Thomson Reuters (NYSE:TRI) Sets New 12-Month High – Here’s What Happened

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $196.27 and last traded at $196.07, with a volume of 817369 shares traded. The stock had previously closed at $193.98.

Wall Street Analysts Forecast Growth

Several analysts have commented on TRI shares. Wells Fargo & Company lifted their price target on Thomson Reuters from $165.00 to $177.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Royal Bank of Canada raised their target price on shares of Thomson Reuters from $182.00 to $185.00 and gave the stock a “sector perform” rating in a research report on Friday, May 2nd. The Goldman Sachs Group boosted their target price on shares of Thomson Reuters from $168.00 to $188.00 and gave the company a “neutral” rating in a report on Friday, February 7th. TD Securities lifted their price target on shares of Thomson Reuters from $177.00 to $182.00 and gave the company a “sector perform” rating in a report on Tuesday, April 29th. Finally, Scotiabank reissued a “sector perform” rating and set a $188.00 price objective on shares of Thomson Reuters in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Thomson Reuters presently has an average rating of “Hold” and an average target price of $183.70.

Thomson Reuters Price Performance

The stock has a market cap of $88.31 billion, a PE ratio of 40.10, a price-to-earnings-growth ratio of 5.67 and a beta of 0.75. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The company’s fifty day moving average is $178.24 and its 200 day moving average is $171.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Thursday, May 1st. The business services provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.07. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the business earned $1.11 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 15th will be issued a $0.595 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.38 annualized dividend and a yield of 1.21%. Thomson Reuters’s dividend payout ratio is currently 49.69%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new stake in shares of Thomson Reuters in the fourth quarter worth about $27,000. Atomi Financial Group Inc. raised its holdings in shares of Thomson Reuters by 16.1% during the 4th quarter. Atomi Financial Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $292,000 after buying an additional 252 shares during the period. CIBC Asset Management Inc lifted its position in Thomson Reuters by 52.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider’s stock worth $185,011,000 after acquiring an additional 395,481 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in Thomson Reuters by 26.0% in the 4th quarter. Park Avenue Securities LLC now owns 2,546 shares of the business services provider’s stock worth $409,000 after acquiring an additional 526 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Thomson Reuters by 23.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 5,966 shares of the business services provider’s stock worth $958,000 after acquiring an additional 1,145 shares during the period. 17.31% of the stock is owned by hedge funds and other institutional investors.

Thomson Reuters Company Profile

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.