Thomson Reuters (NYSE:TRI) PT Raised to $164.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target hoisted by analysts at Scotiabank from $159.00 to $164.00 in a research note issued on Friday, Marketbeat reports. The firm currently has a “sector perform” rating on the business services provider’s stock. Scotiabank’s price objective suggests a potential downside of 0.45% from the stock’s previous close.

TRI has been the subject of several other research reports. Barclays upgraded shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $150.00 to $180.00 in a research note on Thursday, March 14th. TD Securities boosted their price objective on shares of Thomson Reuters from $210.00 to $225.00 and gave the stock a “hold” rating in a research note on Wednesday, March 13th. CIBC upped their price target on shares of Thomson Reuters from $152.00 to $156.00 and gave the company a “neutral” rating in a research note on Friday. Canaccord Genuity Group upped their price target on shares of Thomson Reuters from $149.00 to $156.00 and gave the company a “hold” rating in a research note on Friday. Finally, Royal Bank of Canada upped their price target on shares of Thomson Reuters from $153.00 to $156.00 and gave the company a “sector perform” rating in a research note on Tuesday. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $164.31.

Thomson Reuters Trading Up 1.1 %

Thomson Reuters stock traded up $1.78 during trading hours on Friday, hitting $164.74. The company had a trading volume of 615,548 shares, compared to its average volume of 325,121. The firm has a market cap of $74.35 billion, a P/E ratio of 28.21, a P/E/G ratio of 3.94 and a beta of 0.65. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 0.90. Thomson Reuters has a 1 year low of $117.46 and a 1 year high of $166.11. The company has a 50-day moving average price of $155.25 and a two-hundred day moving average price of $146.11.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.94 by $0.17. Thomson Reuters had a net margin of 39.67% and a return on equity of 14.01%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the business posted $0.85 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Thomson Reuters will post 3.58 earnings per share for the current year.

Hedge Funds Weigh In On Thomson Reuters

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its holdings in Thomson Reuters by 1.8% during the first quarter. Assenagon Asset Management S.A. now owns 3,990 shares of the business services provider’s stock valued at $622,000 after purchasing an additional 70 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Thomson Reuters by 25.7% during the fourth quarter. Fifth Third Bancorp now owns 382 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 78 shares in the last quarter. Legacy Wealth Asset Management LLC lifted its holdings in Thomson Reuters by 0.7% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 12,685 shares of the business services provider’s stock valued at $1,855,000 after purchasing an additional 82 shares in the last quarter. Gulf International Bank UK Ltd lifted its holdings in Thomson Reuters by 5.8% during the first quarter. Gulf International Bank UK Ltd now owns 1,541 shares of the business services provider’s stock valued at $239,000 after purchasing an additional 85 shares in the last quarter. Finally, Advisor OS LLC lifted its holdings in Thomson Reuters by 5.2% during the third quarter. Advisor OS LLC now owns 1,730 shares of the business services provider’s stock valued at $212,000 after purchasing an additional 86 shares in the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

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.