CIBC Boosts Thomson Reuters (NYSE:TRI) Price Target to $165.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its target price lifted by CIBC from $164.00 to $165.00 in a research note released on Friday morning,BayStreet.CA reports. They currently have a neutral rating on the business services provider’s stock.

A number of other research firms have also recently weighed in on TRI. Wells Fargo & Company initiated coverage on Thomson Reuters in a report on Tuesday, November 26th. They set an “equal weight” rating and a $165.00 price target for the company. StockNews.com lowered shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Scotiabank boosted their price target on shares of Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. Royal Bank of Canada increased their price objective on shares of Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 6th. Finally, National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $176.10.

Thomson Reuters Price Performance

Thomson Reuters stock opened at $162.37 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The stock has a market cap of $73.05 billion, a P/E ratio of 31.96, a PEG ratio of 5.69 and a beta of 0.71. The company has a 50-day moving average price of $164.84 and a 200 day moving average price of $166.06. Thomson Reuters has a 12-month low of $142.80 and a 12-month high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the firm earned $0.82 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. Sell-side analysts anticipate that Thomson Reuters will post 3.69 earnings per share for the current year.

Thomson Reuters Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were given a dividend of $0.54 per share. The ex-dividend date was Thursday, November 21st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.33%. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.15. Thomson Reuters’s dividend payout ratio is currently 42.52%.

Institutional Investors Weigh In On Thomson Reuters

A number of hedge funds have recently bought and sold shares of TRI. Rothschild Investment LLC purchased a new stake in shares of Thomson Reuters in the 2nd quarter valued at approximately $25,000. Commonwealth Equity Services LLC raised its stake in Thomson Reuters by 1.8% in the second quarter. Commonwealth Equity Services LLC now owns 7,925 shares of the business services provider’s stock valued at $1,336,000 after buying an additional 141 shares in the last quarter. National Bank of Canada FI lifted its holdings in Thomson Reuters by 0.9% during the 2nd quarter. National Bank of Canada FI now owns 446,600 shares of the business services provider’s stock worth $74,758,000 after buying an additional 3,802 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Thomson Reuters by 32.9% during the 2nd quarter. Private Advisor Group LLC now owns 4,270 shares of the business services provider’s stock worth $720,000 after acquiring an additional 1,056 shares in the last quarter. Finally, Savant Capital LLC increased its holdings in shares of Thomson Reuters by 10.5% in the 2nd quarter. Savant Capital LLC now owns 2,560 shares of the business services provider’s stock valued at $432,000 after acquiring an additional 243 shares during the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

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.