Thomson Reuters (NYSE:TRI) Sets New 12-Month High on Strong Earnings

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) shares hit a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $176.95 and last traded at $175.92, with a volume of 60653 shares changing hands. The stock had previously closed at $169.23.

The business services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TRI. Scotiabank upped their price objective on Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. CIBC lifted their price objective on Thomson Reuters from $164.00 to $165.00 and gave the company a “neutral” rating in a report on Friday, January 3rd. Wells Fargo & Company started coverage on shares of Thomson Reuters in a research report on Tuesday, November 26th. They set an “equal weight” rating and a $165.00 target price for the company. Royal Bank of Canada upped their price objective on shares of Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded shares of Thomson Reuters from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Thomson Reuters presently has an average rating of “Hold” and an average target price of $176.10.

Institutional Investors Weigh In On Thomson Reuters

Institutional investors have recently modified their holdings of the business. Marshall Wace LLP bought a new position in Thomson Reuters in the second quarter valued at approximately $303,000. AQR Capital Management LLC bought a new position in shares of Thomson Reuters in the 2nd quarter worth $236,000. Sanctuary Advisors LLC acquired a new stake in shares of Thomson Reuters during the second quarter worth $713,000. SG Americas Securities LLC increased its holdings in Thomson Reuters by 59.6% in the third quarter. SG Americas Securities LLC now owns 2,095 shares of the business services provider’s stock valued at $357,000 after purchasing an additional 782 shares during the last quarter. Finally, Clean Yield Group acquired a new position in Thomson Reuters in the third quarter valued at about $42,000. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Stock Performance

The stock has a market cap of $79.67 billion, a P/E ratio of 34.80, a PEG ratio of 5.31 and a beta of 0.73. The stock has a fifty day simple moving average of $163.68 and a 200-day simple moving average of $165.33. 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 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.