StockNews.com Upgrades Thomson Reuters (NYSE:TRI) to “Hold”

Thomson Reuters (NYSE:TRI) (TSE:TRI) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

TRI has been the subject of several other research reports. Wells Fargo & Company assumed coverage on shares of Thomson Reuters in a research report on Tuesday, November 26th. They issued an “equal weight” rating and a $165.00 target price for the company. Scotiabank boosted their price objective on Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a report on Wednesday, November 6th. Royal Bank of Canada increased their target price on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 6th. Finally, CIBC boosted their price target on Thomson Reuters from $164.00 to $165.00 and gave the company a “neutral” rating in a report on Friday, January 3rd. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $176.10.

Thomson Reuters Stock Performance

NYSE TRI opened at $159.64 on Wednesday. The business’s 50-day moving average price is $164.34 and its 200 day moving average price is $165.85. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. Thomson Reuters has a twelve month low of $142.80 and a twelve month high of $176.03. The company has a market capitalization of $71.83 billion, a PE ratio of 31.43, a price-to-earnings-growth ratio of 5.69 and a beta of 0.72.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Tuesday, November 5th. The business services provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the company earned $0.82 EPS. The company’s revenue was up 8.2% on a year-over-year basis. On average, research analysts predict that Thomson Reuters will post 3.69 earnings per share for the current year.

Hedge Funds Weigh In On Thomson Reuters

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in Thomson Reuters by 0.8% during the third quarter. FMR LLC now owns 7,209,202 shares of the business services provider’s stock valued at $1,229,716,000 after acquiring an additional 57,854 shares during the period. Fiera Capital Corp increased its stake in shares of Thomson Reuters by 1.0% in the third quarter. Fiera Capital Corp now owns 2,684,883 shares of the business services provider’s stock worth $458,559,000 after purchasing an additional 27,714 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Thomson Reuters by 11.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider’s stock worth $439,665,000 after purchasing an additional 255,387 shares during the last quarter. Clearbridge Investments LLC boosted its stake in Thomson Reuters by 9.4% during the 2nd quarter. Clearbridge Investments LLC now owns 1,458,700 shares of the business services provider’s stock valued at $245,893,000 after purchasing an additional 125,167 shares during the period. Finally, Cibc World Market Inc. grew its holdings in Thomson Reuters by 26.3% in the 2nd quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider’s stock valued at $223,525,000 after buying an additional 276,206 shares during the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

About Thomson Reuters

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.