Thomson Reuters (NYSE:TRI) Given New $156.00 Price Target at CIBC

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target lifted by CIBC from $152.00 to $156.00 in a research note published on Friday morning, BayStreet.CA reports. The firm currently has a neutral rating on the business services provider’s stock.

Other analysts have also issued research reports about the company. Barclays upgraded Thomson Reuters from an equal weight rating to an overweight rating and increased their target price for the company from $150.00 to $180.00 in a report on Thursday, March 14th. Royal Bank of Canada lifted their target price on Thomson Reuters from $153.00 to $156.00 and gave the company a sector perform rating in a research note on Tuesday, April 30th. Scotiabank increased their price target on shares of Thomson Reuters from $142.00 to $159.00 and gave the stock a sector perform rating in a research report on Friday, February 9th. TD Securities boosted their price objective on shares of Thomson Reuters from $210.00 to $225.00 and gave the company a hold rating in a research report on Wednesday, March 13th. Finally, 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. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $164.31.

Thomson Reuters Stock Up 1.4 %

Shares of Thomson Reuters stock opened at $167.07 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26. Thomson Reuters has a 12-month low of $117.46 and a 12-month high of $168.28. The firm has a market capitalization of $75.40 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 4.52 and a beta of 0.65. The stock’s fifty day moving average is $155.54 and its 200-day moving average is $146.98.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.17. Thomson Reuters had a net margin of 34.87% and a return on equity of 15.47%. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. The business’s quarterly revenue was up 8.5% on a year-over-year basis. 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. Investors of record on Thursday, May 16th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Wednesday, May 15th. Thomson Reuters’s dividend payout ratio is presently 41.14%.

Institutional Trading of Thomson Reuters

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its stake in shares of Thomson Reuters by 1.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 7,331 shares of the business services provider’s stock valued at $897,000 after acquiring an additional 93 shares in the last quarter. FinTrust Capital Advisors LLC bought a new position in shares of Thomson Reuters in the third quarter valued at approximately $28,000. Strategic Investment Advisors MI lifted its stake in shares of Thomson Reuters by 13.0% in the third quarter. Strategic Investment Advisors MI now owns 2,258 shares of the business services provider’s stock worth $276,000 after buying an additional 260 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Thomson Reuters by 5.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,224 shares of the business services provider’s stock worth $3,837,000 after buying an additional 1,600 shares during the period. Finally, Mackenzie Financial Corp grew its stake in 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 buying an additional 919,603 shares during the last quarter. Institutional investors and hedge funds 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.