Thomson Reuters (NYSE:TRI) Upgraded to Outperform at National Bank Financial

Thomson Reuters (NYSE:TRI) (TSE:TRI) was upgraded by equities researchers at National Bank Financial from a “sector perform” rating to an “outperform” rating in a research note issued on Monday, Briefing.com reports.

Several other equities research analysts also recently commented on TRI. Royal Bank of Canada dropped their target price on Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price objective on Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Scotiabank upgraded Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $164.00 to $182.00 in a report on Tuesday, August 27th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $173.45.

Thomson Reuters Stock Performance

Thomson Reuters stock opened at $166.24 on Monday. The stock’s 50-day moving average is $164.81 and its 200-day moving average is $162.73. The company has a market cap of $74.76 billion, a price-to-earnings ratio of 31.66, a price-to-earnings-growth ratio of 5.92 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.88 and a quick ratio of 0.88. Thomson Reuters has a 12 month low of $117.46 and a 12 month high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.75 billion. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $0.84 EPS. Equities analysts anticipate that Thomson Reuters will post 3.72 earnings per share for the current year.

Institutional Trading of Thomson Reuters

A number of hedge funds and other institutional investors have recently modified their holdings of TRI. Norges Bank bought a new stake in shares of Thomson Reuters in the 4th quarter worth $160,372,000. TD Asset Management Inc raised its position in shares of Thomson Reuters by 30.8% during the fourth quarter. TD Asset Management Inc now owns 3,752,472 shares of the business services provider’s stock worth $551,317,000 after purchasing an additional 884,572 shares during the period. FIL Ltd raised its position in shares of Thomson Reuters by 9.8% during the fourth quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock worth $730,195,000 after purchasing an additional 445,444 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Thomson Reuters by 53.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 969,443 shares of the business services provider’s stock valued at $141,752,000 after buying an additional 338,896 shares in the last quarter. Finally, Cibc World Market Inc. grew its holdings in shares of Thomson Reuters by 26.3% during the second quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider’s stock valued at $223,525,000 after buying an additional 276,206 shares in the last quarter. 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.