Piper Jaffray Companies Reaffirms “Hold” Rating for Thomson Reuters (TRI)

Thomson Reuters (NYSE:TRI) (TSE:TRI)‘s stock had its “hold” rating reaffirmed by investment analysts at Piper Jaffray Companies in a research report issued to clients and investors on Wednesday. Piper Jaffray Companies also issued estimates for Thomson Reuters’ Q4 2018 earnings at $0.03 EPS, FY2018 earnings at $0.61 EPS, Q1 2019 earnings at $0.34 EPS, Q2 2019 earnings at $0.25 EPS, Q3 2019 earnings at $0.27 EPS, Q4 2019 earnings at $0.37 EPS, FY2019 earnings at $1.22 EPS and FY2020 earnings at $1.94 EPS.

A number of other brokerages have also weighed in on TRI. TD Securities restated a “buy” rating and set a $69.00 price target on shares of Thomson Reuters in a research note on Wednesday. Zacks Investment Research upgraded Thomson Reuters from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Wednesday, October 17th. ValuEngine upgraded Thomson Reuters from a “hold” rating to a “buy” rating in a research note on Wednesday, September 12th. Morgan Stanley upgraded Thomson Reuters from an “equal weight” rating to an “overweight” rating and set a $52.00 target price on the stock in a research report on Thursday, September 13th. Finally, Royal Bank of Canada upped their target price on Thomson Reuters from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Wednesday, August 29th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Thomson Reuters presently has an average rating of “Buy” and a consensus target price of $50.00.

Shares of TRI stock opened at $48.15 on Wednesday. Thomson Reuters has a fifty-two week low of $36.52 and a fifty-two week high of $48.14. The stock has a market cap of $27.06 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 10.71 and a beta of 0.52. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.31 and a current ratio of 2.31.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.07. Thomson Reuters had a return on equity of 6.04% and a net margin of 16.21%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. Sell-side analysts predict that Thomson Reuters will post 0.63 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of TRI. Wetherby Asset Management Inc. lifted its holdings in Thomson Reuters by 20.7% in the third quarter. Wetherby Asset Management Inc. now owns 6,304 shares of the business services provider’s stock valued at $288,000 after acquiring an additional 1,081 shares during the period. Palo Capital Inc. lifted its holdings in Thomson Reuters by 6.7% in the third quarter. Palo Capital Inc. now owns 19,281 shares of the business services provider’s stock valued at $881,000 after acquiring an additional 1,203 shares during the period. Janus Henderson Group PLC lifted its holdings in Thomson Reuters by 1.7% in the second quarter. Janus Henderson Group PLC now owns 76,281 shares of the business services provider’s stock valued at $3,083,000 after acquiring an additional 1,304 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Thomson Reuters by 40.4% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,338 shares of the business services provider’s stock valued at $206,000 after acquiring an additional 1,537 shares during the period. Finally, LPL Financial LLC lifted its holdings in Thomson Reuters by 32.0% in the first quarter. LPL Financial LLC now owns 9,896 shares of the business services provider’s stock valued at $382,000 after acquiring an additional 2,400 shares during the period. Hedge funds and other institutional investors own 28.18% of the company’s stock.

About Thomson Reuters

Thomson Reuters Corporation provides news and information for professional markets worldwide. The company operates through three segments: Financial & Risk, Legal, and Tax & Accounting. It sells electronic content and services to professionals primarily on a subscription basis. The Financial & Risk segment offers critical news, information, and analytics enabling transactions and connecting communities of trading, investment, financial, and corporate professionals.

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