Thomson Reuters (NYSE:TRI) Reaches New 12-Month High on Analyst Upgrade

Thomson Reuters Co. (NYSE:TRI - Get Free Report) TSE: TRI's share price hit a new 52-week high during mid-day trading on Tuesday after TD Securities raised their price target on the stock from $177.00 to $182.00. TD Securities currently has a sector perform rating on the stock. Thomson Reuters traded as high as $184.54 and last traded at $184.16, with a volume of 244314 shares changing hands. The stock had previously closed at $182.41.

Several other brokerages also recently commented on TRI. CIBC upped their price objective on shares of Thomson Reuters from $165.00 to $174.00 in a research note on Friday, February 7th. The Goldman Sachs Group upped their price target on Thomson Reuters from $168.00 to $188.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. StockNews.com upgraded Thomson Reuters from a "sell" rating to a "hold" rating in a report on Saturday, April 19th. Scotiabank lifted their price target on shares of Thomson Reuters from $187.00 to $188.00 and gave the company a "sector outperform" rating in a report on Friday, February 7th. Finally, Wells Fargo & Company upped their price objective on shares of Thomson Reuters from $165.00 to $177.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. Eleven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $178.18.

Hedge Funds Weigh In On Thomson Reuters

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. World Investment Advisors LLC purchased a new position in Thomson Reuters in the 3rd quarter worth about $6,649,000. JCIC Asset Management Inc. boosted its holdings in Thomson Reuters by 1.5% in the fourth quarter. JCIC Asset Management Inc. now owns 26,360 shares of the business services provider's stock worth $4,230,000 after purchasing an additional 395 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Thomson Reuters by 23.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 5,966 shares of the business services provider's stock worth $958,000 after purchasing an additional 1,145 shares during the period. Park Avenue Securities LLC raised its stake in Thomson Reuters by 26.0% during the 4th quarter. Park Avenue Securities LLC now owns 2,546 shares of the business services provider's stock valued at $409,000 after buying an additional 526 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. boosted its stake in shares of Thomson Reuters by 0.8% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 205,336 shares of the business services provider's stock worth $32,974,000 after buying an additional 1,601 shares during the last quarter. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Stock Down 0.9 %

The company has a market cap of $82.93 billion, a P/E ratio of 37.62, a price-to-earnings-growth ratio of 5.67 and a beta of 0.75. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average of $174.98 and a 200 day moving average of $169.10.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last released its quarterly earnings results on Thursday, May 1st. The business services provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.05 by $0.07. The firm had revenue of $1.90 billion during 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%. The business's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.11 EPS. On average, research analysts anticipate that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Thursday, February 20th were given a dividend of $0.595 per share. This is an increase from Thomson Reuters's previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.29%. Thomson Reuters's payout ratio is presently 49.69%.

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.