Thomson Reuters (NASDAQ:TRI) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Thomson Reuters Corp (NASDAQ:TRI) saw unusually-strong trading volume on Tuesday . Approximately 4,874,060 shares were traded during trading, an increase of 111% from the previous session’s volume of 2,307,919 shares.The stock last traded at $101.3120 and had previously closed at $99.06.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. 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. Royal Bank Of Canada upped their price target on shares of Thomson Reuters from $121.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Wells Fargo & Company set a $85.00 price objective on shares of Thomson Reuters and gave the company an “equal weight” rating in a research note on Tuesday, June 30th. Weiss Ratings lowered shares of Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. Finally, Barclays reissued 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 assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $142.83.

Thomson Reuters Price Performance

The firm has a market capitalization of $44.19 billion, a P/E ratio of 27.01, a P/E/G ratio of 1.52 and a beta of 0.75. The stock’s fifty day simple moving average is $91.26 and its 200 day simple moving average is $92.27. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.51 and a quick ratio of 0.51.

Thomson Reuters (NASDAQ:TRI) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the firm earned $0.87 EPS. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, equities research analysts predict that Thomson Reuters Corp will post 4.45 EPS for the current year.

Thomson Reuters Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Wednesday, August 19th. Thomson Reuters’s dividend payout ratio is currently 69.68%.

Institutional Investors Weigh In On Thomson Reuters

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC purchased a new stake in shares of Thomson Reuters during the fourth quarter worth about $30,000. Timmons Wealth Management LLC purchased a new stake in Thomson Reuters during the 4th quarter worth approximately $42,000. Montag A & Associates Inc. acquired a new position in Thomson Reuters during the 4th quarter valued at approximately $43,000. Western Wealth Management LLC acquired a new stake in shares of Thomson Reuters during the first quarter worth $48,000. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Thomson Reuters during the fourth quarter valued at $56,000. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

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.