Thomson Reuters Corp (TRI) Receives “Hold” Rating from Royal Bank Of Canada

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI)‘s stock had its “hold” rating reissued by equities research analysts at Royal Bank Of Canada in a note issued to investors on Thursday. They presently have a $44.00 target price on the business services provider’s stock. Royal Bank Of Canada’s target price suggests a potential downside of 4.47% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Thomson Reuters Corp from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Deutsche Bank AG upgraded shares of Thomson Reuters Corp from a “hold” rating to a “buy” rating and increased their price objective for the stock from $44.00 to $50.00 in a research note on Monday, June 19th. Zacks Investment Research upgraded shares of Thomson Reuters Corp from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Thursday, April 20th. Morgan Stanley reiterated an “equal weight” rating and issued a $49.00 price objective (up previously from $48.00) on shares of Thomson Reuters Corp in a research note on Tuesday, July 18th. Finally, Canaccord Genuity cut shares of Thomson Reuters Corp from a “buy” rating to a “hold” rating and set a $47.00 price objective on the stock. in a research note on Monday, May 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $48.45.

Thomson Reuters Corp (NYSE:TRI) opened at 46.06 on Thursday. The stock has a market cap of $33.25 billion, a P/E ratio of 10.89 and a beta of 0.75. Thomson Reuters Corp has a 1-year low of $39.23 and a 1-year high of $47.04. The stock has a 50 day moving average of $45.89 and a 200 day moving average of $44.32.

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data on Friday, April 28th. The business services provider reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.10. Thomson Reuters Corp had a net margin of 28.14% and a return on equity of 13.37%. The firm had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the prior year, the business earned $0.48 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. Equities analysts anticipate that Thomson Reuters Corp will post $2.36 EPS for the current fiscal year.

Thomson Reuters Corp announced that its board has initiated a stock buyback program on Wednesday, May 24th that permits the company to repurchase 36,000,000 shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

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A number of large investors have recently added to or reduced their stakes in TRI. Huntington National Bank purchased a new stake in Thomson Reuters Corp during the second quarter valued at about $106,000. Laurel Wealth Advisors Inc. purchased a new stake in Thomson Reuters Corp during the first quarter valued at about $216,000. Hartford Investment Management Co. purchased a new stake in Thomson Reuters Corp during the second quarter valued at about $234,000. Atria Investments LLC purchased a new stake in Thomson Reuters Corp during the second quarter valued at about $252,000. Finally, Private Advisor Group LLC raised its stake in Thomson Reuters Corp by 9.8% in the first quarter. Private Advisor Group LLC now owns 5,490 shares of the business services provider’s stock valued at $236,000 after buying an additional 489 shares in the last quarter. 26.48% of the stock is owned by institutional investors.

Thomson Reuters Corp Company Profile

Thomson Reuters Corporation (Thomson Reuters) is a provider of news and information for professional markets. The Company is organized in three business units: Financial & Risk, Legal, and Tax & Accounting. The Financial & Risk segment is a provider of critical news, information and analytics, enabling transactions and connecting communities of trading, investment, financial and corporate professionals.