IMS Capital Management Acquires New Shares in Thomson Reuters Co. $TRI

Key Points

• IMS Capital Management acquired 3,143 shares of Thomson Reuters Co. during the second quarter, valued at approximately $632,000, according to its 13F filing with the SEC.
• Analysts are optimistic about Thomson Reuters, with ratings upgrades from multiple brokerages and a consensus price target of $202.82, reflecting a "Moderate Buy" rating.
• Thomson Reuters reported earnings of $0.87 per share for the latest quarter, exceeding analysts' expectations and marking a 2.6% increase in year-over-year revenue.

IMS Capital Management bought a new position in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,143 shares of the business services provider's stock, valued at approximately $632,000.

Other hedge funds have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. lifted its holdings in shares of Thomson Reuters by 772.2% in the first quarter. Cullen Frost Bankers Inc. now owns 157 shares of the business services provider's stock worth $27,000 after buying an additional 139 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in Thomson Reuters by 41.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 236 shares of the business services provider's stock worth $41,000 after acquiring an additional 69 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in Thomson Reuters by 25.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 411 shares of the business services provider's stock worth $71,000 after acquiring an additional 84 shares during the period. Fifth Third Bancorp lifted its stake in Thomson Reuters by 42.8% in the 1st quarter. Fifth Third Bancorp now owns 484 shares of the business services provider's stock worth $84,000 after purchasing an additional 145 shares in the last quarter. Finally, Whittier Trust Co. boosted its holdings in Thomson Reuters by 1,008.9% in the 1st quarter. Whittier Trust Co. now owns 621 shares of the business services provider's stock valued at $107,000 after purchasing an additional 565 shares during the period. Hedge funds and other institutional investors own 17.31% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on TRI. Scotiabank upgraded Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and increased their price objective for the stock from $188.00 to $200.00 in a research report on Wednesday, August 6th. CIBC upgraded Thomson Reuters from a "neutral" rating to an "outperform" rating in a research note on Tuesday, August 19th. Wells Fargo & Company upgraded Thomson Reuters from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $187.00 to $212.00 in a research report on Tuesday, September 9th. National Bankshares reissued an "outperform" rating on shares of Thomson Reuters in a report on Thursday, July 10th. Finally, Morgan Stanley lowered their target price on shares of Thomson Reuters from $197.00 to $187.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 11th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $202.82.

Thomson Reuters Stock Performance

NYSE:TRI opened at $160.79 on Wednesday. The company has a market capitalization of $72.19 billion, a price-to-earnings ratio of 32.88, a PEG ratio of 5.67 and a beta of 0.74. The business has a 50 day moving average of $182.41 and a 200 day moving average of $184.89. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. Thomson Reuters Co. has a 1-year low of $151.60 and a 1-year high of $218.42.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last issued its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. The business had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.79 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The business's quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the business earned $0.85 earnings per share. On average, sell-side analysts predict that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $0.595 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $2.38 annualized dividend and a yield of 1.5%. Thomson Reuters's payout ratio is currently 65.75%.

About Thomson Reuters

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.

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