Wells Fargo & Company Begins Coverage on Thomson Reuters (NYSE:TRI)

Analysts at Wells Fargo & Company assumed coverage on shares of Thomson Reuters (NYSE:TRI) (TSE:TRI) in a report issued on Tuesday, Marketbeat.com reports. The brokerage set an “equal weight” rating and a $165.00 price target on the business services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 2.05% from the stock’s current price.

Several other equities research analysts also recently issued reports on TRI. Scotiabank raised their target price 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. JPMorgan Chase & Co. raised their target price 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. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Royal Bank of Canada raised 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, StockNews.com downgraded shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research report on Friday, November 22nd. 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $175.20.

Thomson Reuters Trading Up 0.6 %

Shares of NYSE:TRI opened at $161.68 on Tuesday. Thomson Reuters has a 52-week low of $138.57 and a 52-week high of $176.03. The company has a market capitalization of $72.74 billion, a P/E ratio of 31.83, a price-to-earnings-growth ratio of 5.44 and a beta of 0.73. The company has a 50-day simple moving average of $166.86 and a 200 day simple moving average of $167.11. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.94.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its earnings results on Tuesday, November 5th. The business services provider reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period last year, the business posted $0.82 EPS. Thomson Reuters’s revenue was up 8.2% on a year-over-year basis. Sell-side analysts forecast that Thomson Reuters will post 3.69 earnings per share for the current year.

Institutional Investors Weigh In On Thomson Reuters

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rothschild Investment LLC acquired a new stake in shares of Thomson Reuters in the second quarter valued at approximately $25,000. EverSource Wealth Advisors LLC raised its position in shares of Thomson Reuters by 76.9% in the first quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock valued at $28,000 after buying an additional 80 shares in the last quarter. Asset Dedication LLC increased its stake in Thomson Reuters by 125.0% in the third quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 130 shares during the last quarter. Clean Yield Group bought a new position in Thomson Reuters in the third quarter valued at approximately $42,000. Finally, Ashton Thomas Securities LLC bought a new position in Thomson Reuters in the third quarter valued at approximately $47,000. 17.31% of the stock is currently owned by institutional investors and hedge funds.

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.