Thomson Reuters (NYSE:TRI) Price Target Raised to $164.00

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target lifted by Scotiabank from $159.00 to $164.00 in a report issued on Friday, MarketBeat reports. Scotiabank currently has a sector perform rating on the business services provider’s stock.

Several other equities research analysts also recently commented on the stock. Royal Bank of Canada upped their price objective on shares of Thomson Reuters from $153.00 to $156.00 and gave the company a sector perform rating in a report on Tuesday. Barclays upgraded shares of Thomson Reuters from an equal weight rating to an overweight rating and upped their price target for the company from $150.00 to $180.00 in a research note on Thursday, March 14th. CIBC lifted their price objective on shares of Thomson Reuters from $152.00 to $156.00 and gave the company a neutral rating in a research note on Friday. Canaccord Genuity Group increased their target price on Thomson Reuters from $149.00 to $156.00 and gave the stock a hold rating in a research report on Friday. Finally, TD Securities lifted their price target on Thomson Reuters from $210.00 to $225.00 and gave the company a hold rating in a research report on Wednesday, March 13th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $164.31.

Thomson Reuters Stock Performance

Shares of TRI traded up $1.78 on Friday, reaching $164.74. 619,405 shares of the company’s stock traded hands, compared to its average volume of 362,043. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.26. The stock has a market cap of $74.35 billion, a PE ratio of 31.38, a PEG ratio of 4.24 and a beta of 0.65. The stock’s 50 day simple moving average is $155.25 and its two-hundred day simple moving average is $146.11. Thomson Reuters has a 52-week low of $117.46 and a 52-week high of $166.11.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.17. Thomson Reuters had a return on equity of 15.43% and a net margin of 34.87%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the business posted $0.85 earnings per share. Thomson Reuters’s revenue was up 8.5% on a year-over-year basis. On average, analysts forecast that Thomson Reuters will post 3.58 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Wednesday, May 15th. Thomson Reuters’s payout ratio is 41.33%.

Hedge Funds Weigh In On Thomson Reuters

Several institutional investors have recently added to or reduced their stakes in TRI. Trust Co. of Vermont bought a new stake in shares of Thomson Reuters during the 3rd quarter worth approximately $27,000. FinTrust Capital Advisors LLC acquired a new position in shares of Thomson Reuters in the third quarter valued at about $28,000. Pacifica Partners Inc. raised its holdings in shares of Thomson Reuters by 162.0% during the fourth quarter. Pacifica Partners Inc. now owns 241 shares of the business services provider’s stock worth $34,000 after purchasing an additional 149 shares during the last quarter. Operose Advisors LLC purchased a new position in shares of Thomson Reuters during the 3rd quarter valued at about $37,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in shares of Thomson Reuters in the 4th quarter valued at about $37,000. 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.