Thomson Reuters (NASDAQ:TRI) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Thomson Reuters from “Hold” to “Sell.” Despite the downgrade, MarketBeat’s analyst consensus remained “Moderate Buy,” with an average price target of $128.96.
• Thomson Reuters reported quarterly EPS of $0.81, below analysts’ $0.89 estimate, while revenue of $1.80 billion matched expectations and rose 2.9% year over year.
• The stock was reported down 4.7%; it opened at $112.57 and had a 52-week range of $76.28 to $142.04.

Thomson Reuters (NASDAQ:TRI - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other analysts also recently commented on the stock. Barclays dropped their target price on shares of Thomson Reuters from $140.00 to $130.00 and set an "overweight" rating on the stock in a report on Tuesday, September 8th. Royal Bank Of Canada boosted their target price on shares of Thomson Reuters from $124.00 to $130.00 and gave the stock an "outperform" rating in a report on Wednesday, October 28th. RBC Dominion Securities lifted their price objective on shares of Thomson Reuters from $124.00 to $130.00 and gave the company an "outperform" rating in a research note on Wednesday, October 28th. Jefferies Financial Group started coverage on Thomson Reuters in a research report on Tuesday, October 20th. They issued a "buy" rating and a $130.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price objective on Thomson Reuters from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Wednesday. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $128.96.

Thomson Reuters Trading Down 4.7%

NASDAQ:TRI opened at $112.57 on Friday. The stock's 50 day moving average price is $105.91 and its 200 day moving average price is $97.09. The company has a market capitalization of $48.78 billion, a PE ratio of 31.43, a P/E/G ratio of 2.35 and a beta of 0.69. Thomson Reuters has a 52-week low of $76.28 and a 52-week high of $142.04. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.12.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.89 by ($0.08). Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the business posted $0.85 EPS. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. On average, research analysts anticipate that Thomson Reuters will post 4.33 EPS for the current year.

Hedge Funds Weigh In On Thomson Reuters

A number of institutional investors have recently modified their holdings of TRI. Bank of America Corp DE lifted its position in shares of Thomson Reuters by 48.7% in the first quarter. Bank of America Corp DE now owns 1,627,069 shares of the company's stock worth $146,404,000 after buying an additional 532,803 shares during the last quarter. First Trust Advisors LP boosted its stake in Thomson Reuters by 33.3% in the first quarter. First Trust Advisors LP now owns 1,588,756 shares of the company's stock valued at $142,956,000 after acquiring an additional 397,150 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Thomson Reuters by 65.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,500,365 shares of the company's stock worth $135,297,000 after buying an additional 591,642 shares during the last quarter. TD Waterhouse Canada Inc. increased its position in Thomson Reuters by 13.2% in the third quarter. TD Waterhouse Canada Inc. now owns 1,468,484 shares of the company's stock worth $143,304,000 after buying an additional 171,375 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in Thomson Reuters in the second quarter worth about $107,223,000. Institutional investors and hedge funds own 17.31% of the company's stock.

About Thomson Reuters

Thomson Reuters is a global provider of information, software and services for legal, tax, accounting, compliance, risk and financial professionals. Its products help customers research complex issues, manage workflows and make informed decisions.

Key offerings include Westlaw and Practical Law for legal research and practice management, Checkpoint for tax and accounting research, and ONESOURCE for tax and trade compliance. The company also provides news and information through Reuters, its global news organization.

Thomson Reuters was formed in 2008 through the combination of Thomson Corporation and Reuters Group.

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