CIBC Reaffirms Hold Rating for Thomson Reuters (TRI)

CIBC reissued their hold rating on shares of Thomson Reuters (NYSE:TRI) (TSE:TRI) in a research note released on Wednesday morning. The firm currently has a $53.00 target price on the business services provider’s stock.

Other research analysts also recently issued research reports about the stock. ValuEngine upgraded shares of Thomson Reuters from a hold rating to a buy rating in a research report on Wednesday, September 12th. Canaccord Genuity restated a buy rating and set a $50.00 price objective on shares of Thomson Reuters in a research report on Wednesday, September 5th. Zacks Investment Research upgraded shares of Thomson Reuters from a hold rating to a buy rating and set a $51.00 price objective on the stock in a research report on Wednesday, October 17th. Morgan Stanley set a $51.00 price objective on shares of Thomson Reuters and gave the company a buy rating in a research report on Monday, October 15th. Finally, National Bank Financial restated a buy rating on shares of Thomson Reuters in a research report on Wednesday, November 7th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $51.36.

NYSE:TRI opened at $50.49 on Wednesday. Thomson Reuters has a 52 week low of $36.52 and a 52 week high of $51.74. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.45 and a current ratio of 2.45. The company has a market cap of $25.75 billion, a PE ratio of 18.29, a PEG ratio of 8.25 and a beta of 0.55.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.07. Thomson Reuters had a net margin of 16.21% and a return on equity of 6.10%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the company posted $0.27 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities analysts predict that Thomson Reuters will post 0.69 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Thursday, November 15th will be given a dividend of $0.35 per share. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.35. The ex-dividend date is Wednesday, November 14th. This represents a $1.40 dividend on an annualized basis and a yield of 2.77%. Thomson Reuters’s dividend payout ratio is 55.80%.

Institutional investors have recently modified their holdings of the stock. Marshall Wace North America L.P. bought a new position in Thomson Reuters in the third quarter worth approximately $60,288,000. Vanguard Group Inc. raised its position in Thomson Reuters by 2.6% in the third quarter. Vanguard Group Inc. now owns 7,307,472 shares of the business services provider’s stock worth $333,806,000 after acquiring an additional 182,469 shares during the period. Morgan Stanley raised its position in Thomson Reuters by 562.2% in the third quarter. Morgan Stanley now owns 5,318,579 shares of the business services provider’s stock worth $242,953,000 after acquiring an additional 4,515,466 shares during the period. Nordea Investment Management AB bought a new position in Thomson Reuters in the third quarter worth approximately $6,910,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in Thomson Reuters by 110.0% in the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 978,900 shares of the business services provider’s stock worth $57,696,000 after acquiring an additional 512,800 shares during the period. Institutional investors own 33.08% 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.

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