IMS Capital Management Acquires 870 Shares of Thomson Reuters Co. (NYSE:TRI)

IMS Capital Management raised its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 36.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 3,243 shares of the business services provider’s stock after purchasing an additional 870 shares during the quarter. IMS Capital Management’s holdings in Thomson Reuters were worth $531,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Rothschild Investment LLC bought a new stake in shares of Thomson Reuters during the second quarter worth approximately $25,000. EverSource Wealth Advisors LLC increased its stake in shares of Thomson Reuters by 76.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 80 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Thomson Reuters in the 2nd quarter valued at approximately $73,000. Northwest Investment Counselors LLC bought a new position in Thomson Reuters during the 1st quarter worth approximately $78,000. Finally, Opal Wealth Advisors LLC acquired a new position in Thomson Reuters during the first quarter valued at approximately $85,000. 17.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Thomson Reuters Stock Up 0.5 %

NYSE:TRI opened at $170.58 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.88 and a quick ratio of 0.88. Thomson Reuters Co. has a one year low of $117.46 and a one year high of $176.03. The firm’s 50 day simple moving average is $166.34 and its 200 day simple moving average is $164.23. The company has a market cap of $76.71 billion, a PE ratio of 32.49, a P/E/G ratio of 5.71 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. On average, research 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 disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a $0.146 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Thursday, August 15th. Thomson Reuters’s payout ratio is 41.14%.

Thomson Reuters 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.