Thomson Reuters (NYSE:TRI) Price Target Increased to $156.00 by Analysts at Canaccord Genuity Group

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its target price upped by Canaccord Genuity Group from $149.00 to $156.00 in a research report sent to investors on Friday morning, BayStreet.CA reports. They currently have a hold rating on the business services provider’s stock.

Other equities research analysts have also recently issued research reports about the company. CIBC upped their price target on Thomson Reuters from $152.00 to $156.00 and gave the stock a neutral rating in a report on Friday. National Bank Financial raised shares of Thomson Reuters from an underperform rating to a sector perform rating in a research note on Tuesday, April 23rd. Scotiabank boosted their price objective on shares of Thomson Reuters from $142.00 to $159.00 and gave the company a sector perform rating in a research report on Friday, February 9th. TD Securities boosted their price target on Thomson Reuters from $210.00 to $225.00 and gave the company a hold rating in a report on Wednesday, March 13th. Finally, Barclays upgraded Thomson Reuters from an equal weight rating to an overweight rating and raised their price objective for the stock from $150.00 to $180.00 in a report on Thursday, March 14th. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $164.31.

Thomson Reuters Price Performance

Shares of TRI stock traded up $1.78 during trading hours on Friday, reaching $164.74. The company had a trading volume of 619,405 shares, compared to its average volume of 362,043. The company has a market capitalization of $74.35 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 4.24 and a beta of 0.65. Thomson Reuters has a 12-month low of $117.46 and a 12-month high of $166.11. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a fifty day moving average of $155.25 and a 200-day moving average 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.17. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Thomson Reuters had a return on equity of 15.43% and a net margin of 34.87%. Thomson Reuters’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the firm earned $0.85 earnings per share. On average, equities analysts anticipate that Thomson Reuters will post 3.58 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.54 per share. The ex-dividend date is Wednesday, May 15th. This represents a $2.16 annualized dividend and a yield of 1.31%. Thomson Reuters’s dividend payout ratio is currently 41.33%.

Hedge Funds Weigh In On Thomson Reuters

A number of hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp raised its stake in shares of Thomson Reuters by 17.3% in the 3rd quarter. Mackenzie Financial Corp now owns 6,240,651 shares of the business services provider’s stock valued at $755,514,000 after acquiring an additional 919,603 shares during the period. Vanguard Group Inc. boosted its holdings in Thomson Reuters by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 5,698,178 shares of the business services provider’s stock worth $833,188,000 after acquiring an additional 52,138 shares during the period. FMR LLC lifted its position in shares of Thomson Reuters by 26.3% during the third quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock worth $692,059,000 after purchasing an additional 1,179,155 shares in the last quarter. FIL Ltd lifted its position in shares of Thomson Reuters by 9.8% during the fourth quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock worth $730,195,000 after purchasing an additional 445,444 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Thomson Reuters by 6.2% during the third quarter. The Manufacturers Life Insurance Company now owns 4,088,818 shares of the business services provider’s stock worth $500,872,000 after purchasing an additional 240,148 shares in the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

About Thomson Reuters

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.