Thomson Reuters (NASDAQ:TRI) Shares Gap Up – Here’s Why

Thomson Reuters Corp (NASDAQ:TRI) shares gapped up prior to trading on Tuesday . The stock had previously closed at $76.55, but opened at $78.93. Thomson Reuters shares last traded at $79.1810, with a volume of 197,108 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TRI. TD Securities reissued a “buy” rating on shares of Thomson Reuters in a report on Wednesday, May 6th. Scotiabank set a $138.00 target price on shares of Thomson Reuters and gave the company a “sector outperform” rating in a report on Wednesday, May 6th. UBS Group set a $185.74 target price on shares of Thomson Reuters and gave the company a “buy” rating in a research report on Thursday, April 23rd. Weiss Ratings upgraded shares of Thomson Reuters from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 8th. Finally, Barclays restated an “overweight” rating and issued a $130.00 price objective (down from $170.00) on shares of Thomson Reuters in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Thomson Reuters has an average rating of “Moderate Buy” and a consensus target price of $144.84.

Thomson Reuters Stock Up 3.8%

The business’s fifty day moving average price is $87.20 and its 200 day moving average price is $102.68. The firm has a market capitalization of $34.67 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 1.17 and a beta of 0.77. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.11.

Thomson Reuters (NASDAQ:TRI) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.05. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2 billion. Thomson Reuters had a net margin of 19.93% and a return on equity of 14.99%. Thomson Reuters’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $1.12 EPS. On average, equities analysts expect that Thomson Reuters Corp will post 4.44 EPS for the current year.

Thomson Reuters Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a $0.655 dividend. This represents a $2.62 annualized dividend and a yield of 3.3%. The ex-dividend date was Wednesday, May 20th. Thomson Reuters’s payout ratio is 76.16%.

Institutional Trading of Thomson Reuters

A number of hedge funds have recently added to or reduced their stakes in TRI. Penbrook Management LLC increased its stake in Thomson Reuters by 0.4% in the 4th quarter. Penbrook Management LLC now owns 24,948 shares of the company’s stock valued at $3,297,000 after buying an additional 100 shares during the period. Public Sector Pension Investment Board boosted its holdings in shares of Thomson Reuters by 0.8% in the second quarter. Public Sector Pension Investment Board now owns 13,098 shares of the company’s stock valued at $2,629,000 after acquiring an additional 100 shares in the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of Thomson Reuters by 1.8% in the fourth quarter. Evergreen Capital Management LLC now owns 5,743 shares of the company’s stock valued at $757,000 after acquiring an additional 101 shares in the last quarter. Natixis Advisors LLC boosted its holdings in shares of Thomson Reuters by 0.6% in the third quarter. Natixis Advisors LLC now owns 16,424 shares of the company’s stock valued at $2,551,000 after acquiring an additional 103 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Thomson Reuters by 1.3% during the first quarter. PNC Financial Services Group Inc. now owns 9,834 shares of the company’s stock worth $885,000 after acquiring an additional 130 shares during the period. 17.31% of the stock is owned by institutional investors and hedge funds.

Thomson Reuters Company Profile

Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies real‐time journalism to media organizations worldwide.

Formed in 2008 through the merger of Canada’s Thomson Corporation (founded in 1934) and the UK’s Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.