Thomson Reuters (NYSE:TRI) Price Target Lowered to $160.00 at Wells Fargo & Company

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target dropped by research analysts at Wells Fargo & Company from $212.00 to $160.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the business services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 26.49% from the stock’s current price.

A number of other equities analysts also recently issued reports on TRI. CIBC set a $198.00 price target on Thomson Reuters and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. The Goldman Sachs Group set a $186.00 price target on shares of Thomson Reuters and gave the stock a “buy” rating in a report on Wednesday, October 15th. Huber Research upgraded Thomson Reuters to an “overweight” rating in a research note on Monday, October 20th. JPMorgan Chase & Co. dropped their target price on Thomson Reuters from $178.00 to $160.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Finally, Royal Bank Of Canada reduced their price target on shares of Thomson Reuters from $208.00 to $182.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 29th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $189.91.

Thomson Reuters Stock Down 0.0%

NYSE TRI traded down $0.03 during trading on Wednesday, reaching $126.50. 222,877 shares of the company’s stock traded hands, compared to its average volume of 865,940. Thomson Reuters has a 12-month low of $125.80 and a 12-month high of $218.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. The firm has a market cap of $56.27 billion, a price-to-earnings ratio of 25.87, a price-to-earnings-growth ratio of 5.67 and a beta of 0.80. The company’s 50 day simple moving average is $133.17 and its two-hundred day simple moving average is $161.17.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TRI. Vanguard Group Inc. raised its position in shares of Thomson Reuters by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,690,956 shares of the business services provider’s stock worth $883,680,000 after acquiring an additional 73,725 shares in the last quarter. TD Asset Management Inc grew its holdings 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 purchasing an additional 166,977 shares during the last quarter. TLT Family Holdco ULC acquired a new stake in shares of Thomson Reuters during the second quarter worth about $865,442,000. LCC Family Corp. purchased a new stake in shares of Thomson Reuters in the 2nd quarter valued at about $813,253,000. Finally, SEG Family Corp. purchased a new stake in Thomson Reuters in the second quarter valued at approximately $659,930,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

About Thomson Reuters

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.