Thomson Reuters (NASDAQ:TRI) Trading 6.5% Higher – Should You Buy?

Thomson Reuters Corp (NASDAQ:TRI) rose 6.5% on Monday . The company traded as high as $87.25 and last traded at $88.0910. Approximately 130,570 shares were traded during trading, a decline of 95% from the average daily volume of 2,481,742 shares. The stock had previously closed at $82.73.

Analysts Set New Price Targets

TRI has been the topic of a number of recent research reports. The Goldman Sachs Group set a $112.66 target price on Thomson Reuters and gave the stock a “buy” rating in a research note on Saturday, February 7th. Wells Fargo & Company raised their price objective on Thomson Reuters from $87.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. TD Securities restated a “buy” rating on shares of Thomson Reuters in a research note on Wednesday, May 6th. Weiss Ratings lowered Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 20th. Finally, Barclays restated an “overweight” rating and set a $130.00 price objective (down from $170.00) on shares of Thomson Reuters in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $146.28.

Thomson Reuters Stock Performance

The stock has a fifty day simple moving average of $93.46 and a two-hundred day simple moving average of $113.43. The stock has a market cap of $38.68 billion, a price-to-earnings ratio of 25.75, a P/E/G ratio of 1.23 and a beta of 0.80. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.60 and a current ratio of 0.60.

Thomson Reuters (NASDAQ:TRI) last issued its earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.05. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2 billion. Thomson Reuters had a return on equity of 14.99% and a net margin of 19.93%.The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.12 EPS. Analysts expect that Thomson Reuters Corp will post 4.44 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be issued a dividend of $0.655 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $2.62 annualized dividend and a dividend yield of 3.0%. Thomson Reuters’s dividend payout ratio (DPR) is 77.33%.

Institutional Investors Weigh In On Thomson Reuters

Several hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Thomson Reuters by 65.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,500,365 shares of the company’s stock valued at $135,297,000 after acquiring an additional 591,642 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Thomson Reuters by 88.3% during the 1st quarter. Quantinno Capital Management LP now owns 90,480 shares of the company’s stock valued at $8,141,000 after acquiring an additional 42,428 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Thomson Reuters during the 1st quarter valued at $750,000. Everest Financial Group LLC acquired a new stake in shares of Thomson Reuters during the 1st quarter valued at $204,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Thomson Reuters by 37.3% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 450,968 shares of the company’s stock valued at $40,578,000 after acquiring an additional 122,625 shares in the last quarter. Institutional investors and hedge funds 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.