Thomson Reuters (NYSE:TRI) Rating Lowered to Hold at Zacks Investment Research

Thomson Reuters (NYSE:TRI) (TSE:TRI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Thomson Corporation is a leading provider of value-added information and technology to users in the fields of law, tax, accounting, financial services, higher education, reference information, corporate training and assessment, scientific research and healthcare. “

TRI has been the subject of a number of other reports. ValuEngine raised Thomson Reuters from a “hold” rating to a “buy” rating in a report on Friday, November 1st. National Bank Financial set a $93.00 price target on Thomson Reuters and gave the company a “hold” rating in a report on Saturday, November 2nd. Credit Suisse Group raised Thomson Reuters from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $70.00 to $80.00 in a report on Monday, July 29th. Bank of America boosted their price target on Thomson Reuters from $70.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, BMO Capital Markets reissued a “hold” rating and issued a $95.00 price target on shares of Thomson Reuters in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. Thomson Reuters has an average rating of “Hold” and a consensus target price of $72.87.

NYSE:TRI traded up $0.54 during trading hours on Wednesday, reaching $67.27. The company had a trading volume of 286,020 shares, compared to its average volume of 479,274. Thomson Reuters has a 1-year low of $46.45 and a 1-year high of $71.28. The firm has a market cap of $33.36 billion, a PE ratio of 89.69, a price-to-earnings-growth ratio of 3.03 and a beta of 0.52. The business’s 50 day moving average price is $66.82 and its 200-day moving average price is $66.10. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.46 and a quick ratio of 1.46.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Thursday, October 31st. The business services provider reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.10. Thomson Reuters had a return on equity of 6.39% and a net margin of 62.70%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the company posted $0.11 earnings per share. Thomson Reuters’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, analysts expect that Thomson Reuters will post 1.23 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. CENTRAL TRUST Co raised its stake in shares of Thomson Reuters by 53.1% during the 3rd quarter. CENTRAL TRUST Co now owns 470 shares of the business services provider’s stock worth $31,000 after buying an additional 163 shares during the period. Northwest Investment Counselors LLC acquired a new position in Thomson Reuters in the 3rd quarter valued at $35,000. Advisors Preferred LLC acquired a new position in Thomson Reuters in the 2nd quarter valued at $37,000. Executive Wealth Management LLC acquired a new position in Thomson Reuters in the 3rd quarter valued at $41,000. Finally, Horan Capital Advisors LLC. acquired a new position in Thomson Reuters in the 3rd quarter valued at $42,000. 19.38% of the stock is owned by institutional investors and hedge funds.

Thomson Reuters Company Profile

Thomson Reuters Corporation provides news and information-based tools to professionals worldwide. It operates through five segments: Legal Professionals, Corporates, Tax 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.

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