Thomson Reuters (NYSE:TRI) Upgraded by Scotiabank to “Sector Outperform”

Thomson Reuters (NYSE:TRI) (TSE:TRI) was upgraded by analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a report released on Tuesday, Briefing.com reports. The firm presently has a $182.00 price objective on the business services provider’s stock, up from their prior price objective of $164.00. Scotiabank’s target price suggests a potential upside of 8.90% from the company’s previous close.

Other research analysts also recently issued reports about the company. Canaccord Genuity Group lifted their target price on Thomson Reuters from $149.00 to $156.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Royal Bank of Canada cut their price objective on Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. UBS Group increased their target price on shares of Thomson Reuters from $177.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Canaccord Genuity Group raised their price target on shares of Thomson Reuters from $149.00 to $156.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $173.45.

Thomson Reuters Stock Up 0.5 %

Shares of NYSE TRI opened at $167.12 on Tuesday. The company has a 50 day simple moving average of $164.43 and a 200 day simple moving average of $161.97. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.88 and a quick ratio of 0.88. Thomson Reuters has a 1 year low of $117.46 and a 1 year high of $176.03. The firm has a market cap of $75.16 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 5.91 and a beta of 0.72.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The company’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.84 EPS. On average, research analysts forecast that Thomson Reuters will post 3.72 EPS for the current year.

Hedge Funds Weigh In On Thomson Reuters

Several institutional investors have recently made changes to their positions in the stock. Rothschild Investment LLC bought a new stake in shares of Thomson Reuters during the 2nd quarter worth $25,000. EverSource Wealth Advisors LLC grew its position in shares of Thomson Reuters by 76.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 80 shares during the period. Gold Investment Management Ltd. purchased a new stake in shares of Thomson Reuters during the 4th quarter worth approximately $41,000. Principal Securities Inc. bought a new position in Thomson Reuters during the fourth quarter valued at $48,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Thomson Reuters in the 2nd quarter worth about $73,000. Institutional investors and hedge funds own 17.31% of the company’s stock.

About Thomson Reuters

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.