Thomson Reuters (TSE:TRI) Sets New 52-Week High After Dividend Announcement

Thomson Reuters Co. (TSE:TRI) (NYSE:TRI) shares hit a new 52-week high during trading on Thursday following a dividend announcement from the company. The stock traded as high as C$219.12 and last traded at C$218.23, with a volume of 133007 shares traded. The stock had previously closed at C$208.41.

The newly announced dividend which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Wednesday, May 15th. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.54. Thomson Reuters’s payout ratio is currently 37.36%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TRI shares. Royal Bank of Canada raised their price target on shares of Thomson Reuters from C$149.00 to C$153.00 and gave the stock a “sector perform” rating in a research report on Friday, February 9th. TD Securities lifted their target price on Thomson Reuters from C$225.00 to C$230.00 and gave the company a “hold” rating in a research note on Friday. BMO Capital Markets increased their price target on Thomson Reuters from C$211.00 to C$222.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Canaccord Genuity Group boosted their price objective on Thomson Reuters from C$147.00 to C$149.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Finally, National Bank Financial cut Thomson Reuters from a “sector perform under weight” rating to an “underperform underweight” rating in a research note on Tuesday, February 20th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$183.33.

Thomson Reuters Stock Performance

The company has a debt-to-equity ratio of 32.01, a current ratio of 0.90 and a quick ratio of 0.52. The firm has a market capitalization of C$101.70 billion, a PE ratio of 28.92, a P/E/G ratio of 3.64 and a beta of 0.38. The firm has a fifty day moving average price of C$211.18 and a 200 day moving average price of C$198.08.

Thomson Reuters (TSE:TRI) (NYSE:TRI) last posted its quarterly earnings data on Thursday, February 8th. The company reported C$1.34 EPS for the quarter, beating analysts’ consensus estimates of C$1.25 by C$0.09. The company had revenue of C$2.47 billion during the quarter, compared to analyst estimates of C$2.52 billion. Thomson Reuters had a net margin of 39.67% and a return on equity of 23.06%. Research analysts anticipate that Thomson Reuters Co. will post 4.9537409 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Senior Officer David Franklin Wong sold 600 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of C$158.99, for a total transaction of C$95,392.80. In other Thomson Reuters news, Director Linda Walker sold 4,750 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of C$156.75, for a total value of C$744,562.50. Also, Senior Officer David Franklin Wong sold 600 shares of Thomson Reuters stock in a transaction on Friday, February 9th. The shares were sold at an average price of C$158.99, for a total transaction of C$95,392.80. Corporate insiders own 69.49% of the company’s stock.

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.