TRI) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Thomson Reuters (NYSE:TRI) (TSE:TRI) from a strong-buy rating to a hold rating in a report issued on Saturday morning, reports.

According to Zacks, “Thomson Corporation is a leading provider of value-added information and technology to users in the fields of law, tax, accounting, financial services, higher education, reference information, corporate training and assessment, scientific research and healthcare. “

A number of other equities analysts have also commented on the company. Macquarie reissued a neutral rating on shares of EXPERIAN PLC/ADR in a research note on Tuesday, June 25th. Royal Bank of Canada boosted their price objective on Summit Industrial Income REIT from C$11.50 to C$12.50 and gave the stock a sector perform rating in a research note on Thursday, May 9th. National Bank Financial raised Thomson Reuters from a sector perform rating to an outperform rating and boosted their price objective for the stock from C$78.00 to C$88.00 in a research note on Monday, April 22nd. Morgan Stanley boosted their price objective on Thomson Reuters from $66.00 to $67.00 and gave the stock an overweight rating in a research note on Monday, April 29th. Finally, ValuEngine lowered Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. Ten investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $62.65.

Thomson Reuters stock opened at $67.90 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $33.92 billion, a price-to-earnings ratio of 90.53, a P/E/G ratio of 7.45 and a beta of 0.53. The business has a fifty day simple moving average of $65.47. Thomson Reuters has a 52 week low of $44.78 and a 52 week high of $68.05.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Wednesday, May 8th. The business services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.13. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. Thomson Reuters had a return on equity of 4.25% and a net margin of 78.52%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 earnings per share. As a group, equities analysts forecast that Thomson Reuters will post 1.13 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Thursday, May 23rd were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Wednesday, May 22nd. Thomson Reuters’s dividend payout ratio (DPR) is presently 192.00%.

Institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Thomson Reuters in the 4th quarter valued at $408,000. Gideon Capital Advisors Inc. purchased a new stake in Thomson Reuters in the 4th quarter valued at $216,000. Lord Abbett & CO. LLC purchased a new stake in Thomson Reuters in the 4th quarter valued at $13,587,000. Lido Advisors LLC purchased a new stake in Thomson Reuters in the 4th quarter valued at $271,000. Finally, Brinker Capital Inc. purchased a new stake in Thomson Reuters in the 4th quarter valued at $766,000. 20.42% of the stock is currently owned by institutional investors and hedge funds.

Thomson Reuters Company Profile

Thomson Reuters Corporation provides news and information-based tools to professionals worldwide. It operates through five segments: Legal Professionals, Corporates, Tax 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.

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