Thomson Reuters (NYSE:TRI) (TSE:TRI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, reports. The brokerage currently has a $76.00 price target on the business services provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.31% from the company’s previous close.

According to Zacks, “Thomson Corporation is a leading provider of value-added information and technology to users in the fields of law, tax, accounting, financial services, higher education, reference information, corporate training and assessment, scientific research and healthcare. “

Several other research analysts have also recently commented on TRI. ValuEngine cut Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Macquarie reaffirmed a “neutral” rating on shares of EXPERIAN PLC/ADR in a research report on Tuesday, June 25th. Royal Bank of Canada raised their target price on Summit Industrial Income REIT from C$11.50 to C$12.50 and gave the stock a “sector perform” rating in a research report on Thursday, May 9th. National Bank Financial raised Thomson Reuters from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from C$78.00 to C$88.00 in a research report on Monday, April 22nd. Finally, Bank of America set a $68.00 target price on Inphi and gave the stock a “buy” rating in a research report on Monday, July 15th. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $63.15.

TRI opened at $67.67 on Thursday. Thomson Reuters has a 1-year low of $44.78 and a 1-year high of $68.60. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $33.92 billion, a PE ratio of 90.23, a price-to-earnings-growth ratio of 7.57 and a beta of 0.53. The company has a 50 day simple moving average of $65.75.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Wednesday, May 8th. The business services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.13. Thomson Reuters had a return on equity of 4.25% and a net margin of 78.52%. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the business earned $0.28 earnings per share. Thomson Reuters’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts anticipate that Thomson Reuters will post 1.12 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC increased its position in Thomson Reuters by 19.5% in the second quarter. Commonwealth Equity Services LLC now owns 6,054 shares of the business services provider’s stock worth $390,000 after purchasing an additional 988 shares during the period. Fox Run Management L.L.C. acquired a new stake in Thomson Reuters in the second quarter worth about $220,000. NEXT Financial Group Inc bought a new position in Thomson Reuters during the second quarter worth about $170,000. Unigestion Holding SA bought a new position in Thomson Reuters during the second quarter worth about $380,000. Finally, AdvisorNet Financial Inc boosted its holdings in Thomson Reuters by 110.3% during the second quarter. AdvisorNet Financial Inc now owns 3,010 shares of the business services provider’s stock worth $194,000 after buying an additional 1,579 shares during the last quarter. 20.42% of the stock is owned by hedge funds and other institutional investors.

Thomson Reuters Company Profile

Thomson Reuters Corporation provides news and information-based tools to professionals worldwide. It operates through five segments: Legal Professionals, Corporates, Tax 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.

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