Thomson Reuters (NYSE:TRI) Price Target Lowered to $160.00 at JPMorgan Chase & Co.

Thomson Reuters (NYSE:TRI) (TSE:TRI) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $178.00 to $160.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 11.03% from the stock’s current price.

Several other analysts have also recently commented on the stock. Morgan Stanley set a $172.00 price target on shares of Thomson Reuters in a report on Tuesday. Canaccord Genuity Group set a $174.00 price target on shares of Thomson Reuters and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company upgraded shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $187.00 to $212.00 in a report on Tuesday, September 9th. Huber Research upgraded shares of Thomson Reuters to an “overweight” rating in a research note on Monday, October 20th. Finally, The Goldman Sachs Group set a $186.00 target price on shares of Thomson Reuters and gave the company a “buy” rating in a research note on Wednesday, October 15th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Thomson Reuters presently has an average rating of “Moderate Buy” and a consensus target price of $195.27.

Thomson Reuters Trading Down 1.7%

Shares of TRI traded down $2.49 during midday trading on Wednesday, hitting $144.11. The stock had a trading volume of 1,055,371 shares, compared to its average volume of 979,385. Thomson Reuters has a fifty-two week low of $143.90 and a fifty-two week high of $218.42. The business has a 50-day simple moving average of $162.36 and a two-hundred day simple moving average of $181.65. The firm has a market cap of $64.37 billion, a P/E ratio of 29.54, a price-to-earnings-growth ratio of 5.67 and a beta of 0.74. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results on Tuesday, November 4th. The business services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.81 by $0.04. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company posted $0.80 earnings per share. Thomson Reuters has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Thomson Reuters will post 3.89 EPS for the current year.

Hedge Funds Weigh In On Thomson Reuters

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Savant Capital LLC increased its position in Thomson Reuters by 11.9% during the third quarter. Savant Capital LLC now owns 4,567 shares of the business services provider’s stock worth $709,000 after acquiring an additional 487 shares during the period. Westside Investment Management Inc. increased its position in Thomson Reuters by 100.0% during the third quarter. Westside Investment Management Inc. now owns 338 shares of the business services provider’s stock worth $52,000 after acquiring an additional 169 shares during the period. Allianz Asset Management GmbH increased its position in Thomson Reuters by 24.8% during the third quarter. Allianz Asset Management GmbH now owns 129,577 shares of the business services provider’s stock worth $20,125,000 after acquiring an additional 25,777 shares during the period. AGF Management Ltd. increased its position in Thomson Reuters by 186.8% during the third quarter. AGF Management Ltd. now owns 870,312 shares of the business services provider’s stock worth $135,592,000 after acquiring an additional 566,908 shares during the period. Finally, Principal Financial Group Inc. increased its position in Thomson Reuters by 1.5% during the third quarter. Principal Financial Group Inc. now owns 20,947 shares of the business services provider’s stock worth $3,253,000 after acquiring an additional 300 shares during the period. 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.