Thomson Reuters (NYSE:TRI) Shares Down 3.2%

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI)’s stock price traded down 3.2% during trading on Tuesday . The stock traded as low as $167.24 and last traded at $167.40. 229,221 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 372,433 shares. The stock had previously closed at $172.92.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TRI. Royal Bank of Canada cut their target price on Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Scotiabank upgraded shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $164.00 to $182.00 in a research note on Tuesday, August 27th. National Bank Financial raised Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. boosted their target price on Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $173.45.

Thomson Reuters Stock Performance

The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16. The stock has a 50-day simple moving average of $165.37 and a 200-day simple moving average of $163.47. The company has a market capitalization of $76.59 billion, a price-to-earnings ratio of 32.44, a price-to-earnings-growth ratio of 5.82 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its earnings results on Thursday, August 1st. The business services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.75 billion. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. Thomson Reuters’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. On average, analysts anticipate that Thomson Reuters Co. will post 3.71 earnings per share for the current year.

Thomson Reuters Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a dividend of $0.146 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.58 annualized dividend and a dividend yield of 0.34%. Thomson Reuters’s dividend payout ratio is currently 41.14%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TRI. Janus Henderson Group PLC raised its holdings in Thomson Reuters by 23.8% during the 1st quarter. Janus Henderson Group PLC now owns 16,770 shares of the business services provider’s stock worth $2,612,000 after buying an additional 3,223 shares during the period. FIL Ltd grew its stake in Thomson Reuters by 9.8% in the fourth quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock valued at $730,195,000 after purchasing an additional 445,444 shares in the last quarter. CIBC Asset Management Inc increased its position in Thomson Reuters by 11.4% in the 4th quarter. CIBC Asset Management Inc now owns 581,703 shares of the business services provider’s stock worth $85,320,000 after purchasing an additional 59,388 shares during the last quarter. Gillson Capital LP acquired a new stake in shares of Thomson Reuters during the 4th quarter valued at about $15,063,000. Finally, Bessemer Group Inc. increased its holdings in Thomson Reuters by 874.0% in the first quarter. Bessemer Group Inc. now owns 130,744 shares of the business services provider’s stock worth $20,351,000 after buying an additional 117,320 shares during the last quarter. Institutional investors own 17.31% of the company’s stock.

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.