Thomson Reuters (NYSE:TRI) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Thomson Reuters (NYSE:TRI) (TSE:TRI) in a report released on Tuesday, MarketBeat.com reports. The firm issued an equal weight rating and a $165.00 target price on the business services provider’s stock.

Several other research analysts have also weighed in on the company. StockNews.com lowered Thomson Reuters from a “hold” rating to a “sell” rating in a research report on Friday, November 22nd. Scotiabank increased their price target on Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price objective on shares of Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 9th. Finally, Royal Bank of Canada lifted their price target 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. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Thomson Reuters has an average rating of “Hold” and an average target price of $175.20.

Thomson Reuters Stock Up 0.0 %

Shares of TRI opened at $160.79 on Tuesday. Thomson Reuters has a 52-week low of $138.30 and a 52-week high of $176.03. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $166.99 and a two-hundred day simple moving average of $167.15. The company has a market capitalization of $72.34 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 5.45 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its earnings results on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. Thomson Reuters’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.82 earnings per share. As a group, equities analysts forecast that Thomson Reuters will post 3.69 EPS for the current year.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be issued a $0.54 dividend. The ex-dividend date is Thursday, November 21st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.34%. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.15. Thomson Reuters’s payout ratio is 42.52%.

Hedge Funds Weigh In On Thomson Reuters

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rothschild Investment LLC acquired a new stake in shares of Thomson Reuters in the second quarter valued at $25,000. EverSource Wealth Advisors LLC increased its holdings in Thomson Reuters by 76.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock worth $28,000 after purchasing an additional 80 shares during the period. Asset Dedication LLC raised its position in Thomson Reuters by 125.0% in the 3rd quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 130 shares in the last quarter. Clean Yield Group purchased a new position in shares of Thomson Reuters in the 3rd quarter valued at about $42,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Thomson Reuters during the third quarter worth about $47,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

About Thomson Reuters

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.