Thomson Reuters Corp (TRI) Downgraded to “Hold” at Zacks Investment Research
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
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. “
Other equities research analysts have also issued research reports about the stock. Deutsche Bank AG raised shares of Thomson Reuters Corp from a “hold” rating to a “buy” rating and upped their target price for the stock from $44.00 to $50.00 in a report on Monday, June 19th. BidaskClub raised shares of Thomson Reuters Corp from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Macquarie raised shares of Thomson Reuters Corp to a “buy” rating and raised their price target for the stock from $51.00 to $58.00 in a research note on Tuesday. TD Securities upgraded shares of Thomson Reuters Corp from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Finally, Scotiabank boosted their price target 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Thomson Reuters Corp has an average rating of “Hold” and a consensus price target of $51.00.
Shares of Thomson Reuters Corp (NYSE TRI) traded up 0.78% during midday trading on Wednesday, reaching $46.47. 370,285 shares of the company traded hands. The firm has a market capitalization of $33.21 billion, a PE ratio of 11.41 and a beta of 0.75. Thomson Reuters Corp has a 1-year low of $39.23 and a 1-year high of $48.57. The stock has a 50 day moving average price of $45.71 and a 200 day moving average price of $44.97.
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.09. Thomson Reuters Corp had a return on equity of 13.64% and a net margin of 26.81%. The firm had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the prior year, the company earned $0.50 EPS. The firm’s revenue was up .5% compared to the same quarter last year. Analysts expect that Thomson Reuters Corp will post $2.44 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. Huntington National Bank acquired a new position in Thomson Reuters Corp in the second quarter valued at about $106,000. Tyers Asset Management LLC purchased a new position in Thomson Reuters Corp during the fourth quarter worth about $126,000. ETF Managers Group LLC acquired a new stake in shares of Thomson Reuters Corp during the second quarter valued at about $127,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Thomson Reuters Corp by 132.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,195 shares of the business services provider’s stock valued at $130,000 after acquiring an additional 1,819 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in shares of Thomson Reuters Corp by 37.0% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,739 shares of the business services provider’s stock valued at $152,000 after acquiring an additional 1,009 shares during the last quarter. Institutional investors own 26.15% 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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