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

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

A number of other equities analysts also recently issued reports on TRI. Scotiabank lifted their price objective on shares of Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price target on Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. National Bank Financial raised Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. StockNews.com downgraded shares of Thomson Reuters from a “hold” rating to a “sell” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada raised their price target on shares of Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $175.20.

Thomson Reuters Price Performance

Thomson Reuters stock opened at $162.75 on Tuesday. Thomson Reuters has a 52-week low of $138.80 and a 52-week high of $176.03. The company has a market cap of $73.22 billion, a price-to-earnings ratio of 32.04, a PEG ratio of 5.47 and a beta of 0.73. The firm’s fifty day moving average is $166.55 and its 200 day moving average is $167.04. The company has a quick ratio of 0.94, a current 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates 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. Sell-side analysts forecast that Thomson Reuters will post 3.69 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.16 dividend on an annualized basis and a yield of 1.33%. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.15. Thomson Reuters’s dividend payout ratio is currently 42.52%.

Institutional Trading of Thomson Reuters

A number of institutional investors have recently made changes to their positions in TRI. National Bank of Canada FI boosted its stake in Thomson Reuters by 115.7% during the third quarter. National Bank of Canada FI now owns 963,315 shares of the business services provider’s stock worth $164,292,000 after buying an additional 516,715 shares during the last quarter. Cibc World Market Inc. boosted its position in shares of Thomson Reuters by 26.3% during the 2nd quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider’s stock valued at $223,525,000 after acquiring an additional 276,206 shares during the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of Thomson Reuters in the second quarter valued at about $45,514,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Thomson Reuters by 11.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider’s stock worth $439,665,000 after purchasing an additional 255,387 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in Thomson Reuters by 87.1% during the second quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider’s stock worth $85,136,000 after purchasing an additional 235,145 shares during the period. 17.31% of the stock is owned by institutional investors and hedge funds.

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.