Thomson Reuters (NYSE:TRI) Given New $130.00 Price Target at Canaccord Genuity Group

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its target price decreased by analysts at Canaccord Genuity Group from $174.00 to $130.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm presently has a “buy” rating on the business services provider’s stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 38.95% from the stock’s current price.

TRI has been the subject of a number of other research reports. JPMorgan Chase & Co. reduced their price objective on Thomson Reuters from $178.00 to $160.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Huber Research upgraded Thomson Reuters to an “overweight” rating in a research report on Monday, October 20th. Wells Fargo & Company set a $140.00 price objective on shares of Thomson Reuters and gave the stock an “overweight” rating in a research note on Wednesday. Royal Bank Of Canada cut their price objective on shares of Thomson Reuters from $177.00 to $155.00 and set a “sector perform” rating for the company in a report on Tuesday. Finally, Scotiabank reissued an “outperform” rating and issued a $189.00 price target (down previously from $200.00) on shares of Thomson Reuters in a report on Wednesday, November 5th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Thomson Reuters has an average rating of “Moderate Buy” and an average target price of $180.27.

Thomson Reuters Stock Performance

TRI stock traded up $1.61 during trading on Wednesday, reaching $93.56. The company had a trading volume of 4,735,832 shares, compared to its average volume of 1,602,578. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. Thomson Reuters has a twelve month low of $86.42 and a twelve month high of $218.42. The company has a market cap of $41.63 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 5.67 and a beta of 0.80. The firm has a 50-day simple moving average of $127.50 and a 200-day simple moving average of $152.09.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Tuesday, November 4th. The business services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.81 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the firm earned $0.80 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, sell-side analysts expect that Thomson Reuters will post 3.89 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Thomson Reuters by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 5,776,640 shares of the business services provider’s stock worth $762,320,000 after purchasing an additional 85,684 shares during the period. TD Asset Management Inc boosted its position in shares of Thomson Reuters by 3.0% during the second quarter. TD Asset Management Inc now owns 5,681,469 shares of the business services provider’s stock worth $1,140,208,000 after buying an additional 166,977 shares during the period. TLT Family Holdco ULC acquired a new stake in shares of Thomson Reuters in the second quarter valued at $865,442,000. LCC Family Corp. purchased a new stake in shares of Thomson Reuters in the 2nd quarter valued at $813,253,000. Finally, SEG Family Corp. acquired a new position in Thomson Reuters during the 2nd quarter worth about $659,930,000. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Thomson Reuters Company Profile

Thomson Reuters (NYSE: TRI) is a multinational information and media company that provides content, technology and services to professionals in the legal, tax & accounting, compliance, risk, corporate and media sectors. Headquartered in Toronto, Canada, the company combines news and editorial content from the Reuters news agency with specialist workflow platforms and databases designed to support decision-making and regulatory compliance across industries worldwide.

The company’s product portfolio spans legal research and workflow tools, tax and accounting software, regulatory and risk management solutions, and real-time news and data services.