Thomson Reuters (NASDAQ:TRI) Sets New 12-Month Low – Should You Sell?

Thomson Reuters Corp (NASDAQ:TRI)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $77.08 and last traded at $78.4510, with a volume of 206780 shares traded. The stock had previously closed at $79.25.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TRI shares. Bank of America lowered their price objective on Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 19th. Weiss Ratings upgraded Thomson Reuters from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 8th. TD Securities restated a “buy” rating on shares of Thomson Reuters in a research report on Wednesday, May 6th. Barclays reiterated an “overweight” rating and set a $130.00 price target (down from $170.00) on shares of Thomson Reuters in a research report on Friday, May 8th. Finally, Scotiabank set a $138.00 price target on Thomson Reuters and gave the stock a “sector outperform” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $144.84.

Thomson Reuters Stock Down 1.2%

The company has a market cap of $34.16 billion, a PE ratio of 22.76, a P/E/G ratio of 1.21 and a beta of 0.77. The business has a 50-day simple moving average of $87.79 and a 200-day simple moving average of $103.91. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.11.

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

Thomson Reuters Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a dividend of $0.655 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 3.3%. Thomson Reuters’s dividend payout ratio is presently 76.16%.

Hedge Funds Weigh In On Thomson Reuters

A number of hedge funds have recently made changes to their positions in TRI. Brighton Jones LLC acquired a new position in shares of Thomson Reuters during the fourth quarter valued at approximately $448,000. AQR Capital Management LLC raised its holdings in shares of Thomson Reuters by 30.3% during the first quarter. AQR Capital Management LLC now owns 17,152 shares of the company’s stock valued at $2,964,000 after acquiring an additional 3,988 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Thomson Reuters during the first quarter valued at approximately $205,000. Prudential Financial Inc. acquired a new position in shares of Thomson Reuters during the second quarter valued at approximately $234,000. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Thomson Reuters during the second quarter valued at approximately $646,000. Institutional investors and hedge funds own 17.31% of the company’s stock.

About Thomson Reuters

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.