Thomson Reuters (NYSE:TRI) Sets New 1-Year High - Here's What Happened

Thomson Reuters Co. (NYSE:TRI - Get Free Report) TSE: TRI shares hit a new 52-week high on Tuesday . The stock traded as high as $180.91 and last traded at $180.53, with a volume of 757655 shares changing hands. The stock had previously closed at $176.36.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Thomson Reuters from $175.00 to $177.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. CIBC raised their price target on shares of Thomson Reuters from $165.00 to $174.00 in a report on Friday, February 7th. Scotiabank boosted their price objective on shares of Thomson Reuters from $187.00 to $188.00 and gave the company a "sector outperform" rating in a report on Friday, February 7th. StockNews.com upgraded shares of Thomson Reuters from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Canaccord Genuity Group raised their price target on Thomson Reuters from $164.00 to $175.00 and gave the stock a "hold" rating in a research note on Friday, February 7th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $177.80.

Thomson Reuters Price Performance

The company has a market cap of $81.90 billion, a P/E ratio of 37.21, a PEG ratio of 5.67 and a beta of 0.70. The firm's 50-day moving average is $173.62 and its two-hundred day moving average is $168.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last announced its earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. Analysts anticipate that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 20th were issued a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a yield of 1.31%. The ex-dividend date was Thursday, February 20th. This is a positive change from Thomson Reuters's previous quarterly dividend of $0.54. Thomson Reuters's dividend payout ratio is presently 48.67%.

Institutional Investors Weigh In On Thomson Reuters

Several hedge funds and other institutional investors have recently made changes to their positions in TRI. Mackenzie Financial Corp boosted its stake in shares of Thomson Reuters by 139.5% during the fourth quarter. Mackenzie Financial Corp now owns 8,544,503 shares of the business services provider's stock valued at $1,370,564,000 after purchasing an additional 4,977,006 shares during the period. Norges Bank purchased a new stake in Thomson Reuters in the 4th quarter valued at about $148,221,000. Geode Capital Management LLC grew its stake in Thomson Reuters by 74.3% in the 4th quarter. Geode Capital Management LLC now owns 1,315,080 shares of the business services provider's stock worth $214,236,000 after acquiring an additional 560,450 shares in the last quarter. TD Asset Management Inc. increased its position in shares of Thomson Reuters by 12.2% during the fourth quarter. TD Asset Management Inc. now owns 4,764,429 shares of the business services provider's stock worth $764,654,000 after acquiring an additional 516,605 shares during the period. Finally, CIBC Asset Management Inc lifted its position in shares of Thomson Reuters by 52.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider's stock worth $185,011,000 after purchasing an additional 395,481 shares during the period. 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.