Thomson Reuters (NASDAQ:TRI) Price Target Raised to $115.00

Thomson Reuters (NASDAQ:TRI) had its target price boosted by JPMorgan Chase & Co. from $110.00 to $115.00 in a report released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other research firms also recently commented on TRI. Morgan Stanley set a $110.00 price target on Thomson Reuters and gave the company an “equal weight” rating in a research note on Tuesday, October 13th. Jefferies Financial Group assumed coverage on shares of Thomson Reuters in a report on Tuesday, October 20th. They issued a “buy” rating and a $130.00 target price on the stock. Royal Bank Of Canada boosted their target price on shares of Thomson Reuters from $124.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, October 28th. RBC Dominion Securities upped their price target on shares of Thomson Reuters from $124.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, October 28th. Finally, Scotiabank reiterated a “sector outperform” rating and set a $135.00 price target on shares of Thomson Reuters in a research report on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $128.96.

Thomson Reuters Stock Performance

Shares of TRI stock traded down $5.54 on Wednesday, hitting $112.57. The company’s stock had a trading volume of 1,291,915 shares, compared to its average volume of 1,675,711. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.51 and a current ratio of 0.51. Thomson Reuters has a fifty-two week low of $76.28 and a fifty-two week high of $142.04. The stock’s 50 day moving average is $105.91 and its 200-day moving average is $97.09. The company has a market capitalization of $48.78 billion, a PE ratio of 31.43, a PEG ratio of 2.35 and a beta of 0.69.

Thomson Reuters (NASDAQ:TRI) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.08). The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.80 billion. Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 EPS. Equities research analysts expect that Thomson Reuters will post 4.33 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be given a $0.6550 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $2.62 dividend on an annualized basis and a yield of 2.3%. Thomson Reuters’s dividend payout ratio (DPR) is currently 73.18%.

Hedge Funds Weigh In On Thomson Reuters

Several large investors have recently bought and sold shares of the company. Continuum Advisory LLC acquired a new position in shares of Thomson Reuters in the second quarter valued at approximately $45,000. Western Wealth Management LLC acquired a new position in Thomson Reuters in the 1st quarter valued at approximately $48,000. GK Wealth Management LLC bought a new position in shares of Thomson Reuters during the third quarter valued at $53,000. Westside Investment Management Inc. raised its stake in shares of Thomson Reuters by 80.7% during the third quarter. Westside Investment Management Inc. now owns 600 shares of the company’s stock valued at $59,000 after acquiring an additional 268 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of Thomson Reuters by 66.9% during the second quarter. SBI Securities Co. Ltd. now owns 786 shares of the company’s stock worth $64,000 after purchasing an additional 315 shares during the period. 17.31% of the stock is currently owned by institutional investors.

Thomson Reuters Company Profile

Thomson Reuters is a global provider of information, software and services for legal, tax, accounting, compliance, risk and financial professionals. Its products help customers research complex issues, manage workflows and make informed decisions.

Key offerings include Westlaw and Practical Law for legal research and practice management, Checkpoint for tax and accounting research, and ONESOURCE for tax and trade compliance. The company also provides news and information through Reuters, its global news organization.

Thomson Reuters was formed in 2008 through the combination of Thomson Corporation and Reuters Group.