Thomson Reuters (NYSE:TRI) Now Covered by Analysts at Wells Fargo & Company

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

A number of other research analysts have also recently issued reports on TRI. StockNews.com cut shares of Thomson Reuters from a “hold” rating to a “sell” rating in a report on Friday, November 22nd. Royal Bank of Canada lifted their price objective on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 6th. National Bank Financial raised Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. Scotiabank raised their price target 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $175.20.

Thomson Reuters Stock Performance

Shares of TRI opened at $160.79 on Tuesday. The company’s 50 day simple moving average is $166.99 and its 200-day simple moving average is $167.15. Thomson Reuters has a 12-month low of $138.30 and a 12-month high of $176.03. The firm has a market cap 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. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16.

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

Thomson Reuters Increases Dividend

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Blair William & Co. IL grew its position in shares of Thomson Reuters by 3.0% in the second quarter. Blair William & Co. IL now owns 2,286 shares of the business services provider’s stock valued at $385,000 after purchasing an additional 66 shares during the period. SkyView Investment Advisors LLC increased its stake in shares of Thomson Reuters by 1.6% during the 3rd quarter. SkyView Investment Advisors LLC now owns 4,235 shares of the business services provider’s stock valued at $722,000 after acquiring an additional 66 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Thomson Reuters by 1.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,430 shares of the business services provider’s stock worth $1,252,000 after acquiring an additional 74 shares during the period. Sivia Capital Partners LLC lifted its holdings in shares of Thomson Reuters by 4.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,646 shares of the business services provider’s stock worth $277,000 after acquiring an additional 75 shares during the period. Finally, Avitas Wealth Management LLC boosted its position in shares of Thomson Reuters by 0.4% in the second quarter. Avitas Wealth Management LLC now owns 20,811 shares of the business services provider’s stock worth $3,508,000 after acquiring an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 17.31% 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.