Thomson Reuters (NYSE:TRI) Sets New 12-Month High – Here’s Why

Shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) hit a new 52-week high on Wednesday . The stock traded as high as $179.45 and last traded at $178.63, with a volume of 452328 shares traded. The stock had previously closed at $178.93.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. CIBC upped their price objective on shares of Thomson Reuters from $165.00 to $174.00 in a report on Friday, February 7th. Canaccord Genuity Group lifted their price objective on Thomson Reuters from $164.00 to $175.00 and gave the company a “hold” rating in a research note on Friday, February 7th. Scotiabank increased their target price on Thomson Reuters from $187.00 to $188.00 and gave the stock a “sector outperform” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. lifted their target price on Thomson Reuters from $175.00 to $177.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, Royal Bank of Canada increased their price target on shares of Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 6th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $182.09.

Thomson Reuters Trading Up 1.7 %

The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.16. The stock has a market cap of $80.52 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 5.59 and a beta of 0.73. The company’s fifty day moving average is $164.97 and its two-hundred day moving average is $165.81.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Thursday, February 6th. The business services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.78%. On average, research analysts predict that Thomson Reuters Co. will post 3.96 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Thursday, February 20th will be issued a $0.595 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.33%. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.54. Thomson Reuters’s dividend payout ratio is presently 44.17%.

Institutional Investors Weigh In On Thomson Reuters

Institutional investors have recently added to or reduced their stakes in the business. Decker Retirement Planning Inc. acquired a new stake in Thomson Reuters during the fourth quarter worth approximately $26,000. Curio Wealth LLC purchased a new position in shares of Thomson Reuters in the 4th quarter valued at $26,000. SBI Securities Co. Ltd. acquired a new stake in Thomson Reuters during the 4th quarter worth $27,000. Noble Wealth Management PBC purchased a new stake in Thomson Reuters in the fourth quarter valued at $33,000. Finally, Asset Dedication LLC lifted its position in Thomson Reuters by 125.0% in the third quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 130 shares during the last quarter. Hedge funds and other institutional investors 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.