Thomson Reuters (NYSE:TRI) Sets New 52-Week High - Here's Why

Thomson Reuters Co. (NYSE:TRI - Get Free Report) TSE: TRI's stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $199.11 and last traded at $196.29, with a volume of 217338 shares. The stock had previously closed at $198.65.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TRI shares. TD Securities lifted their price objective on Thomson Reuters from $177.00 to $182.00 and gave the company a "sector perform" rating in a report on Tuesday, April 29th. Royal Bank of Canada raised their target price on Thomson Reuters from $182.00 to $185.00 and gave the stock a "sector perform" rating in a research report on Friday, May 2nd. Bank of America assumed coverage on Thomson Reuters in a research report on Thursday, April 10th. They issued a "neutral" rating and a $180.00 price target on the stock. Barclays increased their price objective on Thomson Reuters from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group boosted their target price on shares of Thomson Reuters from $168.00 to $188.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $183.70.

Thomson Reuters Stock Down 0.2%

The firm's 50-day simple moving average is $183.95 and its two-hundred day simple moving average is $173.39. The stock has a market cap of $87.84 billion, a price-to-earnings ratio of 39.88, a PEG ratio of 5.67 and a beta of 0.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last announced its quarterly earnings data on Thursday, May 1st. The business services provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.07. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. The firm had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the previous year, the business posted $1.11 EPS. The company's quarterly revenue was up .8% compared to the same quarter last year. On average, sell-side analysts expect that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Thursday, May 15th. Thomson Reuters's dividend payout ratio (DPR) is currently 49.69%.

Institutional Investors Weigh In On Thomson Reuters

A number of hedge funds have recently modified their holdings of TRI. Mackenzie Financial Corp grew its stake in Thomson Reuters by 139.5% in the fourth quarter. Mackenzie Financial Corp now owns 8,544,503 shares of the business services provider's stock valued at $1,370,564,000 after purchasing an additional 4,977,006 shares in the last quarter. Norges Bank bought a new stake in Thomson Reuters in the 4th quarter valued at about $148,221,000. TD Asset Management Inc increased its stake in Thomson Reuters by 15.7% during the 1st quarter. TD Asset Management Inc now owns 5,514,492 shares of the business services provider's stock worth $951,477,000 after acquiring an additional 750,063 shares during the period. Millennium Management LLC increased its holdings in Thomson Reuters by 365.6% in the 1st quarter. Millennium Management LLC now owns 894,074 shares of the business services provider's stock valued at $154,475,000 after buying an additional 702,036 shares during the period. Finally, Geode Capital Management LLC raised its position in Thomson Reuters by 74.3% during the fourth quarter. Geode Capital Management LLC now owns 1,315,080 shares of the business services provider's stock valued at $214,236,000 after purchasing an additional 560,450 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company's stock.

Thomson Reuters Company 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.