Thomson Reuters (NASDAQ:TRI) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• Thomson Reuters shares saw unusually high trading volume, with about 4.87 million shares traded—111% above the prior session—while the stock rose 2.4% to roughly $101.31.
• The company beat quarterly expectations, reporting $0.99 in adjusted EPS versus $0.96 expected and $1.93 billion in revenue versus $1.89 billion forecast; revenue increased 9.5% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $142.83, while Thomson Reuters announced a quarterly dividend of $0.655 per share, representing a 2.6% annualized yield.

Shares of Thomson Reuters Corp (NASDAQ:TRI - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 4,874,060 shares were traded during mid-day trading, an increase of 111% from the previous session's volume of 2,307,919 shares.The stock last traded at $101.3120 and had previously closed at $99.06.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TRI. Scotia cut their target price on Thomson Reuters from $138.00 to $135.00 and set a "sector outperform" rating on the stock in a research report on Thursday, August 6th. Wells Fargo & Company set a $85.00 price target on Thomson Reuters and gave the stock an "equal weight" rating in a research report on Tuesday, June 30th. Bank of America lowered their price target on Thomson Reuters from $115.00 to $98.00 and set a "neutral" rating for the company in a research report on Tuesday, May 19th. UBS Group set a $185.74 price objective on shares of Thomson Reuters and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Finally, Barclays reiterated an "overweight" rating and set a $130.00 price objective (down from $170.00) on shares of Thomson Reuters in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $142.83.

Thomson Reuters Trading Up 2.4%

The stock has a market capitalization of $44.19 billion, a P/E ratio of 27.01, a PEG ratio of 1.52 and a beta of 0.75. The stock's fifty day moving average price is $91.26 and its 200 day moving average price is $92.27. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.51 and a quick ratio of 0.51.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.03. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The firm's revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the business posted $0.87 EPS. Research analysts forecast that Thomson Reuters Corp will post 4.45 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.655 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.6%. Thomson Reuters's dividend payout ratio (DPR) is 69.68%.

Institutional Trading of Thomson Reuters

Large investors have recently modified their holdings of the company. Empowered Funds LLC purchased a new position in Thomson Reuters during the 4th quarter worth $30,000. Timmons Wealth Management LLC purchased a new stake in shares of Thomson Reuters in the 4th quarter worth $42,000. Montag A & Associates Inc. purchased a new stake in shares of Thomson Reuters in the 4th quarter worth $43,000. Western Wealth Management LLC bought a new position in shares of Thomson Reuters during the 1st quarter worth $48,000. Finally, J.Safra Asset Management Corp bought a new position in shares of Thomson Reuters during the 4th quarter worth $56,000. Hedge funds and other institutional investors own 17.31% of the company's stock.

Thomson Reuters Company Profile

Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies real‐time journalism to media organizations worldwide.

Formed in 2008 through the merger of Canada's Thomson Corporation (founded in 1934) and the UK's Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source