Thomson Reuters (NYSE:TRI) Hits New 12-Month Low – Here’s What Happened

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $81.91 and last traded at $83.20, with a volume of 2510238 shares changing hands. The stock had previously closed at $86.89.

Wall Street Analyst Weigh In

Several research firms have commented on TRI. The Goldman Sachs Group set a $111.00 price target on Thomson Reuters and gave the stock a “buy” rating in a research report on Saturday, February 7th. Canaccord Genuity Group cut their target price on shares of Thomson Reuters from $174.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. Royal Bank Of Canada upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating and set a $126.00 price target for the company in a research report on Tuesday, February 10th. Canadian Imperial Bank of Commerce set a $183.00 price target on shares of Thomson Reuters and gave the stock an “outperformer” rating in a research note on Friday, January 16th. Finally, Scotiabank restated an “outperform” rating and issued a $156.00 price objective (down from $189.00) on shares of Thomson Reuters in a research note on Friday, February 6th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $156.42.

Thomson Reuters Trading Down 4.2%

The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The company’s fifty day moving average price is $118.55 and its two-hundred day moving average price is $144.07. The firm has a market cap of $37.03 billion, a PE ratio of 17.01, a P/E/G ratio of 5.67 and a beta of 0.79.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Thursday, February 5th. The business services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $2 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, February 17th. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.60. Thomson Reuters’s payout ratio is presently 78.68%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Thomson Reuters by 4.6% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 1,414 shares of the business services provider’s stock worth $284,000 after acquiring an additional 62 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in Thomson Reuters by 30.9% during the second quarter. SBI Securities Co. Ltd. now owns 309 shares of the business services provider’s stock worth $62,000 after purchasing an additional 73 shares during the last quarter. UMB Bank n.a. boosted its position in Thomson Reuters by 21.2% during the third quarter. UMB Bank n.a. now owns 441 shares of the business services provider’s stock worth $69,000 after purchasing an additional 77 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in Thomson Reuters by 50.0% in the third quarter. Cullen Frost Bankers Inc. now owns 249 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 83 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Thomson Reuters by 3.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,274 shares of the business services provider’s stock valued at $659,000 after buying an additional 95 shares in the last quarter. 17.31% of the stock is currently owned by institutional investors and hedge funds.

About Thomson Reuters

Thomson Reuters (NYSE: TRI) is a multinational information and media company that provides content, technology and services to professionals in the legal, tax & accounting, compliance, risk, corporate and media sectors. Headquartered in Toronto, Canada, the company combines news and editorial content from the Reuters news agency with specialist workflow platforms and databases designed to support decision-making and regulatory compliance across industries worldwide.

The company’s product portfolio spans legal research and workflow tools, tax and accounting software, regulatory and risk management solutions, and real-time news and data services.