Royal Bank of Canada Boosts Thomson Reuters (TRI) Price Target to $50.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target lifted by Royal Bank of Canada from $47.00 to $50.00 in a report released on Wednesday. Royal Bank of Canada currently has an outperform rating on the business services provider’s stock.

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley raised Thomson Reuters from an equal weight rating to an overweight rating and set a $52.00 price objective on the stock in a research report on Thursday, September 13th. Goldman Sachs Group initiated coverage on Thomson Reuters in a research report on Thursday, October 18th. They set a neutral rating on the stock. Canaccord Genuity reaffirmed a buy rating and set a $50.00 price objective on shares of Thomson Reuters in a research report on Wednesday, September 5th. ValuEngine raised Thomson Reuters from a hold rating to a buy rating in a research report on Wednesday, September 12th. Finally, Zacks Investment Research raised Thomson Reuters from a strong sell rating to a buy rating and set a $47.00 price objective on the stock in a research report on Sunday, July 15th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Thomson Reuters currently has a consensus rating of Buy and an average price target of $50.00.

Shares of TRI stock opened at $48.08 on Wednesday. Thomson Reuters has a 1-year low of $36.52 and a 1-year high of $48.41. The stock has a market cap of $26.87 billion, a P/E ratio of 19.16, a P/E/G ratio of 10.77 and a beta of 0.52. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.31 and a current ratio of 2.45.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data on Tuesday, November 6th. The business services provider reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. Thomson Reuters had a return on equity of 6.10% and a net margin of 16.21%. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the company earned $0.27 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities analysts anticipate that Thomson Reuters will post 0.64 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Thursday, November 15th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Wednesday, November 14th. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.35. Thomson Reuters’s dividend payout ratio (DPR) is currently 54.98%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC boosted its holdings in Thomson Reuters by 6,100.0% in the second quarter. Steward Partners Investment Advisory LLC now owns 2,480 shares of the business services provider’s stock worth $100,000 after acquiring an additional 2,440 shares in the last quarter. Daiwa SB Investments Ltd. acquired a new stake in Thomson Reuters in the second quarter worth about $141,000. Cerebellum GP LLC acquired a new stake in Thomson Reuters in the third quarter worth about $190,000. Beach Investment Counsel Inc. PA acquired a new stake in Thomson Reuters in the third quarter worth about $200,000. Finally, Laurel Wealth Advisors Inc. acquired a new stake in Thomson Reuters in the second quarter worth about $201,000. 28.18% of the stock is owned by institutional investors and hedge funds.

Thomson Reuters Company Profile

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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Analyst Recommendations for Thomson Reuters (NYSE:TRI)

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