Thomson Reuters (NYSE:TRI) Price Target Raised to $171.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its target price increased by Royal Bank of Canada from $168.00 to $171.00 in a research report released on Wednesday morning, BayStreet.CA reports. The firm currently has a sector perform rating on the business services provider’s stock.

Other analysts also recently issued reports about the company. National Bank Financial raised Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Scotiabank upgraded Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $164.00 to $182.00 in a research note on Tuesday, August 27th. Finally, JPMorgan Chase & Co. increased their target price on shares of Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Thomson Reuters presently has a consensus rating of “Hold” and a consensus target price of $173.73.

Thomson Reuters Price Performance

Shares of NYSE:TRI opened at $167.13 on Wednesday. The company has a market capitalization of $75.19 billion, a P/E ratio of 32.08, a price-to-earnings-growth ratio of 5.67 and a beta of 0.73. The company’s 50-day moving average is $168.71 and its 200 day moving average is $165.67. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88. Thomson Reuters has a fifty-two week low of $117.46 and a fifty-two week high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the previous year, the company earned $0.84 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities research analysts forecast that Thomson Reuters will post 3.71 earnings per share for the current year.

Thomson Reuters Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a dividend of $0.146 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.35%. Thomson Reuters’s dividend payout ratio (DPR) is currently 41.46%.

Institutional Investors Weigh In On Thomson Reuters

Institutional investors and hedge funds have recently made changes to their positions in the business. TD Asset Management Inc increased its stake in Thomson Reuters by 7.9% in the 1st quarter. TD Asset Management Inc now owns 4,047,773 shares of the business services provider’s stock worth $630,534,000 after acquiring an additional 295,301 shares during the last quarter. Cibc World Market Inc. increased its position in shares of Thomson Reuters by 26.3% in the second quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider’s stock worth $223,525,000 after purchasing an additional 276,206 shares during the last quarter. MUFG Securities EMEA plc purchased a new stake in Thomson Reuters in the second quarter valued at approximately $45,514,000. Toronto Dominion Bank lifted its position in Thomson Reuters by 87.1% during the second quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider’s stock valued at $85,136,000 after purchasing an additional 235,145 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Thomson Reuters in the 3rd quarter worth approximately $29,250,000. Hedge funds and other institutional investors 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.