Bank of America Initiates Coverage on Thomson Reuters (NYSE:TRI)
Bank of America started coverage on shares of Thomson Reuters (NYSE:TRI) (TSE:TRI) in a report published on Monday, BenzingaRatingsTable reports. The brokerage issued a neutral rating and a $70.00 price objective on the business services provider’s stock.
A number of other analysts have also issued reports on the stock. ValuEngine lowered shares of Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. National Bank Financial raised shares of Thomson Reuters from a sector perform rating to an outperform rating and increased their price target for the stock from C$78.00 to C$88.00 in a research report on Monday, April 22nd. Royal Bank of Canada increased their price target on shares of Summit Industrial Income REIT from C$11.50 to C$12.50 and gave the stock a sector perform rating in a research report on Thursday, May 9th. Macquarie restated a neutral rating on shares of EXPERIAN PLC/ADR in a report on Tuesday, June 25th. Finally, Morgan Stanley increased their price objective on Thomson Reuters from $66.00 to $67.00 and gave the stock an overweight rating in a report on Monday, April 29th. Ten investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Thomson Reuters has an average rating of Hold and an average price target of $62.65.
NYSE TRI opened at $67.71 on Monday. The stock has a 50 day moving average of $65.57. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $34.01 billion, a price-to-earnings ratio of 90.28, a price-to-earnings-growth ratio of 7.55 and a beta of 0.53. Thomson Reuters has a 52-week low of $44.78 and a 52-week high of $68.19.
A number of large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Thomson Reuters during the fourth quarter valued at approximately $408,000. Lord Abbett & CO. LLC bought a new stake in shares of Thomson Reuters during the fourth quarter valued at approximately $13,587,000. Lido Advisors LLC bought a new stake in shares of Thomson Reuters during the fourth quarter valued at approximately $271,000. Brinker Capital Inc. bought a new stake in shares of Thomson Reuters during the fourth quarter valued at approximately $766,000. Finally, Susquehanna Fundamental Investments LLC raised its stake in shares of Thomson Reuters by 50.8% during the fourth quarter. Susquehanna Fundamental Investments LLC now owns 65,300 shares of the business services provider’s stock valued at $3,155,000 after acquiring an additional 22,000 shares in the last quarter. Hedge funds and other institutional investors own 20.42% of the company’s stock.
About Thomson Reuters
Thomson Reuters Corporation provides news and information-based tools to professionals worldwide. It operates through five segments: Legal Professionals, Corporates, Tax 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.
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