Thomson Reuters (NASDAQ:TRI) Sets New 1-Year Low – What’s Next?

Thomson Reuters Corp (NASDAQ:TRI)’s share price reached a new 52-week low on Thursday . The stock traded as low as $79.60 and last traded at $79.82, with a volume of 486925 shares changing hands. The stock had previously closed at $82.03.

Analyst Ratings Changes

TRI has been the subject of several research reports. The Goldman Sachs Group set a $112.66 target price on shares of Thomson Reuters and gave the company a “buy” rating in a report on Saturday, February 7th. Canaccord Genuity Group dropped their target price on shares of Thomson Reuters from $176.61 to $131.95 and set a “buy” rating for the company in a report on Wednesday, February 4th. Wells Fargo & Company lifted their target price on shares of Thomson Reuters from $87.00 to $97.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Royal Bank Of Canada upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating and set a $127.89 target price for the company in a report on Tuesday, February 10th. Finally, Canadian Imperial Bank of Commerce set a $185.74 target price on shares of Thomson Reuters and gave the company an “outperformer” rating in a report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Thomson Reuters currently has an average rating of “Moderate Buy” and an average price target of $146.28.

Thomson Reuters Trading Down 3.9%

The company’s 50 day simple moving average is $94.49 and its 200 day simple moving average is $114.62. The firm has a market cap of $34.40 billion, a price-to-earnings ratio of 22.94, a P/E/G ratio of 1.30 and a beta of 0.80. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.60 and a quick ratio of 0.60.

Thomson Reuters (NASDAQ:TRI) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.18 by $0.05. The business had revenue of $2.04 billion during 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%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.12 earnings per share. As a group, research analysts expect that Thomson Reuters Corp will post 4.44 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be paid a dividend of $0.655 per share. The ex-dividend date is Wednesday, May 20th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 3.3%. Thomson Reuters’s payout ratio is presently 77.33%.

Hedge Funds Weigh In On Thomson Reuters

Institutional investors and hedge funds have recently modified their holdings of the company. Empowered Funds LLC acquired a new position in shares of Thomson Reuters during the fourth quarter worth $30,000. Cullen Frost Bankers Inc. grew its stake in shares of Thomson Reuters by 50.0% during the third quarter. Cullen Frost Bankers Inc. now owns 249 shares of the company’s stock worth $39,000 after purchasing an additional 83 shares in the last quarter. Timmons Wealth Management LLC acquired a new position in shares of Thomson Reuters during the fourth quarter worth $42,000. Montag A & Associates Inc. acquired a new position in shares of Thomson Reuters during the fourth quarter worth $43,000. Finally, Westside Investment Management Inc. grew its stake in shares of Thomson Reuters by 100.0% during the third quarter. Westside Investment Management Inc. now owns 338 shares of the company’s stock worth $52,000 after purchasing an additional 169 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

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.