Thomson Reuters (NYSE:TRI) Hits New 52-Week High on Better-Than-Expected Earnings

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) shares reached a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $176.95 and last traded at $175.92, with a volume of 60653 shares. The stock had previously closed at $169.23.

The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%.

Analysts Set New Price Targets

Several research analysts have issued reports on TRI shares. Scotiabank boosted their target price on Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. CIBC boosted their price target on Thomson Reuters from $164.00 to $165.00 and gave the company a “neutral” rating in a report on Friday, January 3rd. StockNews.com upgraded Thomson Reuters from a “sell” rating to a “hold” rating in a report on Wednesday, January 8th. Royal Bank of Canada boosted their price target on Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company started coverage on Thomson Reuters in a report on Tuesday, November 26th. They issued an “equal weight” rating and a $165.00 price target for the company. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Thomson Reuters currently has an average rating of “Hold” and a consensus target price of $176.10.

Hedge Funds Weigh In On Thomson Reuters

Several hedge funds have recently made changes to their positions in TRI. Marshall Wace LLP acquired a new position in shares of Thomson Reuters in the 2nd quarter valued at $303,000. AQR Capital Management LLC purchased a new position in shares of Thomson Reuters during the 2nd quarter valued at about $236,000. Sanctuary Advisors LLC purchased a new position in shares of Thomson Reuters during the 2nd quarter valued at about $713,000. SG Americas Securities LLC raised its stake in shares of Thomson Reuters by 59.6% during the 3rd quarter. SG Americas Securities LLC now owns 2,095 shares of the business services provider’s stock valued at $357,000 after buying an additional 782 shares during the last quarter. Finally, First Affirmative Financial Network raised its stake in shares of Thomson Reuters by 27.0% during the 3rd quarter. First Affirmative Financial Network now owns 1,912 shares of the business services provider’s stock valued at $326,000 after buying an additional 406 shares during the last quarter. 17.31% of the stock is owned by institutional investors and hedge funds.

Thomson Reuters Price Performance

The stock has a 50 day simple moving average of $163.68 and a two-hundred day simple moving average of $165.33. The firm has a market cap of $79.59 billion, a PE ratio of 34.81, a price-to-earnings-growth ratio of 5.31 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.94.

Thomson Reuters Company Profile

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.