Thomson Reuters (NYSE:TRI) Price Target Raised to $156.00 at Royal Bank of Canada

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price objective raised by investment analysts at Royal Bank of Canada from $153.00 to $156.00 in a report issued on Tuesday, BayStreet.CA reports. The firm presently has a “sector perform” rating on the business services provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 2.43% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Scotiabank increased their target price on Thomson Reuters from $142.00 to $159.00 and gave the company a “sector perform” rating in a report on Friday, February 9th. National Bank Financial upgraded Thomson Reuters from an “underperform” rating to a “sector perform” rating in a report on Tuesday, April 23rd. TD Securities increased their target price on Thomson Reuters from $210.00 to $225.00 and gave the company a “hold” rating in a report on Wednesday, March 13th. CIBC increased their target price on Thomson Reuters from $146.00 to $152.00 and gave the company a “neutral” rating in a report on Thursday, March 14th. Finally, Barclays upgraded Thomson Reuters from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $150.00 to $180.00 in a report on Thursday, March 14th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $157.67.

Thomson Reuters Stock Performance

Shares of NYSE:TRI traded down $1.31 during midday trading on Tuesday, reaching $152.30. 98,799 shares of the company traded hands, compared to its average volume of 301,901. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.26. Thomson Reuters has a 12 month low of $117.46 and a 12 month high of $161.57. The firm has a market capitalization of $68.75 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 4.02 and a beta of 0.65. The firm’s fifty day moving average price is $155.39 and its two-hundred day moving average price is $145.78.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Thursday, February 8th. The business services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.82 billion. Thomson Reuters had a return on equity of 14.01% and a net margin of 39.67%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 EPS. On average, equities analysts expect that Thomson Reuters will post 3.58 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bank of Nova Scotia bought a new stake in shares of Thomson Reuters in the third quarter worth $170,036,000. FMR LLC boosted its stake in shares of Thomson Reuters by 26.3% in the third quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock worth $692,059,000 after acquiring an additional 1,179,155 shares during the period. Legal & General Group Plc boosted its stake in shares of Thomson Reuters by 6,607,664.7% in the third quarter. Legal & General Group Plc now owns 1,123,320 shares of the business services provider’s stock worth $138,048,000 after acquiring an additional 1,123,303 shares during the period. Norges Bank bought a new position in shares of Thomson Reuters in the fourth quarter worth about $160,372,000. Finally, Mackenzie Financial Corp boosted its stake in shares of Thomson Reuters by 17.3% in the third quarter. Mackenzie Financial Corp now owns 6,240,651 shares of the business services provider’s stock worth $755,514,000 after acquiring an additional 919,603 shares during the period. Hedge funds and other institutional investors 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.