Thomson Reuters (TRI) Lifted to “Outperform” at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Thomson Reuters (NYSE:TRI) (TSE:TRI) from a sector perform rating to an outperform rating in a report issued on Monday, Marketbeat.com reports. The firm currently has $44.00 target price on the business services provider’s stock. The analysts noted that the move was a valuation call.

A number of other analysts have also recently weighed in on the stock. National Bank Financial cut shares of Thomson Reuters from an outperform rating to a sector perform rating in a research note on Wednesday, January 31st. Zacks Investment Research cut shares of Thomson Reuters from a buy rating to a hold rating in a research note on Friday, February 2nd. Edward Jones cut shares of Thomson Reuters from a buy rating to a hold rating in a research note on Thursday, February 1st. Credit Suisse Group reiterated a hold rating on shares of Thomson Reuters in a research note on Friday, February 9th. Finally, Morgan Stanley decreased their price target on shares of Thomson Reuters from $49.00 to $47.00 and set an equal weight rating for the company in a research note on Friday, February 9th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $46.79.

Shares of NYSE:TRI opened at $39.07 on Monday. The firm has a market cap of $27.31 billion, a P/E ratio of 15.57, a price-to-earnings-growth ratio of 8.15 and a beta of 0.68. The company has a quick ratio of 0.62, a current ratio of 3.08 and a debt-to-equity ratio of 0.40. Thomson Reuters has a 1-year low of $38.15 and a 1-year high of $38.81.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Friday, May 11th. The business services provider reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.30). The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $2.91 billion. Thomson Reuters had a return on equity of 11.61% and a net margin of 7.67%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. research analysts expect that Thomson Reuters will post 0.67 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 17th will be paid a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Wednesday, May 16th. Thomson Reuters’s dividend payout ratio (DPR) is presently 54.98%.

Several hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its stake in shares of Thomson Reuters by 1,010.4% in the 4th quarter. Mackenzie Financial Corp now owns 12,479,906 shares of the business services provider’s stock worth $543,999,000 after acquiring an additional 11,356,000 shares during the period. Altrinsic Global Advisors LLC increased its holdings in shares of Thomson Reuters by 21.2% in the 1st quarter. Altrinsic Global Advisors LLC now owns 3,244,289 shares of the business services provider’s stock valued at $125,292,000 after purchasing an additional 567,365 shares in the last quarter. Mawer Investment Management Ltd. increased its holdings in shares of Thomson Reuters by 6.9% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,912,917 shares of the business services provider’s stock valued at $112,474,000 after purchasing an additional 189,159 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Thomson Reuters by 8.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,818,887 shares of the business services provider’s stock valued at $108,949,000 after purchasing an additional 212,594 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Thomson Reuters by 85.1% in the 4th quarter. CIBC Asset Management Inc now owns 1,978,530 shares of the business services provider’s stock valued at $86,592,000 after purchasing an additional 909,851 shares in the last quarter. Institutional investors own 25.48% of the company’s stock.

Thomson Reuters Company Profile

Thomson Reuters Corporation provides news and information for professional markets worldwide. The company operates through three segments: Financial & Risk, Legal, and Tax & Accounting. It sells electronic content and services to professionals primarily on a subscription basis. The Financial & Risk segment offers critical news, information, and analytics enabling transactions and connecting communities of trading, investment, financial, and corporate professionals.

Analyst Recommendations for Thomson Reuters (NYSE:TRI)

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