Palo Capital Inc. increased its position in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 3.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,121 shares of the business services provider’s stock after buying an additional 500 shares during the period. Palo Capital Inc.’s holdings in Thomson Reuters Corp were worth $746,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in TRI. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Thomson Reuters Corp by 9.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,776 shares of the business services provider’s stock worth $165,000 after buying an additional 337 shares in the last quarter. Laurel Wealth Advisors Inc. bought a new stake in Thomson Reuters Corp during the first quarter valued at approximately $216,000. Atria Investments LLC bought a new stake in Thomson Reuters Corp during the second quarter valued at approximately $252,000. Private Advisor Group LLC raised its stake in Thomson Reuters Corp by 9.8% in the first quarter. Private Advisor Group LLC now owns 5,490 shares of the business services provider’s stock valued at $236,000 after buying an additional 489 shares during the period. Finally, DORCHESTER WEALTH MANAGEMENT Co raised its stake in Thomson Reuters Corp by 6.6% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 5,528 shares of the business services provider’s stock valued at $239,000 after buying an additional 343 shares during the period. Institutional investors and hedge funds own 26.50% of the company’s stock.
Shares of Thomson Reuters Corp (NYSE TRI) opened at 45.99 on Tuesday. The firm has a 50-day moving average price of $44.60 and a 200-day moving average price of $44.09. The stock has a market cap of $33.20 billion, a price-to-earnings ratio of 10.87 and a beta of 0.75. Thomson Reuters Corp has a 52 week low of $39.23 and a 52 week high of $47.04.
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Friday, April 28th. The business services provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.10. Thomson Reuters Corp had a net margin of 28.14% and a return on equity of 13.37%. The company had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the previous year, the company earned $0.48 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities analysts anticipate that Thomson Reuters Corp will post $2.37 earnings per share for the current year.
Thomson Reuters Corp declared that its board has authorized a share repurchase plan on Wednesday, May 24th that permits the company to repurchase 36,000,000 shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
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Several equities research analysts have recently commented on the company. BidaskClub upgraded Thomson Reuters Corp from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Zacks Investment Research lowered Thomson Reuters Corp from a “hold” rating to a “sell” rating in a research note on Thursday, April 13th. Deutsche Bank AG upgraded Thomson Reuters Corp from a “hold” rating to a “buy” rating and upped their price objective for the stock from $44.00 to $50.00 in a research note on Monday, June 19th. National Bank Financial upgraded Thomson Reuters Corp from a “sector perform market weight” rating to an “outperform market weight” rating in a research note on Monday, April 17th. Finally, Macquarie upgraded Thomson Reuters Corp from a “neutral” rating to an “outperform” rating in a research note on Thursday, June 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $48.00.
About Thomson Reuters Corp
Thomson Reuters Corporation (Thomson Reuters) is a provider of news and information for professional markets. The Company is organized in three business units: Financial & Risk, Legal, and Tax & Accounting. The Financial & Risk segment is a provider of critical news, information and analytics, enabling transactions and connecting communities of trading, investment, financial and corporate professionals.
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