Thomson Reuters (TRI) Lifted to “Buy” at ValuEngine

Thomson Reuters (NYSE:TRI) (TSE:TRI) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Thursday.

A number of other research firms have also recently issued reports on TRI. Zacks Investment Research raised shares of Thomson Reuters from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Friday, January 5th. Scotiabank reissued a “buy” rating and set a $52.00 price objective (down previously from $54.00) on shares of Thomson Reuters in a research report on Wednesday, January 31st. Morgan Stanley increased their price objective on shares of Thomson Reuters from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, October 23rd. Royal Bank of Canada reissued a “hold” rating and set a $48.00 price objective on shares of Thomson Reuters in a research report on Wednesday, January 24th. Finally, Canaccord Genuity reissued a “hold” rating and set a $46.00 price objective on shares of Thomson Reuters in a research report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $50.23.

Shares of Thomson Reuters (TRI) traded down $0.17 on Thursday, reaching $39.39. 1,578,218 shares of the company’s stock were exchanged, compared to its average volume of 1,569,204. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $28,028.35, a PE ratio of 15.69, a P/E/G ratio of 2.73 and a beta of 0.65. Thomson Reuters has a twelve month low of $39.01 and a twelve month high of $48.61.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. The business had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Thomson Reuters had a net margin of 12.31% and a return on equity of 13.70%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. research analysts forecast that Thomson Reuters will post 1.63 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in TRI. CIBC Asset Management Inc lifted its position in 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 acquiring an additional 909,851 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Thomson Reuters in the 3rd quarter valued at about $41,447,000. Mackenzie Financial Corp lifted its position in Thomson Reuters by 223.5% in the 3rd quarter. Mackenzie Financial Corp now owns 1,123,906 shares of the business services provider’s stock valued at $51,565,000 after acquiring an additional 776,445 shares in the last quarter. Citadel Advisors LLC increased its stake in Thomson Reuters by 148.9% in the 3rd quarter. Citadel Advisors LLC now owns 1,232,613 shares of the business services provider’s stock valued at $56,556,000 after buying an additional 737,370 shares during the last quarter. Finally, Hexavest Inc. purchased a new stake in Thomson Reuters in the 4th quarter valued at about $10,562,000. 24.30% of the stock is currently owned by institutional investors and hedge funds.

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Thomson Reuters Company Profile

Thomson Reuters Corp (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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Thomson Reuters (NYSE:TRI)

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