Thomson Reuters Corp (NASDAQ:TRI) Stock Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts rate Thomson Reuters a “Moderate Buy”: Ten analysts recommend buying the stock, six rate it a hold, and one gives it a strong-buy rating. The average 12-month price target is $131.57.
• Thomson Reuters beat quarterly expectations, reporting $0.99 EPS versus the $0.96 consensus and $1.93 billion in revenue, up 9.5% year over year. The company also pays a quarterly dividend of $0.655, equivalent to a 2.5% annual yield.
• TRI shares opened at $104.25, with a market capitalization of approximately $45.17 billion. Institutional investors own 17.31% of the stock, with several major funds establishing new positions during the second quarter.

Shares of Thomson Reuters Corp (NASDAQ:TRI - Get Free Report) have received a consensus rating of "Moderate Buy" from the seventeen analysts that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $131.57.

TRI has been the subject of several research analyst reports. Weiss Ratings raised Thomson Reuters from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, August 24th. Royal Bank Of Canada upped their target price on Thomson Reuters from $121.00 to $124.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Scotiabank restated a "sector outperform" rating and issued a $135.00 price target on shares of Thomson Reuters in a research report on Thursday, August 6th. TD Securities restated a "buy" rating on shares of Thomson Reuters in a research report on Thursday, August 6th. Finally, Scotia cut their price target on Thomson Reuters from $138.00 to $135.00 and set a "sector outperform" rating for the company in a research note on Thursday, August 6th.

Thomson Reuters Stock Up 1.0%

TRI stock opened at $104.25 on Tuesday. The company has a market cap of $45.17 billion, a P/E ratio of 27.75, a P/E/G ratio of 1.98 and a beta of 0.75. Thomson Reuters has a 52 week low of $76.28 and a 52 week high of $164.30. The company's 50-day moving average price is $101.79 and its 200 day moving average price is $93.41. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.12.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.03. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The company had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same period last year, the company posted $0.87 earnings per share. The firm's quarterly revenue was up 9.5% compared to the same quarter last year. On average, research analysts expect that Thomson Reuters will post 4.48 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were paid a $0.6550 dividend. This represents a $2.62 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, August 19th. Thomson Reuters's dividend payout ratio is presently 69.68%.

Hedge Funds Weigh In On Thomson Reuters

Several hedge funds have recently added to or reduced their stakes in TRI. Canada Pension Plan Investment Board acquired a new position in Thomson Reuters in the 2nd quarter valued at about $107,223,000. Bank of America Corp DE purchased a new position in Thomson Reuters in the 2nd quarter valued at about $104,104,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Thomson Reuters during the 2nd quarter worth about $102,215,000. Cibc World Market Inc. acquired a new stake in shares of Thomson Reuters during the 2nd quarter worth about $100,711,000. Finally, BlackRock Inc. acquired a new stake in shares of Thomson Reuters during the 2nd quarter worth about $91,548,000. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

About Thomson Reuters

Thomson Reuters Corporation is a global content and technology company that provides trusted information, software, and services to professionals and organizations. Its offerings are designed to support legal, tax, accounting, corporate, government, and media customers with research, workflow management, compliance, and decision-making.

The company serves legal professionals through products such as Westlaw, Practical Law, and CoCounsel, its generative artificial intelligence legal assistant.

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