Thomson Reuters Corp (TRI) Stock Rating Upgraded by Zacks Investment Research
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $51.00 price objective on the business services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 12.16% from the company’s previous close.
According to Zacks, “Thomson Corporation is a leading provider of value-added information and technology to users in the fields of law, tax, accounting, financial services, higher education, reference information, corporate training and assessment, scientific research and healthcare. “
TRI has been the subject of a number of other research reports. Deutsche Bank AG upgraded shares of Thomson Reuters Corp from a “hold” rating to a “buy” rating and increased their price target for the stock from $44.00 to $50.00 in a research note on Monday, June 19th. BidaskClub upgraded shares of Thomson Reuters Corp from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Scotiabank upped their price objective on shares of Thomson Reuters Corp from $45.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 2nd. Morgan Stanley restated an “equal weight” rating and set a $49.00 price objective (up previously from $48.00) on shares of Thomson Reuters Corp in a research report on Tuesday, July 18th. Finally, TD Securities cut their price objective on shares of Thomson Reuters Corp from $65.00 to $61.00 and set a “hold” rating for the company in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $50.36.
Thomson Reuters Corp (TRI) opened at 45.47 on Tuesday. The company’s 50 day moving average is $46.20 and its 200 day moving average is $44.61. Thomson Reuters Corp has a one year low of $39.23 and a one year high of $48.57. The stock has a market cap of $32.50 billion, a PE ratio of 11.17 and a beta of 0.75.
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.09. The firm had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.78 billion. Thomson Reuters Corp had a net margin of 26.81% and a return on equity of 13.64%. Thomson Reuters Corp’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS. On average, equities research analysts expect that Thomson Reuters Corp will post $2.44 EPS for the current year.
Thomson Reuters Corp declared that its Board of Directors has initiated a share buyback plan on Wednesday, May 24th that authorizes the company to repurchase 36,000,000 shares. This repurchase authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
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Several institutional investors and hedge funds have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of Thomson Reuters Corp in the 2nd quarter valued at about $303,000. Bank of Nova Scotia increased its holdings in shares of Thomson Reuters Corp by 5.9% in the 2nd quarter. Bank of Nova Scotia now owns 754,949 shares of the business services provider’s stock valued at $34,965,000 after purchasing an additional 42,095 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Thomson Reuters Corp by 24.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 9,698 shares of the business services provider’s stock valued at $449,000 after purchasing an additional 1,919 shares in the last quarter. Troy Asset Management Ltd purchased a new position in shares of Thomson Reuters Corp in the 2nd quarter valued at about $5,507,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Thomson Reuters Corp by 220.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 12,074 shares of the business services provider’s stock valued at $725,000 after purchasing an additional 8,311 shares in the last quarter. Institutional investors and hedge funds own 26.16% of the company’s stock.
About Thomson Reuters Corp
Thomson Reuters Corporation (Thomson Reuters) is a Canada-based provider of news and information for professional markets. The Company is organized in three business units: Financial & Risk, Legal, and Tax & Accounting. The Financial & Risk unit is a provider of critical news, information and analytics, enabling transactions and connecting communities of trading, investment, financial and corporate professionals.
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