Some Traders Are Very Bullish on Thomson Reuters Corporation (TRI) After Forming Double Top Chart Pattern

December 7, 2017 - By reb123z

Investors sentiment decreased to 0.67 in Q2 2017. Its down 0.42, from 1.09 in 2017Q1. It is negative, as 44 investors sold Thomson Reuters Corporation shares while 116 reduced holdings. 41 funds opened positions while 66 raised stakes. 184.16 million shares or 4.32% less from 192.47 million shares in 2017Q1 were reported.
Palo reported 16,121 shares. First American Bank holds 0.24% or 64,573 shares. First Advsr Lp accumulated 0.07% or 554,423 shares. Advisory Services Network Ltd invested in 0% or 189 shares. Rodgers Brothers Inc, a Pennsylvania-based fund reported 35,031 shares. Northwestern Mutual Wealth Mgmt Com invested in 0% or 1,382 shares. Nexus Investment holds 3.45% or 457,425 shares in its portfolio. Westpac Bk holds 0% or 20,588 shares. Amp Capital Invsts Limited stated it has 108,912 shares. Ubs Asset Mgmt Americas, a Illinois-based fund reported 75 shares. Altrinsic Glob Advisors Ltd invested 4.76% in Thomson Reuters Corporation (NYSE:TRI). 1.95 million were accumulated by Deutsche Bancshares Ag. Exane Derivatives owns 138 shares. Ww Asset Mngmt Inc owns 0.07% invested in Thomson Reuters Corporation (NYSE:TRI) for 43,892 shares. Financial Bank Of Stockton reported 8,110 shares.

The chart of Thomson Reuters Corporation (TRI) shows a double top with $47.96 target or 9.00 % above today’s $44.00 share price. The 5 months chart pattern indicates low risk for the $31.56B company. It was reported on Dec, 7 by Finviz.com. If the $47.96 price target is reached, the company will be worth $2.84 billion more. Double tops are rare but powerful chart patterns.

The stock decreased 0.07% or $0.03 during the last trading session, reaching $44. About 773,017 shares traded or 3.14% up from the average. Thomson Reuters Corporation (NYSE:TRI) has risen 6.95% since December 7, 2016 and is uptrending. It has underperformed by 9.75% the S&P500.

Analysts await Thomson Reuters Corporation (NYSE:TRI) to report earnings on February, 8. They expect $0.56 EPS, down 6.67 % or $0.04 from last year’s $0.6 per share. TRI’s profit will be $401.69 million for 19.64 P/E if the $0.56 EPS becomes a reality. After $0.68 actual EPS reported by Thomson Reuters Corporation for the previous quarter, Wall Street now forecasts -17.65 % negative EPS growth.

Thomson Reuters Corporation (NYSE:TRI) Ratings Coverage

Among 17 analysts covering Thomson Reuters (NYSE:TRI), 4 have Buy rating, 2 Sell and 11 Hold. Therefore 24% are positive. Thomson Reuters had 34 analyst reports since July 29, 2015 according to SRatingsIntel. The stock of Thomson Reuters Corporation (NYSE:TRI) has “Hold” rating given on Tuesday, August 1 by RBC Capital Markets. The firm has “Hold” rating by TD Securities given on Monday, June 27. The company was upgraded on Wednesday, July 29 by TD Securities. The stock has “Outperform” rating by Macquarie Research on Thursday, June 15. The rating was reinitiated by JP Morgan on Thursday, November 3 with “Neutral”. The rating was initiated by Macquarie Research on Friday, August 26 with “Neutral”. Morgan Stanley maintained the stock with “Equal-Weight” rating in Monday, October 23 report. The stock of Thomson Reuters Corporation (NYSE:TRI) earned “Hold” rating by Piper Jaffray on Monday, September 18. The firm has “Sector Perform” rating given on Monday, December 12 by National Bank Canada. Canaccord Genuity maintained it with “Hold” rating and $4700 target in Tuesday, August 1 report.

More important recent Thomson Reuters Corporation (NYSE:TRI) news were published by: Huffingtonpost.com which released: “Women on Boards: A Call to Action with Thomson Reuters’ Jim Smith” on November 09, 2017, also Seekingalpha.com published article titled: “Thomson Reuters Invests In Data Security Firm Enveil”, Reuters.com published: “Tech recovers, but not enough to push Wall St. higher” on December 06, 2017. More interesting news about Thomson Reuters Corporation (NYSE:TRI) was released by: Twst.com and their article: “Thomson Reuters Corporation: Central Provident Fund Investment Scheme-Included …” with publication date: November 29, 2017.

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