Zurcher Kantonalbank Zurich Cantonalbank Cuts Stock Position in Thomson Reuters Co. (NYSE:TRI)

Key Points

• Zurcher Kantonalbank reduced its holdings in Thomson Reuters by 14.7%, owning 74,904 shares, which are valued at approximately $12.9 million.
• Thomson Reuters reported quarterly earnings of $1.12 per share, exceeding analyst expectations, with a revenue of $1.90 billion, slightly below the consensus estimate of $1.94 billion.
• Wall Street analysts have generally rated Thomson Reuters with a "Hold," with target prices ranging from $178 to $215, indicating a mixed outlook on its stock performance.

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 14.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,904 shares of the business services provider's stock after selling 12,864 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Thomson Reuters were worth $12,924,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cullen Frost Bankers Inc. increased its stake in shares of Thomson Reuters by 772.2% in the 1st quarter. Cullen Frost Bankers Inc. now owns 157 shares of the business services provider's stock valued at $27,000 after purchasing an additional 139 shares in the last quarter. Investment Management Corp VA ADV purchased a new position in shares of Thomson Reuters in the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. lifted its stake in Thomson Reuters by 41.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 236 shares of the business services provider's stock worth $41,000 after purchasing an additional 69 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Thomson Reuters by 25.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 411 shares of the business services provider's stock worth $71,000 after purchasing an additional 84 shares in the last quarter. Finally, 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. Institutional investors own 17.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TRI shares. Wall Street Zen cut Thomson Reuters from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Wells Fargo & Company raised their price objective on shares of Thomson Reuters from $187.00 to $213.00 and gave the company an "equal weight" rating in a report on Monday, June 16th. Royal Bank Of Canada lifted their target price on Thomson Reuters from $185.00 to $215.00 and gave the stock a "sector perform" rating in a research report on Monday. Scotiabank reiterated a "sector perform" rating and set a $188.00 price target on shares of Thomson Reuters in a research note on Friday, May 2nd. Finally, TD Securities reaffirmed a "hold" rating on shares of Thomson Reuters in a report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Thomson Reuters currently has an average rating of "Hold" and a consensus price target of $193.00.

Thomson Reuters Price Performance

TRI stock traded down $0.43 on Wednesday, reaching $199.77. The company had a trading volume of 946,501 shares, compared to its average volume of 818,109. Thomson Reuters Co. has a 1 year low of $150.01 and a 1 year high of $218.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. The company's fifty day moving average is $199.10 and its 200 day moving average is $183.17. The company has a market cap of $90.01 billion, a P/E ratio of 40.85, a PEG ratio of 5.67 and a beta of 0.76.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last announced its earnings results on Thursday, May 1st. The business services provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.07. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. Thomson Reuters's revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business earned $1.11 earnings per share. On average, research analysts forecast that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters 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.