Thomson Reuters (NYSE:TRI) Trading Down 3.2%

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI)’s share price dropped 3.2% during mid-day trading on Tuesday . The stock traded as low as $167.24 and last traded at $167.40. Approximately 229,221 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 372,433 shares. The stock had previously closed at $172.92.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada dropped their target price on Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Scotiabank upgraded shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $164.00 to $182.00 in a research report on Tuesday, August 27th. JPMorgan Chase & Co. boosted their price target on shares of Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Thomson Reuters has an average rating of “Hold” and an average target price of $173.45.

Thomson Reuters Trading Down 2.8 %

The company has a debt-to-equity ratio of 0.16, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $75.54 billion, a price-to-earnings ratio of 31.88, a price-to-earnings-growth ratio of 6.19 and a beta of 0.73. The business has a fifty day moving average price of $165.24 and a 200 day moving average price of $163.33.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the business posted $0.84 EPS. On average, equities analysts expect that Thomson Reuters Co. will post 3.72 EPS for the current fiscal year.

Thomson Reuters Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were issued a $0.146 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.58 annualized dividend and a yield of 0.35%. Thomson Reuters’s dividend payout ratio (DPR) is 41.14%.

Institutional Trading of Thomson Reuters

Several institutional investors have recently modified their holdings of the company. Blair William & Co. IL lifted its position in 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 worth $385,000 after purchasing an additional 66 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Thomson Reuters by 1.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,990 shares of the business services provider’s stock worth $622,000 after acquiring an additional 70 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position 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 valued at $1,252,000 after acquiring an additional 74 shares in the last quarter. Sivia Capital Partners LLC increased its stake in Thomson Reuters by 4.8% in the second quarter. Sivia Capital Partners LLC now owns 1,646 shares of the business services provider’s stock valued at $277,000 after acquiring an additional 75 shares during the period. Finally, Avitas Wealth Management LLC raised its position in 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 purchasing an additional 79 shares in the last quarter. Institutional investors and hedge funds 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.