Thomson Reuters (NYSE:TRI) Sets New 1-Year High – Here’s What Happened

Shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) hit a new 52-week high on Monday . The stock traded as high as $180.33 and last traded at $180.32, with a volume of 7876 shares traded. The stock had previously closed at $178.82.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TRI shares. Canaccord Genuity Group increased their price target on Thomson Reuters from $164.00 to $175.00 and gave the company a “hold” rating in a research note on Friday, February 7th. Royal Bank of Canada increased their price objective on shares of Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their target price on shares of Thomson Reuters from $175.00 to $177.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. StockNews.com cut shares of Thomson Reuters from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company lifted their price objective on shares of Thomson Reuters from $165.00 to $177.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $182.09.

Thomson Reuters Stock Performance

The stock has a market capitalization of $79.21 billion, a price-to-earnings ratio of 35.99, a price-to-earnings-growth ratio of 5.67 and a beta of 0.73. The firm has a fifty day moving average of $167.67 and a 200 day moving average of $167.38. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. On average, sell-side analysts anticipate that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Thursday, February 20th will be paid a dividend of $0.595 per share. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.54. This represents a $2.38 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Thursday, February 20th. Thomson Reuters’s dividend payout ratio is presently 48.67%.

Hedge Funds Weigh In On Thomson Reuters

Several institutional investors and hedge funds have recently modified their holdings of TRI. Aigen Investment Management LP grew its holdings in Thomson Reuters by 87.4% in the third quarter. Aigen Investment Management LP now owns 7,326 shares of the business services provider’s stock valued at $1,250,000 after purchasing an additional 3,417 shares during the period. Meridian Wealth Management LLC acquired a new position in shares of Thomson Reuters during the third quarter valued at approximately $4,506,000. Atomi Financial Group Inc. lifted its position in shares of Thomson Reuters by 16.1% in the fourth quarter. Atomi Financial Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $292,000 after acquiring an additional 252 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Thomson Reuters by 52.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider’s stock worth $185,011,000 after acquiring an additional 395,481 shares during the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in shares of Thomson Reuters during the third quarter worth approximately $2,127,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Company Profile

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.