Thomson Reuters Corp (TRI) Downgraded by Zacks Investment Research to Hold
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.
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 topic of several other reports. Macquarie raised shares of Thomson Reuters Corp to a “buy” rating and upped their target price for the stock from $51.00 to $58.00 in a research note on Tuesday, October 3rd. Credit Suisse Group initiated coverage on shares of Thomson Reuters Corp in a research note on Tuesday, October 24th. They set a “neutral” rating and a $52.00 target price on the stock. TD Securities raised shares of Thomson Reuters Corp from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Scotiabank upped their target price on shares of Thomson Reuters Corp from $45.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 2nd. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $49.00 price target (up previously from $48.00) on shares of Thomson Reuters Corp in a report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, seven 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 a consensus target price of $52.25.
Thomson Reuters Corp (NYSE:TRI) opened at $44.58 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.48. The firm has a market cap of $31,775.76, a price-to-earnings ratio of 17.71, a price-to-earnings-growth ratio of 2.17 and a beta of 0.74.
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last announced its earnings results on Wednesday, November 1st. The business services provider reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.10. Thomson Reuters Corp had a net margin of 27.20% and a return on equity of 13.92%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter last year, the business earned $0.54 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. analysts predict that Thomson Reuters Corp will post 2.46 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of TRI. Candriam Luxembourg S.C.A. grew its stake in Thomson Reuters Corp by 379.8% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 211,870 shares of the business services provider’s stock valued at $9,699,000 after acquiring an additional 167,714 shares in the last quarter. State of Wisconsin Investment Board raised its stake in shares of Thomson Reuters Corp by 25.6% in the third quarter. State of Wisconsin Investment Board now owns 269,147 shares of the business services provider’s stock valued at $12,321,000 after purchasing an additional 54,900 shares in the last quarter. Stevens Capital Management LP acquired a new position in shares of Thomson Reuters Corp in the third quarter valued at $560,000. Cumberland Partners Ltd acquired a new position in shares of Thomson Reuters Corp in the third quarter valued at $458,000. Finally, Cidel Asset Management Inc. raised its stake in shares of Thomson Reuters Corp by 8.9% in the third quarter. Cidel Asset Management Inc. now owns 89,158 shares of the business services provider’s stock valued at $4,080,000 after purchasing an additional 7,301 shares in the last quarter. Hedge funds and other institutional investors own 26.07% 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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