Thomson Reuters (NYSE:TRI) Hits New 52-Week High on Better-Than-Expected Earnings

Thomson Reuters Co. (NYSE:TRI) (TSE:TRI)’s share price reached a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $176.95 and last traded at $175.92, with a volume of 60653 shares traded. The stock had previously closed at $169.23.

The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TRI. Wells Fargo & Company started coverage on Thomson Reuters in a report on Tuesday, November 26th. They issued an “equal weight” rating and a $165.00 price objective for the company. CIBC increased their target price on Thomson Reuters from $164.00 to $165.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Royal Bank of Canada increased their target price on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 6th. StockNews.com raised Thomson Reuters from a “sell” rating to a “hold” rating in a research report on Wednesday, January 8th. Finally, Scotiabank raised their price objective on Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $176.10.

Hedge Funds Weigh In On Thomson Reuters

A number of institutional investors and hedge funds have recently modified their holdings of TRI. Decker Retirement Planning Inc. purchased a new position in shares of Thomson Reuters in the 4th quarter worth $26,000. SBI Securities Co. Ltd. purchased a new position in shares of Thomson Reuters in the 4th quarter worth $27,000. Noble Wealth Management PBC purchased a new position in shares of Thomson Reuters in the 4th quarter worth $33,000. Asset Dedication LLC boosted its stake in shares of Thomson Reuters by 125.0% in the 3rd quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock worth $40,000 after buying an additional 130 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Thomson Reuters in the 3rd quarter worth $47,000. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Trading Up 4.5 %

The stock has a market capitalization of $79.59 billion, a PE ratio of 34.81, a P/E/G ratio of 5.31 and a beta of 0.73. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average price of $163.68 and a 200-day moving average price of $165.33.

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.