Thomson Reuters (NASDAQ:TRI) Stock Rating Lowered by Zacks Research

Thomson Reuters (NASDAQ:TRI) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday, Zacks reports.

Several other research analysts also recently commented on the stock. Scotia lowered their price objective on shares of Thomson Reuters from $138.00 to $135.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 6th. JPMorgan Chase & Co. lifted their target price on shares of Thomson Reuters from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 4th. Scotiabank restated a “sector outperform” rating and issued a $135.00 price target on shares of Thomson Reuters in a research report on Thursday, August 6th. TD Securities reissued a “buy” rating on shares of Thomson Reuters in a research note on Thursday, August 6th. Finally, Weiss Ratings cut shares of Thomson Reuters from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, November 9th. Eleven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $128.96.

Thomson Reuters Stock Performance

Shares of TRI traded up $0.05 during mid-day trading on Thursday, reaching $109.30. The company’s stock had a trading volume of 1,380,309 shares, compared to its average volume of 1,895,142. Thomson Reuters has a 1-year low of $76.28 and a 1-year high of $142.04. The business has a 50-day simple moving average of $106.04 and a two-hundred day simple moving average of $96.73. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. The stock has a market cap of $47.38 billion, a P/E ratio of 30.52, a PEG ratio of 2.23 and a beta of 0.69.

Thomson Reuters (NASDAQ:TRI) last announced its earnings results on Tuesday, November 3rd. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.08). The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.80 billion. Thomson Reuters had a return on equity of 15.72% and a net margin of 20.02%. Thomson Reuters’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. As a group, equities research analysts anticipate that Thomson Reuters will post 4.20 earnings per share for the current fiscal year.

Thomson Reuters declared that its board has authorized a stock repurchase program on Wednesday, November 11th that permits the company to buy back $500 million in outstanding shares. This repurchase authorization permits the company to buy up to 1.1% of its shares through open market purchases. Share repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Thomson Reuters

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its stake in Thomson Reuters by 48.7% in the 1st quarter. Bank of America Corp DE now owns 1,627,069 shares of the company’s stock worth $146,404,000 after purchasing an additional 532,803 shares during the period. TD Waterhouse Canada Inc. boosted its position in Thomson Reuters by 13.2% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,468,484 shares of the company’s stock valued at $143,304,000 after acquiring an additional 171,375 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Thomson Reuters by 33.3% during the first quarter. First Trust Advisors LP now owns 1,588,756 shares of the company’s stock valued at $142,956,000 after purchasing an additional 397,150 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Thomson Reuters by 65.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,500,365 shares of the company’s stock valued at $135,297,000 after buying an additional 591,642 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Thomson Reuters in the 2nd quarter worth approximately $107,223,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Company Profile

Thomson Reuters is a global provider of information, software and services for legal, tax, accounting, compliance, risk and financial professionals. Its products help customers research complex issues, manage workflows and make informed decisions. Key offerings include Westlaw and Practical Law for legal research and practice management, Checkpoint for tax and accounting research, and ONESOURCE for tax and trade compliance. The company also provides news and information through Reuters, its global news organization.