Has Canaccord Lost Faith in Thomson Reuters (TRI) After Recent Downgrade

Thomson Reuters Corporation (NYSE:TRI) Logo

Investors sentiment decreased to 0.7 in Q2 2018. Its down 0.06, from 0.76 in 2018Q1. It worsened, as 33 investors sold Thomson Reuters Corporation shares while 87 reduced holdings. 23 funds opened positions while 61 raised stakes. 157.20 million shares or 8.08% less from 171.02 million shares in 2018Q1 were reported.

Sei, a Pennsylvania-based fund reported 1,721 shares. Quantbot Techs L P accumulated 3,979 shares or 0.01% of the stock. Ruffer Ltd Liability Partnership owns 13,596 shares or 0.02% of their US portfolio. Bridgewater Assocs L P holds 106,401 shares. Mondrian Inv Ltd invested in 0% or 392 shares. Csat Advisory Limited Partnership owns 46,018 shares. D E Shaw And Company has invested 0.03% in Thomson Reuters Corporation (NYSE:TRI). 91,725 are owned by Troy Asset Mgmt Limited. Alliancebernstein L P owns 131,580 shares for 0% of their portfolio. Delta Asset Mngmt Limited Liability Corp Tn reported 84 shares. Archford Strategies Ltd Liability Corporation reported 531 shares. Palo Inc reported 18,078 shares or 0.27% of all its holdings. Wellington Shields Capital Mgmt Limited Liability holds 0.04% or 5,500 shares. Shell Asset Mngmt owns 124,891 shares. Toronto Dominion Bankshares reported 0.15% in Thomson Reuters Corporation (NYSE:TRI).

Thomson Reuters (TRI) Receives a Downgrade

Shares of Thomson Reuters (TRI) were cut to a “Hold” rating by research analysts at Canaccord. They now have a target of $52.0 on TRI. The past rating by Canaccord was a “Buy” and will no longer be valid.

The stock decreased 0.02% or $0.01 during the last trading session, reaching $50.99. About 1.80M shares traded. Thomson Reuters Corporation (TRI) has declined 1.29% since December 7, 2017 and is downtrending. It has underperformed by 16.91% the S&P500.

Analysts await Thomson Reuters Corporation (NYSE:TRI) to report earnings on February, 14. They expect $0.06 earnings per share, down 90.91 % or $0.60 from last year’s $0.66 per share. TRI’s profit will be $30.39 million for 212.46 P/E if the $0.06 EPS becomes a reality. After $0.12 actual earnings per share reported by Thomson Reuters Corporation for the previous quarter, Wall Street now forecasts -50.00 % negative EPS growth.

Thomson Reuters Corporation provides news and information for professional markets worldwide. The company has market cap of $25.83 billion. It operates through three divisions: Financial & Risk, Legal, and Tax & Accounting. It has a 29.24 P/E ratio. The firm sells electronic content and services to professionals primarily on a subscription basis.

More notable recent Thomson Reuters Corporation (NYSE:TRI) news were published by: Bizjournals.com which released: “Thomson Reuters’ DFW operations to lead company in acquisition – Dallas Business Journal” on November 19, 2018, also Bizjournals.com with their article: “Thomson Reuters announces 3,200 job cuts; impact on largest U.S. office undisclosed – Minneapolis / St. Paul Business Journal” published on December 04, 2018, Seekingalpha.com published: “Tri-Continental declares $0.2515 dividend – Seeking Alpha” on November 23, 2018. More interesting news about Thomson Reuters Corporation (NYSE:TRI) were released by: Seekingalpha.com and their article: “Thomson Reuters holders approve $2.5B return of capital plan – Seeking Alpha” published on November 19, 2018 as well as Seekingalpha.com‘s news article titled: “Thomson Reuters: In-Depth Financial Analysis Of The Blackstone Deal – Seeking Alpha” with publication date: September 16, 2018.

Thomson Reuters Corporation (NYSE:TRI) Ratings Chart

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