Thomson Reuters (NYSE:TRI) PT Raised to $156.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective hoisted by Canaccord Genuity Group from $149.00 to $156.00 in a research note released on Friday, Benzinga reports. Canaccord Genuity Group currently has a hold rating on the business services provider’s stock.

TRI has been the topic of several other research reports. Canaccord Genuity Group boosted their price target on Thomson Reuters from $149.00 to $156.00 and gave the stock a hold rating in a research report on Friday. JPMorgan Chase & Co. boosted their price target on Thomson Reuters from $152.00 to $163.00 and gave the stock a neutral rating in a research report on Friday. Scotiabank boosted their price target on Thomson Reuters from $159.00 to $164.00 and gave the stock a sector perform rating in a research report on Friday. Royal Bank of Canada lifted their target price on Thomson Reuters from $153.00 to $156.00 and gave the stock a sector perform rating in a research note on Tuesday, April 30th. Finally, TD Securities lifted their target price on Thomson Reuters from $210.00 to $225.00 and gave the stock a hold rating in a research note on Wednesday, March 13th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $164.31.

Thomson Reuters Price Performance

Shares of TRI opened at $167.07 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. Thomson Reuters has a 1 year low of $117.46 and a 1 year high of $168.28. The stock has a market cap of $75.40 billion, a P/E ratio of 31.82, a price-to-earnings-growth ratio of 4.52 and a beta of 0.65. The stock’s 50-day moving average price is $155.54 and its two-hundred day moving average price is $146.98.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.17. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. Thomson Reuters had a return on equity of 15.47% and a net margin of 34.87%. Thomson Reuters’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 earnings per share. On average, equities analysts predict that Thomson Reuters will post 3.58 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be issued a $0.54 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $2.16 annualized dividend and a yield of 1.29%. Thomson Reuters’s dividend payout ratio is presently 41.14%.

Hedge Funds Weigh In On Thomson Reuters

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRI. Bank of Nova Scotia acquired a new position in Thomson Reuters in the 3rd quarter worth about $170,036,000. FMR LLC boosted its holdings in Thomson Reuters by 26.3% in the third quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock worth $692,059,000 after acquiring an additional 1,179,155 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Thomson Reuters by 6,607,664.7% in the third quarter. Legal & General Group Plc now owns 1,123,320 shares of the business services provider’s stock worth $138,048,000 after purchasing an additional 1,123,303 shares during the last quarter. Norges Bank purchased a new stake in shares of Thomson Reuters in the fourth quarter worth approximately $160,372,000. Finally, Mackenzie Financial Corp raised its stake in shares of Thomson Reuters by 17.3% in the third quarter. Mackenzie Financial Corp now owns 6,240,651 shares of the business services provider’s stock worth $755,514,000 after purchasing an additional 919,603 shares during the last quarter. 17.31% of the stock is owned by institutional investors and hedge funds.

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.