Thomson Reuters (TRI)

• Market cap: $73B
• 1 day: -0.36%
• 5 days: -3.58%
• 1 month: 0.91%
• 3 months: -4.28%
• 6 months: -2.82%
• Year to date: 12.60%
• 1 year: 14.86%
• 5 years: 117.31%
• 10 years: 251.23%

About: Thomson Reuters is the result of the $17.6 billion megamerger of Canada's Thomson and the United Kingdom's Reuters Group in 2008. In 2021, Thomson Reuters completed the sale of Refinitiv to LSE Group. Thomson Reuters' three largest segments are its legal professionals, Tax and accounting, and corporates segments. Legal professionals is about 42% of the firm's revenue and 47% of the firm's adjusted EBITDA. Tax and accounting makes up about 20%-25% of the firm's revenue and EBITDA. Corporates, which consists of legal professionals and tax and accounting products sold to corporations, also makes up about 20%-25% of the firm's revenue and EBITDA. Thomson Reuters' smaller segments include its Reuters news business and global print business.

Employees: 25,600

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

227% more call options, than puts

Call options by funds: $51.5M | Put options by funds: $15.8M

0.56% less ownership

Funds ownership: 19.36% [Q2] → 18.8% (-0.56%) [Q3]

2% less capital invested

Capital invested by funds: $14.7B [Q2] → $14.4B (-$325M) [Q3]

3% less funds holding

Funds holding: 488 [Q2] → 472 (-16) [Q3]

15% less repeat investments, than reductions

Existing positions increased: 155 | Existing positions reduced: 182

22% less funds holding in top 10

Funds holding in top 10: 9 [Q2] → 7 (-2) [Q3]

26% less first-time investments, than exits

New positions opened: 46 | Existing positions closed: 62

Research analyst outlook

3 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $165 2% upside
• Avg. target: $175 8% upside
• High target: $187 15% upside

3 analyst ratings

• positive: 1 33%
• neutral: 2 67%
• negative: 0 0%

Wells Fargo	2% upside $165	Equal-Weight Initiated	26 Nov 2024
Scotiabank Maher Yaghi 62% 1-year accuracy 8 / 13 met price target	15% upside $187	Sector Outperform Maintained	6 Nov 2024
RBC Capital Drew McReynolds 0 / 0 met price target	7% upside $173	Sector Perform Maintained	6 Nov 2024